Geely Automotive Holdings (GELYF)

[jimbonano]

Guess I need to look for a new discussion board -

Look at this chart -
http://finance.yahoo.com/echarts?s=GELYF.PK+Interactive#chart2:symbol=gelyf.pk;range=1m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

With a 30 cent stock running up to 40 cents in a month's time and still no chatter on this board, it makes one wonder if anyone is watching this one ???

Anyone know of a discussion board where GEELY is a topic ?

[jimbonano]

Anyone know why we got such a nice spike in GEELY this morning ?

[jimbonano]

Does anyone else have the sense that some market maker is manipulating this stock?

Up 2 cents - down 2 cents
Pretty big swings for a 40 cent stock, don't ya think ?

[sfraven1466]

Now that we are gaining some traction, investors will be showing back up now that the downtrend seems to have subsided (hopefully). I got back in at .36 and now ready to see this back up to .60 - I say we should be there by EOY.

[I Like Bottom Fishing]

GELYY News Geely Automobile Unveils CVT Emgrand EC7

Tuesday, September 21, 2010 8:50 AM

Scottrade.com
This email is compliments of Scottrade.com

News for 'GELYY' - (Geely Automobile Unveils CVT Emgrand EC7)

http://202.155.223.21/~geelmhk1/en/index.html

http://www.barchart.com/detailedquote/stocks/GELYF

http://finance.yahoo.com/q?s=GELYF.PK

http://www.knobias.com/individual/public/quote.htm?ticker=GELYF

http://www.otcmarkets.com/stock/GELYF/company-info

http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=GELYF&selected=GELYF

CHENGDU, Sep 21, 2010 (SinoCast Daily Business Beat via COMTEX) -- Geely
Automobile Holdings Ltd. (SEHK: 0175) just released the CVT (continuosusly
variable transmission) version of its Emgrand EC7 series at the one-week Chengdu
Motor Show (CDMS).

After hitting the market about one year ago, the Emgrand EC718 has found itself
still in short supply because of the limited production capacity. Its total
sales volume has surpassed 50,000 cars since its launch, and its monthly sales
volume is now stably above 6,000 ones.

The CVT version is deemed to further enrich the Emgrand EC7 product mix.
Moreover, an all-new factory in Cixi, Zhejiang Province, east China, is
scheduled to start production at the end of 2010, rapidly lifting the
automaker's production capacity.

In the first eight months of this year, Geely Automobile sold more than 240,000
vehicles with a growth of 30 percent year on year.

In August alone, the automaker sold 6,258 Free Cruisers, 5,188 Geely Kingkongs
and 6194 Geely Emgrands, each rising by more than 20 percent from the previous
month on average. But it sold only 2619 Geely Visions, marking a slight fall
month on month, said earlier reports.

Source: http://www.cs.com.cn (September 21, 2010)

Geely Holding Group

http://www.geely.com
Shanghai Maple Automobile

http://www.c-sma.com
Beijing Geely University

http://www.bgeelyu.com
Hong Kong Exchanges and Clearing Limited

http://www.hkex.com.hk
China Association of Automobile Manufacturers

http://www.caam.org.cn
Manganese Bronze Holdings plc

http://www.manganese.com

Copyright 2008 SinoCast Daily Business Beat. All rights reserved

-0-

KEYWORD: CHENGDU

INDUSTRY KEYWORD: Transportation & automobile

SUBJECT CODE: Automobiles

Automobile Dealing

SinoCast China Business Daily news

CVT

Emgrand EC7

sales

production capacity

factory

auotmaker

Source: Comtex Wall Street News

[I Like Bottom Fishing]

GELYY News Geely to Expand Emgrand Production Capacity.

Monday, September 20, 2010 8:19 AM

Scottrade.com
This email is compliments of Scottrade.com

http://202.155.223.21/~geelmhk1/en/index.html

http://www.barchart.com/detailedquote/stocks/GELYF

News for 'GELYY' - (Geely to Expand Emgrand Production Capacity)

HONG KONG, Sep 19, 2010 (SinoCast Daily Business Beat via COMTEX) -- Emgrand
EC-CVT of Geely Automobile Holdings Ltd. (SEHK: 0175) lately debuted on the
Chengdu Motor Show (CDMS), signaling its foray into southwest China. Yang
Xueliang, director of public relations at Geely, reveals that the monthly sales
volume of Emgrand has topped 6,000 vehicles since its launch in the market.

Besides technology innovation kicked off in the Ningbo base of Geely, the
company's second production line for Emgrand will start production in nearby
Cixi City by the end of 2010, designed with production capacity of 150,000
vehicles a year.

In addition, Geely's Lanzhou base will expand production capacity by 20,000
vehicles of Emgrand, boosting the company's total production capacity of Emgrand
by more than 50% to 220,000 vehicles.

Since Geely has acquired the core technology of automatic gearbox through the
acquisition of Drivetrain Systems International (DSI), an Australian company
specialized in the field, Emgrand-branded car models above 1.6L will be equipped
with Geely's proprietary six-speed automatic gearboxes in mid 2011.

Geely Holding Group

http://www.geely.com
Shanghai Maple Automobile

http://www.c-sma.com
Beijing Geely University

http://www.bgeelyu.com
Hong Kong Exchanges and Clearing Limited

http://www.hkex.com.hk
China Association of Automobile Manufacturers

http://www.caam.org.cn
Manganese Bronze Holdings plc

http://www.manganese.com

Source: www.163.com (September 19, 2010)



Copyright 2008 SinoCast Daily Business Beat. All rights reserved

-0-




KEYWORD: HONG KONG

INDUSTRY KEYWORD: Transportation & automobile

SUBJECT CODE: Automobiles

Automobile Dealing

SinoCast China Business Daily news

Emgrand

production

automatic gearbox

acquisition

Australia

Source: Comtex Wall Street News

[I Like Bottom Fishing]

GELYY News DJ HEARD ON THE STREET: China's Unruly Auto Sector.

Thursday, September 16, 2010 6:15 AM

Scottrade.com
This email is compliments of Scottrade.com

http://202.155.223.21/~geelmhk1/en/index.html

http://www.barchart.com/detailedquote/stocks/GELYF

News for 'GELYY' - (=DJ HEARD ON THE STREET: China's Unruly Auto Sector)

By Andrew Peaple

A DOW JONES COLUMN

Beijing is playing a now-familiar record: China's auto industry needs to get leaner. The rest of the country isn't listening.

According to J.D. Power, nearly 80 different manufacturers compete in the light vehicle market alone. The central government has long desired some rationalization of this sprawl, and this week state media reported that China's State Council has placed the auto sector atop a list of industries needing consolidation.

It isn't the first time the authorities have made such a call. Last year, Beijing unveiled a grand plan to develop a core of auto groups to lead the domestic industry. Since then, there's hardly been an avalanche of activity. The last big deal, Changan Auto's purchase of Hafei Auto and Changhe Auto, was announced in late in 2009.

Beijing's logic is clear. A more streamlined sector will enable the larger companies to benefit from economies of scale and increased pricing power, in turn raising their profits available for re-investment. Ultimately, that could help China develop a clutch of world-class car makers.

But it seems this isn't swaying local governments which house the auto makers. In a growing market where even small car makers are doing well, they provide employment, a measure of economic growth, and a source of tax revenue to local authorities. The type of consolidation Beijing wants could see some plants slimmed down or closed, with provinces in turn losing those benefits.

The resistance is justified, for now, by China's fast-rising auto sales. Year-to-year growth may be slowing, but auto sales were still up 48% in the first half from a year earlier. Few analysts see anything other than continued expansion of car ownership in China in the coming years.

The central planners, then, are in need of a good crisis. A drop in auto sales, which would reveal high levels of industry overcapacity and lead to losses among those too small to operate profitably in a slower growth environment, would bolster its scheme. At the moment that seems far off.

Beijing may hope its car industry develops like the U.S.'s in the 20th century, with a core of leading firms emerging from an initial plethora.

But then, that process did take about a century.

(Andrew Peaple, a Columnist on Dow Jones' Heard on the Street team, has been a financial journalist since 2003. Currently based in Beijing he has also covered the U.K. economy and financial services, and is a U.K.-qualified chartered accountant. He can be reached on [phone], or by email on [e-mail])

TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at [e-mail]. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.

http://202.155.223.21/~geelmhk1/en/index.html

Geely Holding Group

http://www.geely.com
Shanghai Maple Automobile

http://www.c-sma.com
Beijing Geely University

http://www.bgeelyu.com
Hong Kong Exchanges and Clearing Limited

http://www.hkex.com.hk
China Association of Automobile Manufacturers

http://www.caam.org.cn
Manganese Bronze Holdings plc

http://www.manganese.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=q60cEOiZ5%2FO9heHs%2BsLWaQ%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

September 16, 2010 06:15 ET (10:15 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.- - 06 15 AM EDT 09-16-10

Source: DJ Broad Tape

[jimbonano]

Any ideas where there is a more robust discussion of GEELY - ?

There does not seem to be much action on this board ?

Thanks - Jim

[I Like Bottom Fishing]

GELYY News DJ Zhejiang Geely: Aim To Sell Cars On Taobao.com From Early 2011.

Monday, September 13, 2010 2:12 AM

Scottrade.com
This email is compliments of Scottrade.com
1
http://www.knobias.com/individual/public/quote.htm?ticker=GELYF
2
http://www.barchart.com/detailedquote/stocks/GELYF
3
http://www.knobias.com/individual/public/quote.htm?ticker=GELYY
4
http://www.barchart.com/detailedquote/stocks/GELYY

News for 'GELYY' - (DJ Zhejiang Geely: Aim To Sell Cars On Taobao.com From Early 2011)

http://www.taobao.com

BEIJING (Dow Jones)--China's Zhejiang Geely Holding Group Co. is in talks with e-commerce company Alibaba Group about selling its cars on Taobao.com, Alibaba's online shopping site, and aims to start the sales early next year, Geely spokesman Victor Yang said Monday.

Alibaba Group spokesman John Spelich declined to comment.

Xinhua News Agency on Sunday cited Geely, which last month completed a US$1.8 billion acquisition of Volvo Cars from Ford Motor Co., as saying it would launch a version of its Geely Panda vehicle that will only be available online as part of an online sales push.

Geely's listed unit is Geely Automobile Holdings Ltd. (GELYY) and Alibaba's is Alibaba.com Ltd. (1688.HK).

-By Owen Fletcher, Dow Jones Newswires; 8610 8400 7702; [e-mail]

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=wYm0u%2FnWccUAQ1%2FjfAjLpw%3D%3D. You can use this link on the day this article is published and the following day.

http://www.Taobao.com

(END) Dow Jones Newswires

September 13, 2010 02:12 ET (06:12 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.- - 02 12 AM EDT 09-13-10

Source: DJ Broad Tape

BEIJING (Dow Jones)--China's Zhejiang Geely Holding Group Co. is in talks with e-commerce company Alibaba Group about selling its cars on Taobao.com, Alibaba's online shopping site, and aims to start the sales early next year, Geely spokesman Victor Yang said Monday.

Alibaba Group spokesman John Spelich declined to comment.

Xinhua News Agency on Sunday cited Geely, which last month completed a US$1.8 billion acquisition of Volvo Cars from Ford Motor Co., as saying it would launch a version of its Geely Panda vehicle that will only be available online as part of an online sales push.

Geely's listed unit is Geely Automobile Holdings Ltd. (GELYY) and Alibaba's is Alibaba.com Ltd. (1688.HK).

-By Owen Fletcher, Dow Jones Newswires; 8610 8400 7702; [e-mail]

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=wYm0u%2FnWccUAQ1%2FjfAjLpw%3D%3D. You can use this link on the day this article is published and the following day.

http://www.Taobao.com

(END) Dow Jones Newswires

September 13, 2010 02:12 ET (06:12 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.- - 02 12 AM EDT 09-13-10

Source: DJ Broad Tape

[jimbonano]

News:

http://blogs.forbes.com/china/2010/08/26/winners-and-losers-in-chinas-car-market/?partner=yahootix

[deepman49]

New PR but Old News

[rstar]

looking great!

[Bucc58]

NEWS OUT - 8/2/10!!!!!!!!!!!!

Ford Motor Company (NYSE: F) today announced it has completed the sale of Volvo Car Corporation and related assets to the Zhejiang Geely Holding Group Company Limited.

The total purchase price for Volvo and related assets set forth in the agreement signed in March 2010 was $1.8 billion, including a $200 million note and the balance in cash, with the cash portion subject to customary purchase price adjustments at closing. Pursuant to the terms of the agreement, Geely today issued the note and paid $1.3 billion in cash to complete the sale. The estimated purchase price adjustments used at closing are expected to be finalized and settled following final true-up of the purchase price adjustments later this year. The final true-up is expected to result in additional proceeds to Ford.

"Volvo is an excellent brand with a strong product line, and it has returned to profits after a successful restructuring. We are confident Volvo has a solid future under Geely's ownership," said Alan Mulally, Ford's president and CEO. "At the same time, the sale of Volvo will allow us to sharpen our focus on the Ford brand around the world and continue to deliver on our One Ford plan serving our customers with the very best cars and trucks in the world."

Ford will continue to cooperate with Volvo in several areas to ensure a smooth transition, but has not retained any ownership in the Volvo business. Ford will continue to supply Volvo with, for differing periods, powertrains, stampings and other vehicle components. Ford also has committed to provide engineering support, information technology, access to tooling for common components, and other selected services for a transition period.

Agreements between Ford and Geely govern the use of intellectual property; these agreements will allow both Volvo and Ford to deliver their business plans and establish the proper use of each other's intellectual property.

"The Volvo team has made tremendous progress in restructuring its business and delivering results during the sale process," said Lewis Booth, Ford executive vice president and chief financial offer. "We believe this agreement will provide Volvo with the necessary resources, including the capital investment, to strengthen the business and to continue to move it forward in the future. We wish Volvo's management team, employees and new owners every success for the future.

"Ford appreciates the support of the Volvo management team, Volvo's labor unions and the government officials in Sweden and China during this transaction," Booth added.

As previously announced, Stephen Odell, CEO of Volvo Car Corporation, is returning to Ford as group vice president and Chairman and CEO of Ford Europe. Stuart Rowley, CFO of Volvo Cars, is returning to Ford as chief financial officer, Ford Europe.

"Volvo is a proud company with a talented and dedicated team of employees," Odell said. "I am especially pleased that with Ford's continued investment in recent years, Volvo is well positioned for the future with an exciting range of products that remain true to its core values – safety, quality, environmental responsibility and modern Scandinavian design."

About Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 178,000 employees and about 80 plants worldwide, the company's automotive brands include Ford, Lincoln and, until production ends as planned in the fourth quarter of 2010, Mercury. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com

[Honest_Devan]

no the government never approved the buy out. Only ford approved the auction. Now the county is with it. I bought this stock at .056 in 2006 (: just bought more the other week

[deepman49]

This is old news. The pps ran up .61. This a keeper for several years

[Honest_Devan]

here is the real reason

http://www.reuters.com/article/idUSTOE66S09M20100729

[Honest_Devan]

I bought $1000.00 worth of shares at .33 yesterday.. but i doubt thats why haha!

[jimbonano]

Geely up nicely ??

Anyone know what is up ??

Thanks - Jim

[huntermark]

Looks like Geely has bottomed and turned positive.
Price is now above 30-day moving average.
Other technicals look strong.
GELYF - Daily Line (solid)

[jimbonano]

Geely to Further Promote Self-developed Business Development
Monday 06/21/2010 9:10 AM ET - Sinocast

Most people think that China's self-developed cars will be heavily stricken by the joint-venture brands in 2012, but Geely Automobile Holdinggs Ltd. (SEHK: 0175) is confident of achieving a full-year sales volume of more than 600,000 units

see FULL STORY at:
http://www.sinocast.com/readbeatarticle.do?id=46102

[jimbonano]

Good points -
Thanks for the thoughtful response -

I'm wondering (really, really hoping NOT) if they are mulling over a reverse split.
I would hope that they buy back shares rather than even consider a reverse.

So, I still believe that - with the 1.65 Billion people and a growing middle class who are hungry to be first time auto owners - that perhaps even this year (hope-hope), we 'longs' may be rewarded for our patience even in 2010.......

Regards - and good to read a post here from time to time --

[jimbonano]

Good points -
Thanks for the thoughtful response -

I'm wondering (really, really hoping NOT) if they are mulling over a reverse split.
I would hope that they buy back shares rather than even consider a reverse.

So, I still believe that - with the 1.65 Billion people and a growing middle class who are hungry to be first time auto owners - that perhaps even this year (hope-hope), we 'longs' may be rewarded for our patience even in 2010.......

Regards - and good to read a post here from time to time --

[Dreuth]

There are two things, in my view, that are playing against Geely:

1. When there is an acquisition, the stock of the company that was acquiring goes down (the one of the acquired company goes up). This is absolutely normal. Besides, Geely has contracted big loans that it has to repay.

2. There is way too much shares in circulation. This explains in part why the stock has difficultly to climb despite excellent sales results. I would not be surprised if Geely’s management was preparing (eventually) to buy back some.

As many people have said on this hub: Geely is a long term investment. It is still relatively risky, but the buying of Volvo will slowly transform the company in a world competitor producing good reliable cars. It’s as a future Hyundai.

And if they don’t sell in Europe and in North America it does not matter.

China’s population is a colossal market. It’s more than enough.

I advise patience.

[jimbonano]

On the other hand - the market may see it as a sign of strength that GEELY is moving to take a controlling interest in MANGANESE BRONZE.

-- Why? --

Well, because the 'visionary' may be seen as someone who can make a difference and leverage Manganese Bronze to the next level.

Perhaps the 'market' will see the future of GEELY via Volvo and understand that we will soon be driving a GEELY to work and back here in US.

As more and more of the middle class in China become care owners, this will increase GEELY's market share as well. I think things are positive not negative.......for PPS.

So to suggest that GEELY will drop into the .15 to .20 range sounds like a 'wishful-scare-statement' that someone playing the short game would say in order to cause some panic selling into his short position....?

I say Go GEELY !!

[Gimme Some Truth]

Along with the purchase of VOLVO from FORD, and, if GEELY purchases enough shares to own controlling interest in MANGANESE BRONZE, I suspect GEELY will settle down to between .15 and .20 a share. Reason being, they are spreading themselves pretty thin and investors don't like seeing that. However, that being said, I have in the back of my mind Li Shufu starting his whole business career on a $150 graduation present and starting a photo developing company in his home town some 40 years ago or so, and parlaying that into being one of the richest individuals in China. China, mind you. Li Shufu is a man with a vision.

Still, GEELY is another 4 to 6 years from selling the GEELY brand here in the US Market. And thats with the purchase of VOLVO. GEELY will incorporate some of the safety technology from VOLVO to pass muster to market in the USA, and, with VOLVO dealerships established here, will have an accessible distribution foothold in the American market. It's a gamble, but again, I reiterate, Li Shufu is a man with a vision. They laughed and doubted Henry Ford, but FORD is the only surviving member of the BIG THREE.

When the shares get to .20, I will add more shares to my collection. All told, I believe in 10 years time, GEELY will be between $30 and $60 a share. Its a long wait. Its a big gamble. Nothing in life is sure except death and taxes. But I am willing to gamble on Li Shufu, the man with a vision...

[sfraven1466]

Sold all 100K shares today. Went from up 50% ($20K), to selling at a 8% loss. I'm sure no one expected this to happen. I have a feeling the Hang Seng will tank as well tonight after this negative market sentiment/volatility. The Hang Seng is already way under its 200 day SMA and oversold with a RSI of 33.

I am pissed off at myself for not taking profits, but in a way I am also encouraged because we know this sell off is completely irrational and will be back to its previous levels within a few months time if not sooner.

If Geely falls through the next two levels of support we will be below .30; hopefully we will test these previous lows from October of last year. Talk about a perfect opportunity to start over with a new cost basis without the uncertainty of where this is headed. This is great for those who plan to hold until 2015. We may NEVER see these levels again. I am actually blown away that we are seeing them now- completely irrational.

[jimbonano]

Steadily ratcheting downward since middle of March........
http://finance.yahoo.com/q/bc?s=GELYF.PK+Basic+Chart&t=3m

Any thoughts out there as to why ?

[jimbonano]

ALL -

I am looking for an email address for
GEELY INVESTOR RELATIONS

I also would like a USA phone #, a mailing address, or any other info that would allow me to make contact with the company.

First choice is an email address - the only one I could find was pretty generic [e-mail]

Thanks - Jim

[MinnieM]

I've been wondering what's going on and can't find anything in particular. They may simply be a victim of the overal market dumping.

[jimbonano]

This was in Wall Street Journal on April 23

I don't know how this could have been any more positive !!!!

http://online.wsj.com/article/SB10001424052748704830404575199743440093442.html

[mthead]

Might just be the market. I know the Shanghai Composite took a dump last week.

[aabonano]

Hold on a little longer...

[jimbonano]

Down 3 cents -

Pretty painful day for a Sub 1$ stock -

Anyone know what is going on ?

Thank -
Long term holder - -

Jim

[mthead]

If you want to read something nice - The 2009 Annual Report to Shareholders can be seen at http://www.hkexnews.hk/listedco/listconews/sehk/20100419/LTN20100419083.pdf

It's a big pdf download so give it time. It includes the audited financial statement (begins on page 66).

Enjoy!

[mthead]

That's a nice plan. Here's hoping it works out. JMO but I think GELYF is a good buy right now.

[deepman49]

Some Are Selling on the News and 10% decline in pps allows LONGS to Add for the future. 18 mths from now this stock could be $5 with all the Volvo USA dealers selling the Geely cars sales will continue to grow.

I know people who are working their way to 100,000 shares and will retire with $500,000 when the stock hits $5.00

GLTA

[Honest_Devan]

just picked up 2000 shares at .48 today this company is not going away. Normally when a company buys another company that stock goes down and the company getting bought goes up

[jimbonano]

Two days in a row -

Anyone out there know why GEELY is slipping and sliding downward ?

[Honest_Devan]

no point just showing how much i loved this stock

[deepman49]

godd for you, whats your point

[Honest_Devan]

dont forget i bought this at .056 2 years ago (:

[deepman49]

Geely's Li to go global with Volvo deal
Reuters - Saturday, March 27

By Doug Young

HONG KONG, March 26 - Geely founder Li Shufu, China's Henry Ford, looks set to rewrite the automotive history books this weekend with the purchase of Ford's <F.N> Volvo car unit, which would be China's largest offshore auto deal. [ID:nLDE62P184]

Li, very much a plain-folks character, shares many traits with Ford, from a childhood on the farm to a scrappy determination to build a car-making behemoth from nothing.

Li's Geely, which means auspicious or lucky in Chinese, captured the imagination of car buffs worldwide with its dark-horse bid for the well-known but loss-making Swedish brand being sold by Ford, which is expected to be sealed on Sunday.

Born in 1963, Li comes from eastern China's Zhejiang province just south of Shanghai, known for producing some of China's best and brightest entrepreneurs.

A mechanical engineer by training, Li lives in a modest apartment in Beijing, said Lawrence Ang, executive director of Zhejiang Geely Holdings' publicly traded arm, Geely Automobile <0175.HK>.

Now one of China's richest men, Li began modestly. After graduating from high school, he used a small graduation gift to buy a camera and open a photo studio in his village.

He put earnings from that business into an operation salvaging gold from discarded appliances before moving into the refrigerator parts business in 1984.

Motorcycles were next, as he took over an ailing state-run firm in the mid-1990s and turned it into China's best-known domestic brand. He later moved into cars, and built his company into China's largest privately held automaker, aiming to sell 400,000 vehicles this year.

Like Henry Ford, to whom the Economist magazine compared him, Li's focus is on the mass market, with models such as the Free Cruiser and Geely Kingkong, which sell for as little as 40,000 yuan . In contrast, Volvo's top of the line XC 90 sells for up to $205,000 in China.

SURGING STOCK

Hong Kong-listed Geely Automobile has seen its stock soar more than 12-fold since 2006, including a more than six-fold jump in 2009 alone on high hopes for the Volvo bid, strong sales in the world's largest car market and a major investment by Goldman Sachs <GS.N>.

Li, increasingly setting his sights on expanding onto the global stage, is also nearing a deal to increase Geely's hold on lossmaking London black cab taxi maker Manganese Bronze <MNGS.L> by taking a controlling stake and moving more of the production of the TX4 cab to China. [ID:nLDE62G067]

But Li's apparent early distaste for politics also cost him along the way. His lack of political savvy and government connections almost kept him out of the auto business altogether due to China's complex licensing and permitting requirements.

More recently he has become more practiced at navigating China's political waters, and now serves as a member of the Chinese People's Political Consultative Conference, a largely ceremonial political advisory body.

His bid for Volvo was publicly endorsed by Beijing, in contrast to General Motors' [GM.UL] efforts to sell its gas-guzzling Hummer brand to Tengzhong, a little known Chinese machinery maker, which foundered after failing to get state backing.

"Li is indeed a man with vision. He is someone that shouldn't be underestimated," said a senior executive with a major Chinese state auto group who asked not to be identified as he is not authorised to talk to the media.

"I think he has a big chance to make it because he has the Chinese government and, most of all, the huge China market behind him."

[deepman49]

Geely signs $1.8 billion deal for Ford's Volvo car unit
On Sunday March 28, 2010, 11:33 am EDT
By Victoria Klesty

GOTHENBURG, Sweden (Reuters) - Zhejiang Geely Holding Group, China's largest private-run car maker, agreed on Sunday to buy Ford Motor's (NYSE:F - News) Volvo car unit for $1.8 billion, the country's biggest overseas auto purchase.

The takeover underscores China's arrival as a major force in the global auto industry and ends nearly two years of talks with Geely over Volvo -- the last sale from Ford's former premier group, which also held Aston Martin, Jaguar and Land Rover.

"Today represents a milestone in the history of Geely," Geely chairman Li Shufu told a news conference, adding that Volvo Cars would remain a separate company with its own management team based in Sweden.

Such a deal would have been nearly unimaginable a few years ago for the Chinese carmaker, which on 2009 forecasts has a turnover of only 16 percent of Volvo's, and has just over half the workforce.

The deal highlights in particular the big opportunities that have emerged from the financial crisis for smaller players. Tiny Dutch sports car maker Spyker (Amsterdam:SPYKR.AS - News) clinched a deal in January to buy Sweden's Saab from General Motors Co (GM.UL).

Geely said it had secured all the necessary financing to complete the deal, though it remained open to a possible loan from the European Investment Bank.

Addressing questions regarding Geely's plans to keep production lines running in Europe, Li said it was important Volvo stayed close to key supply centers.

"I have a deep belief that the manufacturing footprint in Gothenburg and Belgium will be preserved in the longer term," he said.

Volvo labor unions, which had been critical of the proposed deal and complained about a lack of information about the future of the company, said they now backed the takeover.

A "FAIR PRICE"

The deal, which both sides aim to close in the third quarter, will help free up cash for the number two U.S. automaker and enable it to focus on its core Ford brand.

Geely, parent of Geely Automobile Holdings (HKSE:0175.HK - News), was named by Ford as the preferred bidder for its loss-making Swedish unit in October 2009.

The Chinese carmaker clinched Volvo at a price tag well below the $6.5 billion Ford paid for it in 1999.

"We think it's a fair price for a good business," Ford Motor's Chief Financial Officer Lewis Booth told the news conference.

China raced past the U.S. to become the world's top auto market last year, with sales surging 46 percent to a record 13.6 million units. It is keen to move into Western markets but has so far lacked the technology and brand recognition to do so.

The Volvo deal should help the Chinese carmaker to get around some of those obstacles more quickly.

BEIJING BOOST

Geely's chairman is already planning a factory in Beijing which will make 300,000 Volvo branded cars, or as many Volvos for China as are now made abroad for foreigners.

Unlike General Motors' (GM.UL) failed deal to sell its gas-guzzling Hummer brand to Tengzhong, a little known Chinese machinery maker, Geely's Volvo purchase has been backed by Beijing.

Made-in-China Volvo may get a boost from Beijing's plan to support domestic brands and replace Volkswagen AG's (XETRA:VOWG.DE - News) Audi A6 as Chinese state officials' car of choice.

"We want to stabilize and enhance the traditional markets in Europe and North America, and at the same time develop the other Volvo business in emerging markets, including China," Li said.

The carmaker has already announced an aggressive target of boosting its sales to 2 million vehicles by 2015 from last year's roughly 330,000 units -- about the same as Volvo's global output.

[deepman49]

China VP Sweden-bound as Geely-Volvo deal nears

Fri Mar 26, 2010 1:58am EDT

* Deal expected on Sunday, Chinese VP headed to Sweden

* Deal would be largest overseas M&A by Chinese carmaker

* Volvo union withdraws support for the deal

By Alison Leung

HONG KONG, March 26 (Reuters) - Chinese Vice-President Xi Jinping will travel to Sweden this weekend, amid talk he will attend the signing of a deal for Zhejiang Geely Holding Group to buy Ford Motor's (F.N) Volvo car unit for as much as $2 billion, China's biggest ever overseas auto acquisition.

During his four-day state visit starting Saturday, Xi will meet Sweden's king and senior officials and visit the city of Gothenburg, China's official Xinhua News Agency reported.

Volvo spokesman Olle Axelson confirmed that preparations were underway for an announcement at the company's headquarters in Gothenburg, the Detroit News reported. It and other foreign media quoted unidentified sources saying the ceremony would be held on Sunday, with Xi in attendance.

A Zhejiang Geely representative declined to comment, but told Reuters on Friday that the company still aimed to sign a sales and purchase agreement by the end of March.

China surpassed the United States to become the world's biggest car market last year, and is keen to move into Western markets but lacks the technology and brand recognition to do so. Deals like the Volvo purchase would help Chinese carmaker to get around some of those obstacles more quickly.

Zhejiang Geely, parent of Hong Kong-listed Geely Automobile Holdings Ltd (0175.HK), plans to pay up to $2 billion for Volvo and pull the Swedish carmaker out of the red by 2011 by adding a new factory in China to nearly double its annual global production. [ID:nTOE60P02U]

However, unions at Volvo have withheld their backing for the deal, setting the stage for a potentially troublesome takeover.

On Thursday, Volvo unions said in a joint statement that they had still not received any information about how the capital needs of Volvo would be met, nor which investors were backing the deal and the composition of management of the company.

Organised labour cannot block the deal, but the backing of employees and politically influential unions will be important if Zhejiang Geely's goal of pulling the Swedish carmaker out of the red by the end of next year is to be achieved. [ID:nLDE62O1YL]

A Geely representative declined to comment on the union opposition. (Additional reporting by Fang Yan)

[jimbonano]

http://www.geely.com/Brands/international/news/international_news/30264.html

[mthead]

Interesting, Jim. And good news too. Got a link?

[jimbonano]

Sorry if this is old news - just thought is was interesting - -

Recently, purchasing delegation of Cuba Ministry of Tourism, headed by Minister Manuel Marrero Cruz, pays a visit to Geely.

The delegation signs a purchasing order of 500 AT vehicles with Geely and shows great interests on further trading.

The Minister announces that after site-visiting of Geely Group they are quite impressed by the fast development of Chinese automobile industry.

[jimbonano]

Thought this was interesting

Geely selling locally manufactured cars while NEP selling domestically produced oil.

finance.yahoo.com/news/China-North-East-Petroleum-prnews-1215781077.html?x=0&.v=8

[deepman49]

Geely faces hurdles in Volvo buy, no quick deal seen -paper

Tue Mar 16, 2010 10:22pm EDT

HONG KONG, March 17 (Reuters) - China's homegrown automaker Zhejiang Geely Holding is facing financing and technology hurdles in its bid to pay up to $2 billion for Ford 's (F.N) Volvo car unit and the likelihood of a short-term deal is low, China Daily reported on Wednesday.

"The two parties are yet to reach a definitive agreement due to unsolved obstacles and uncertainties," China Daily quoted sources familiar with the matter as saying.

Zhejiang Geely, the parent of Hong Kong-listed Geely Automobile (0175.HK), had previously indicated it expected to reach a formal deal last month, but company chairman Li Shufu told reporters earlier this month that an official agreement had not been signed yet. [ID:nTOE62403R]

Geely was now in a relatively weak position compared to last year when Ford had cash flow problems and the two sides had not agreed on the technology transfer issue, the paper said.

After the deal, Geely would have to spend at least $1.4 billion to finance car development and marketing, and whether the Chinese company would be able to secure the necessary funds was a major issue, China Daily added.

But a source close to Geely told Reuters on Wednesday that negotiations on buying Volvo were progressing on schedule and a stock purchase agreement was expected to be signed in the first quarter, with the deal to be completed in the second quarter.

Geely, China's largest privately owned carmaker, had aimed to complete the purchase of Ford's Volvo unit for up to $2 billion by May, according to a document seen by Reuters. [ID:nTOE60P02U] (Reporting by Alison Leung; Editing by Don Durfee and Jonathan Hopfner)

[deepman49]

should be a Good Day today based on this,

0175.HK 2:59am ET 4.16 +.15 +3.74%