Tag: Geely

By on April 27, 2021

Lotus Cars has announced that the Emira sports car will be its next and final internal combustion model as it prepares itself to become an exclusively electric brand. The historically British manufacturer says its Chinese owners, the Zhejiang Geely Holding Group, are preparing a cash injection of $2.8 billion to swap to EVs and expand its footprint.

While the present market makes those items feel as though they could conflict with each other, Lotus thinks that the climate will be different a few years from now and plans on going EV only by 2028. In the meantime, the Emira is scheduled to launch in July. (Read More…)

By on April 5, 2021

American automakers can usually count on selling just below 3 million vehicle sales in China every year. While that figure includes the caveat that the Chinese Communist Party requires foreign manufacturers to partner up with established local companies, it remains substantially larger than the number of cars Chinese brands manage to move in the United States per annum — which is effectively zero.

From BYD to Zoyte, just about every large Chinese manufacturer has issued a deluge of promises about breaking into our market over the last decade — including most of the names we’ll be mentioning below. Consider this sort of the “Where Are They Now?” of evergreen automotive content about regional disparities. Because very little has moved in regard to China’s involvement with the North American auto market and the current geopolitical climate doesn’t make us think that’s likely to change anytime soon.

But it hasn’t been for a lack of trying.  (Read More…)

By on March 23, 2021

Geely Auto Group has announced the formation of an electric technology firm and automotive brand called Zeekr Company Limited. With the Chinese group already holding numerous mobility-focused brands with a penchant for electrification, it’s a bit curious to see it launching another one. But Geely has indicated that Zeekr will be aimed at the premium EV market using a similar business model as Lynk & Co.

That likely means selling vehicles as a service, rather than a product owned by the driver — something we’ve been incredibly wary of since the industry starting mulling over things like subscription services and online sales. Owned jointly owned by Geely Automobile Holdings and Zhejiang Geely Holding Group, the plan is to start launching products in China before the end of 2021. It’s quite the swift turnaround, leading us to believe there will be some platform sharing with other Geely-owned automotive brands. New product is said to be introduced every twelve months over the next five years.  (Read More…)

By on February 27, 2021

volvo emblem logo grille

Despite having already having Volvo Cars as one of its many subsidiaries, China’s Geely signaled roughly a year ago that it wanted to merge with the brand as part of its strategy to expand globally. Plans changed on this week when the company announced that the duo will be retaining their independent corporate structures, though they will continue working on a joint development program for electric vehicles.

This means more backing for the Lynk & Co. brand, a technology-focused joint venture Geely launched with Volvo in 2016. Lynk is hoping to bridge the gap between traditional vehicle sales and subscription-based models, while also pioneering telematics and other connected services that look like an invasion of privacy to some and a technological breakthrough to others. Regardless, the industry as a whole seems convinced this represents the evolution of the automobile and a stable source of revenue for companies capable of monetizing large amounts of data — often with the help of the world’s largest technology firms.  (Read More…)

By on December 31, 2020

cabin air fliters

Cabin air filters in your car have been around for awhile, but recently companies promoting their ability to filter out the coronavirus have appeared. Is this even remotely possible?

(Read More…)

By on December 2, 2020

Volvo Cars’ chief executive, Håkan Samuelsson, believes a ban on gasoline-driven vehicles would be a more effective way to force groups to go electric than continuing to offer subsidies on battery-powered automobiles. The announcement comes as part of the Financial Times’ “Future of the Car Summit,” where Samuelsson will proclaim the internal combustion engine “a technology of the past.”

In related news, Volvo Cars is also in negotiations to merge with China’s Geely Automotive and has renewed its commitment toward becoming an electric-only brand by 2030. The latter issue will also be brought up during Wednesday’s Car Summit, with the CEO praising the United Kingdom’s promise to eliminate the sale of new gasoline and diesel cars that same year.

What miraculously convenient timing.

(Read More…)

By on August 18, 2020

China’s Geely Automobile Holdings reported a first-half net profit drop of 43 percent on Monday, a tumble that forced it to reduce end-of-year targets. As you may have expected, the coronavirus was named as the biggest obstacle it had to overcome, especially in its home country. That left Geely (parent to Volvo, Lotus, Proton, Lynk & Co, Emerald Automotive, London EV and more) revising 2020 volume estimates by 6 percent to 1.32 million vehicles against the 1.36 million deliveries it enjoyed through 2019.

While enduring a bad financial year in 2020 is hardly breaking news for any major automotive manufacturer, Geely is one of many Chinese firms with global aspirations. Its role as Daimler’s second-largest stakeholder and ownership of Volvo Cars (with which it is planning a full merger) arguably makes it the corporation that’s closest to achieving that goal, too. Yet the current economic and geopolitical situation served to undermine its ultimate goal of becoming Asia’s answer to Volkswagen Group.

(Read More…)

By on August 10, 2020

China’s Zhejiang Geely Holding Group has its fingers in a lot of pies. Having purchased Volvo Cars from Ford a decade ago for $1.8 billion (a fraction of the price the Blue Oval paid), the brand has focused on scooping up troubled brands with global appeal or creating its own. In 2017, Geely purchased majority stakes in Malaysia-based Proton and UK-based Lotus Cars while attempting to turn its own Lynk & Co into a global brand.

Those are supplemental to its cadre of Asia-focused subsidiaries but no less important to its broader aspirations.

Geely has been exceptionally clear that its ultimate goal is to increase its presence around the world while improving its production capabilities. Its latest strategy involves utilizing new platforms developed for Volvo (which was already sharing architecture with Lynk) for vehicles manufactured in Asia under the Proton banner. (Read More…)

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…)

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