Tag: Geely

By on June 1, 2020

Over the past decade, regular reports that Chinese automakers were readying a major push into the North American market became commonplace. We started seeing them move out of trade show basements to take up some of the most desirable real estate on the main floor. While some of the product clearly wasn’t yet up to snuff, one could imagine budget-focused products flooding the U.S. and Canada after a few years of polish. However, the last time that seemed like a likely scenario was 2018.

Chinese brands are still trying to break into the untapped North American market; some even have physical office space set up within the United States. However, Sino-American relations have soured dramatically over the past few years, and new financial hurdles have made wrangling a new market extremely difficult.  (Read More…)

By on April 7, 2020

Polestar has released details of its Precept concept, offering a reminder that this will be the vehicle that informs all future models the company produces. Jointly owned by Volvo Cars and Zhejiang Geely Holding, Polestar has morphed from the Swedish manufacturer’s partner in performance engineering into a separate brand specializing in sporting EVs.

We’ve seen the Precept before, bashing it gently in February for being a handsome sedan with a manufacturer that wasted everyone’s time (and its press release) by prattling on endlessly about green tech and sustainability. While we had hoped Polestar would remedy this in its follow-up teaser, powertrain details remain nonexistent. Considering this is a concept car, that’s not an unforgivable sin, but it’s curious a company supposedly focused on performance engineering has twice failed to discuss that aspect of the vehicle. Instead, we’re offered additional details about the model’s design — including some new photographs — as the brand continues to discuss sustainability and high-tech features.

Just enough to keep us interested. The bare minimum.  (Read More…)

By on March 24, 2020

Now fully an automotive brand, Polestar aims to attract more than just a limited number of hugely wealthy customers. That was Polestar 1. Now it’s time for Polestar 2, a more affordable, four-door electric sedan with sporting prowess and eco-consciousness in spades.

How did Polestar pull off the unusual feat of starting production of a new model when assembly lines across the globe are going dark amid the coronavirus pandemic? Because production is occurring in China, the country that birthed the virus, then left it on its neighbors’ doorsteps. (Read More…)

By on February 25, 2020

While many are still under the impression that Chinese automakers will never manage to wrangle the North American automotive market, Geely’s ownership of Volvo Cars and Polestar has already proven them wrong. The Chinese manufacturer purchased Volvo in 2010, with savory bodywork and sumptuous interiors doing much of the heavy lifting with consumers. Performance-focused Polestar wasn’t purchased until a few years later, but the theme remained largely the same — move toward electrification, don’t forget about safety, and try to build the sexiest car possible while maintaining an aura of respectability.

So far, it’s worked rather well. Polestar is now eager to drive that message home via its new Precept concept vehicle. The company claims the car reveals “a vision of the brand’s future direction and a clear expression of intent.” Since we’re fluent in marketing speak, we’re pleased to tell you that sentence is not entirely meaningless.  (Read More…)

By on February 25, 2020

As we told you last week, the rampaging coronavirus outbreak and subsequent restrictions on movement has forced Chinese automakers to use technology in new ways. With sales plunging and millions barred indoors, auto giant Geely turned to online retailing, allowing customers to order and configure cars from home. The automaker even allowed for test drives to take place at the buyer’s residence.

One aspect of the epidemic was the cancellation of a splashy February 14th sales launch for the new Icon small crossover, which hit the market this week. The event may have been scrubbed, but Geely still found a way to use the virus to its advantage.  (Read More…)

By on February 10, 2020

Volvo Cars, cast off by a struggling Ford and subsequently picked up by an expansionist Geely 10 years ago, might forge closer ties with its Chinese parent. The relationship could become a marriage.

On Monday, Geely said the two companies have begun talks on turning the two entities into a combined automaker. (Read More…)

By on January 13, 2020

Maybe it won’t be needed, what with a new sport-utility vehicle on the way, but Aston Martin’s deflated stock price and profit dive has the British automaker in search of a financial parachute. By that, we mean investors who can pump a little cash into the company while boosting shareholder confidence.

After a disappointing year, Aston Martin needs to chart a path to better finances, and a Chinese company that’s no stranger to endangered European brands might just be that sugar daddy. (Read More…)

By on November 25, 2019

A new report indicates that BAIC Motor Corp, Daimler’s primary Chinese joint-venture partner, wants to increase its stake in the company. Currently, BAIC owns 5 percent of the German automaker (purchased in July) with rumors swirling in October that the firm wanted to increase its investment. There were also claims that Geely was attempting to stand in the way of the prospective deal.

While not Daimler’s main squeeze in Asia from a production perspective, Geely actually owns 9.7 percent of the company — giving it quite a bit of leverage. As such, there were murmurings that Geely put the kibosh on any ideas BAIC had on investing further. Geely has rebuffed the accusation. “We are a long-term investor in Daimler. We do not react spontaneously to any volatility and we support Daimler’s management and their strategy,” the firm explained.

Be that as it may, there appears to be a minor power struggle between the two Chinese companies. Both seem interested in strengthening their influence and happen to find themselves in each other’s way.  (Read More…)

By on October 7, 2019

2019 Volvo Cars USA full lineup - Image: Volvo

Volvo’s relationship with its Chinese parent is about to grow even closer. The Swedish car maker and its parent company, Geely, proposes to put an end to separate engine development, with engineering teams from both companies tasked with building common powerplants for all marques in Geely’s broad orbit.

For Volvo, the move to a new standalone business for its internal combustion engines would be beneficial, given its plan for the brand’s future. (Read More…)

By on August 21, 2019

China’s Geely Automobile Holdings Ltd said on Wednesday that its first-half net profit slipped 40 percent due to the extended economic downturn impacting in the region. According to Reuters, the manufacturer posted a net profit of 4.01 billion yuan ($568.5 million) during the most recent half vs the 6.67 billion yuan it made over the same period a year earlier.

Sales growth is also down. Between January and June, Geely sold 651,680 vehicles — roughly 15 percent less than in the same period in 2018. Finding something to attribute that to will be easy, however. China’s automotive market has been on a downhill slope for 13 consecutive months and we know of at least two reasons why.  (Read More…)

By on July 23, 2019

Beijing Automotive Group Co Ltd (BAIC) announced on Tuesday that it had purchased a 5 percent stake in Daimler AG. Despite the pair have been partners in Asia since 2003, via the Beijing Benz Automotive joint venture, Zhejiang Geely Holding Group purchased nearly 10 percent of the German company in 2018 and was reportedly seeking high levels of cooperation.

As one of Geely’s direct rivals, BAIC claimed its investment would help solidify the relationship with Daimler. “This step reinforces our alignment with, and strong support for, Daimler’s management and strategy,” BAIC chairman Heyi Xu said in an official statement. (Read More…)

By on July 17, 2019

Lotus has finally revealed its new halo vehicle, the Evija, claiming it will become “the world’s most powerful production car.” However, due to the Evija’s extremely limited availability and 1.7 million-pound ($2.1 million) price, there’s a lot undercutting that claim. It also leads Lotus away from its role as a scrappy underdog, delivering stripped-down featherweights designed to embarrass similarly priced sporting vehicles with more luxurious amenities.

When you think of present-day Lotus, you don’t typically think grandiose — but that term sums up the Evija rather well. Lotus Cars CEO Phil Popham said it would be like nothing else and “re-establish our brand in the hearts and minds of sports car fans and on the global automotive stage,” while simultaneously paving the way for new models.  (Read More…)

By on June 3, 2019

Lotus hasn’t delivered an entirely new model since the Evora debuted over ten years ago. The clock will reset come July 16th, when the company unveils the Type 130 in central London. Approved by Chinese-parent Geely and shrouded in secrecy, the 130 will represent a major change for Lotus as the brand’s first all-electric hypercar.

However, the baby is reportedly not being thrown out with the bathwater. The automaker has confirmed that the model will still be manufactured at its longstanding headquarters in Hethel, Norfolk, and remain hand-built by Britain’s finest.  (Read More…)

By on May 29, 2019

Like all automakers, Volvo is keen to promote itself as a cutting-edge manufacturer, and now has a new tool in its arsenal to impress tech-obsessed shareholders. Thanks to a corporate partnership with Varjo, the brand says it will begin implementing the latest in VR headsets to help streamline development. However, Volvo’s plan is more concerned with augmenting our existing realities than creating new ones.

By using Varjo’s new XR-1 headset, the automaker believes it can manufacture plausible portions of augmented reality littered with virtual obstacles and encounters that are as real to the driver as they would be to the car — without putting either in any legitimate danger. This is ultimately supposed to allow the company to effectively test real vehicles sporting autonomous hardware while subjecting living subjects to the same experience. But the full depth of these simulations has yet to be explored.  (Read More…)

By on May 17, 2019

lotus evora gt430

After Chinese auto giant Geely took a controlling stake in Lotus two years ago, the British brand has prepared itself for a turnaround. With a more stable financial footing secured, Lotus can be whatever it wants to be.

Enthusiasts want it to remain Lotus, only with an actual range of vehicles on offer. Group Lotus’ CEO, who also happens to be Geely’s chief technology officer, knows what he wants         the brand to mimic: Porsche. Feng Qingfeng has great fondness for the brand’s would-be rival, calling its products “wonderful.”

It seems he’s also okay with an SUV. (Read More…)

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