Geely Automotive Holdings (GELYF)

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GELYY News Geely to Develop Green Energy Cars with Foxconn

Thursday, January 13, 2011 6:19 AM

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News for 'GELYY' - (Geely to Develop Green Energy Cars with Foxconn)

HONG KONG, Jan 13, 2011 (SinoCast Daily Business Beat via COMTEX) -- China's
largest private carmaker Geely Automobile Holdings Ltd. (SEHK: 0175) yesterday
revealed that its sales volume rose 27% from a year earlier to 415,000 vehicles
in the 2010 full year, surpassing that target of 400,000 vehicles set at the
beginning of the year. Its sales growth for 2011 is expected to slow down to
18%.

Meanwhile, the top management of Geely discloses that the company has contacted
with Foxconn Technology Group and United Microelectronics Corporation (UMC) for
the joint development of smart cars and renewable energy vehicles.

Yang Jian, president of Geely Holding Group, the parent of Geely Automobile,
unveils that the company's sales volume hit 800,000 vehicles last year,
including that from Volvo, boosting its operating revenues to more than CNY 100
billion. He predicts that the sales volume will reach 2 million vehicles by
2015.

In 2010, Geely ranked number eight among Chinese sedan manufacturers, when the
country's sales volume of such cars under proprietary brands totaled 2.933
million vehicles.



Source: www.cb.com.cn (January 13, 2011)



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KEYWORD: HONG KONG

INDUSTRY KEYWORD: Transportation & automobile

SUBJECT CODE: Automobiles

Motor Vehicles

SinoCast China Business Daily news

sales volume

smart car

renewable energy

sedan

brand

Source: Comtex Wall Street News