Geely
logo of subsidiary Geely Automobile | |||||||
Type | Private | ||||||
---|---|---|---|---|---|---|---|
Industry | Automotive | ||||||
Founded | 6 November 1986 (1986-11-06)[1] in Taizhou, Zhejiang, China | ||||||
Founder | Li Shufu | ||||||
Headquarters | Binjiang District, Hangzhou, Zhejiang, China | ||||||
Area served | Worldwide | ||||||
Key people | Li Shufu (Chairman) An Cong Hui (President) | ||||||
Products | Automobiles, engines, transmissions | ||||||
Revenue | CN¥208.799 billion (2016) | ||||||
Operating income | CN¥12.542 billion (2016) | ||||||
Net income | CN¥8.409 billion (2016) | ||||||
Total assets | CN¥206.741 billion (2016) | ||||||
Total equity | CN¥38.971 billion (2016) | ||||||
Owner | Li Shufu | ||||||
Subsidiaries | List
| ||||||
Chinese name | |||||||
Simplified Chinese | 吉利控股集团 | ||||||
Traditional Chinese | 吉利控股集團 | ||||||
| |||||||
Website | www.geelyholding.com | ||||||
Footnotes / references in consolidated financial statement; shareholders' equity figure excluded perpetual bond[4] |
Geely (officially Zhejiang Geely Holding Group Co., Ltd) is a Chinese multinational automotive manufacturing company headquartered in Hangzhou, Zhejiang. It sells passenger vehicles under the Geely Auto, Lotus, Lynk & Co, PROTON, and Volvo brands and commercial vehicles under the London EV Company and Yuan Cheng Auto brands.
Geely has owned the Swedish passenger car maker Volvo Cars since 2010, when it acquired the company from Ford.[5] It completed the acquisition of British taxi maker The London Electric Vehicle Company in 2013,[6] and acquired a majority stake in British sports carmaker Lotus Cars in 2017.[7]
Geely Automobile Holdings Ltd (Chinese: 吉利汽车; pinyin: Jílì Qìchē) (SEHK: 175, OTCQX: GELYF), a subsidiary of Geely, is listed on the Hong Kong Stock Exchange.[8] On 13 February 2017, it became a constituent of the Hang Seng Index.[9]
Contents
1 Name
2 History
3 Operations
3.1 Production facilities
3.2 Manganese Bronze
3.3 Drivetrain Systems International
4 Products
4.1 Passenger cars
4.1.1 Geely marque products
4.1.2 Lotus marque products
4.1.3 Lynk & Co marque products
4.1.4 Volvo marque products
4.1.5 Discontinued brands
4.1.5.1 Emgrand
4.1.5.2 Englon
4.1.5.3 Gleagle
4.1.5.4 Shanghai Maple
4.2 Commercial vehicles
4.2.1 LEVC marque products
4.3 Motorcycles
5 Product gallery
5.1 Geely
5.2 London Taxi Co.
5.3 LEVC
5.4 Lotus
5.5 Lynk & Co
5.6 Polestar
5.7 Proton
5.8 Terrafugia
5.9 Volvo
5.10 Emgrand (Discontinued)
5.11 Englon (Discontinued)
5.12 Gleagle (Discontinued)
5.13 Shanghai Maple (Discontinued)
6 Dealer network
7 Sales
8 Safety record
9 Controversies
10 References
11 External links
Name
Geely (Chinese: 吉利; pinyin: Jílì) means "auspicious" or "lucky" in Mandarin Chinese.[10]
History
Founding Geely in 1986 as a refrigerator maker with money borrowed from family,[10]Li Shufu transformed the company into a success selling inexpensive products to Chinese consumers.[11]
After the purchase of a failing, state-run firm,[12] Geely manufactured motorcycles in the mid-1990s.[13] Small van production began in 1998,[14] and a year later, it received state approval to manufacture automobiles.[14] Car production began in 2002.[11] A subsidiary of the group, Geely Auto, had its IPO on the Stock Exchange of Hong Kong in 2004.[8]
The company had a booth at the 2005 Frankfurt Motor Show,[15] and a 2006 showing at the Detroit auto show.[10]
Geely approached Ford in mid-2008 about a possible takeover of Volvo Cars. On October 28, 2009, it was named as the preferred buyer of Volvo by the American automaker.[16] A deal was reached in late March and completed in early August, 2010.[17]
In 2010, total sales of over 415,000 units gave the company a near 2% market share.[18] Sales were lower than a reported 680,000 units per year production capacity.[19]
In December 2011, it was announced that Geely would begin selling Chinese-designed and -manufactured cars in the United Kingdom at the end of 2012, with the first model to go on sale being the Emgrand EC7.[20][21] The company has also stated its intention to begin sales in Italy.[22]
In May 2017, Geely confirmed plans to purchase a 51% controlling-stake in Lotus Cars[23] from its owner, DRB-HICOM.[2] Additionally, Geely plans to purchase a 49.9% stake in PROTON Holdings, to facilitate future export growth in right-hand drive markets.[3][24] The deals were seen as an important step for the Chinese carmaker in their quest to make inroads into the lucrative ASEAN region.[7]
In July 2017 the company purchased Terrafugia, an American maker of flying cars.[25] In November 2017, Geely announced completion of the Terrafugia acquisition, including approval from all relevant regulators.[26]
In December 2017, Geely invested € 3.25 billion into Swedish truck and construction company Volvo Group, a former parent company of Volvo Cars. [27] The deal has made the company the biggest shareholder with 8.2 % of stake and 15.6 % of voting rights.[27]
Furthering its expansion and reach, Geely purchased a 9.7% stake in Daimler-Benz, parent of Mercedes-Benz.[28]
Operations
Production facilities
Headquartered in Hangzhou, Zhejiang, Geely has production bases in Lanzhou, Gansu (completed in 2006,[29] Geely construction in the region continued as of August 2010[30] either for expanding the existing facility[29] or for a new semi-complete knock-down factory[31]); Xiangtan, Hunan;[32] an unnamed location 40 minutes south of Shanghai;[33]Jinan, Shandong province;[29] and at Linhai, Luqiao, and Ningbo, in Zhejiang.[8]
As of 2011, two Volvo manufacturing plants were planned in Daqing and Chengdu,[34] and work on a transmissions-making factory in Tongliang, Chongqing had been initiated.[35]
At least four overseas factories assemble Geely models[36] probably from semi-complete or complete knock-down kits.[citation needed] Such facilities are or have been located in Indonesia,[36] (some of its production has been imported back to China),[37]Sri Lanka (in collaboration with Micro Cars),[38][39]Malaysia,[36]Russia, (assembly is controlled by local firm Derways),[40] and Ukraine.[36] These locations are not necessarily affiliated with or owned by Geely.
Manganese Bronze
Establishing a joint venture with this British maker of London Black Cabs in 2007, Geely purchased in 2013 Manganese Bronze Holdings, initially trading as The London Taxi Company, and subsequently as London EV Company.[41]
The joint venture, Shanghai LTI Automobile Components Co Ltd, made the TX4, a licensed London Black Cab,[42] in Fengjing, Shanghai,[43] and exported semi-complete knock-down kits for assembly in the UK.[42]
Drivetrain Systems International
In 2009, Geely bought Drivetrain Systems International Pty Ltd,[44] a global transmission developer headquartered in Australia.
Products
Passenger cars
Geely sells passenger cars under five marques currently: Geely, Lynk & Co, Volvo, through its Swedish subsidiary, Volvo Cars, Lotus and Proton.[45]
Many of Geely's early products were based on the Xiali, a variant of the 1987 Daihatsu Charade. Models such as the Haoqing (豪情) (five-door), Merrie (美日) (five-door), Uliou (优利欧) (four-door), and Urban Nanny (van and pick-up truck) have Charade bases, but feature a more prominent chromed grille.[citation needed]
A sense of humor imbues the names of some Geely vehicles. One sedan is called the "King Kong", and an early model was named You Li Ou,[11] a play on words that means "better than the Tianjin Xiali or the Buick Sail", two of its competitors.[46]
Geely marque products
Geely is the group's original marque. Geely marque previous products include:
Xiali-based
- 1998–2006 – HQ/Haoqing/Haoqing SRV (豪情/豪情SRV) – 1.0 L & 1.3 L & 1.5 L hatchback
- 2003–2009 – MR/Merrie (美日) – hatchback
- 2003–2005 – MR/Uliou/MS (优利欧)
- 2001–2007 – PU/Rural Nanny/Urban Nanny
- 2003–2006 – BL/Beauty Leopard/BO (美人豹) – 1.5 L coupe
- 1998–2006 – HQ/Haoqing/Haoqing SRV (豪情/豪情SRV) – 1.0 L & 1.3 L & 1.5 L hatchback
Daewoo-designed
- 2005–2016 – CK/Freedom Cruiser – 1.3 L & 1.5 L & 1.6 L sedan
- 2005–2009 – Geely 美日之星 – 1.1 L & 1.3 L hatchback
- 2005–2016 – CK/Freedom Cruiser – 1.3 L & 1.5 L & 1.6 L sedan
- 2006–2017 – MK/LG/KingKong (金刚) – 1.5 L & 1.6 L sedan (also called Micro Sedan in Sri Lanka[47])
- 2008-2011 – Geely China Dragon (中国龙) – 1.8L CVVT coupe
Geely marque currently available products:
- Flagships
- 2015 – Geely Borui (GC9) D-segment sedan
- 2016 – Boyue X7 Sport compact crossover
- Emgrand series
- 2016 – Emgrand GS compact crossover
- 2009 – Geely Emgrand GL C-segment sedan
- 2018 - Emgrand SL Binrui C-segment sedan (Chinese B segment)
- 2016 – Emgrand GT D-segment sedan
- Yuanjing (Vision) series
- 2016 – Vision SUV compact crossover
- 2006 – Geely Vision compact sedan
- 2017 – Vision X1 (Yuanjing X1) mini crossover
- 2017 – Vision X3 (Yuanjing X3) subcompact crossover
- 2017 – Vision S1 (Yuanjing S1) compact hatchback
Lotus marque products
Current products sold under the Lotus brand included:
- 1996 – Elise
- 2000 – Exige
- 2009 – Evora
- 2016 – 3-Eleven
Lynk & Co marque products
Products sold under the Lynk & Co brand included:
- 2017 – Lynk & Co 01 A compact crossover
- 2018 – Lynk & Co 02 A compact crossover
Volvo marque products
Current products sold under the Volvo brand included:
- 2010 – Volvo S60/Volvo S60 L/Volvo S60 CC
- 2016 – Volvo S90/Volvo S90 L
- 2012 – Volvo V40/Volvo V40 CC
- 2010 – Volvo V60/Volvo V60 CC
- 2016 – Volvo V90/Volvo V90 CC
- 2017 – Volvo XC40
- 2008 – Volvo XC60
- 2002 – Volvo XC90
Discontinued brands
Geely has sold cars under at least three separate brands and may have continued to use the brand name of a purchased company for a short time. The Emgrand, Englon, and Gleagle names were phased out in 2014[48] alongside efforts to reduce sprawl,[49] and the Shanghai Maple brand name was discontinued in 2010.[50]
Emgrand
Emgrand (Chinese: 帝豪; pinyin: Dìháo) was launched in 2009 as a medium to high-end luxury brand.[51]
Products sold under the Emgrand brand included:
- 2009 – 2014 Emgrand EC7 – 1.8 L CVVT sedan/hatchback
- 2010 – 2014 Emgrand EC8 2.0L, 2.4L sedan[52]
- 2010 – 2014 Emgrand EC7-RV 1.5L, 1.8L hatchback
- 2011 – 2014 Emgrand EX7 SUV
Englon
Launched in 2010[53] and replacing the Shanghai Maple brand,[50] the company claimed Englon (Chinese: 英伦; pinyin: yīng lún) emulated classic, British style, and its model line included a TX4 sold on the Chinese market.[54] Some of its cars were built by Geely subsidiary Shanghai LTI.[55] As Geely fully acquired The London Taxi Company in 2013, the emblem of Englon also became the new logo of The London Taxi Company.[55]
Gleagle
Gleagle (Chinese: 全球鹰; pinyin: Quánqiú Yīng) was an entry-level brand.[56]
Some Gleagle cars, such as the Gleagle Panda, were available for sale on the Internet in China via the Taobao Mall, a popular e-commerce site.[57][58] While Geely would deliver the car to the customer's address, buying one of the Panda models on offer did necessitate a trip to a traditional dealer.[59]
Products sold under the Gleagle brand included:
Gleagle products include:
- 2008 – 2016 Gleagle Panda (熊猫) – 1.3L & 1.0 L CVVT hatchback, also known as the Geely LC
- 2010 – Gleagle GX2 (Panda Cross) – 1.3/1.5 L[60]
- 2011 – Gleagle CK – 1.0/1.5 L, a rebadging of the Geely CK[61]
- 2012 – Gleagle GC7 – 1.8 L four-door sedan[62]
Shanghai Maple
This brand name was affiliated with Shanghai Maple Automobile, a Geely subsidiary established in 1999.[63] It was replaced by the Englon brand in 2010.[50]
Products sold under the Shanghai Maple brand included:
- 2003–2010 – Maple Huapu (华普) M203 – 1.5 L 5-door hatchback
- 2003–2010 – Maple Hisoon (海迅) AA & AB – 5-door hatchback
- 2004–2010 – Maple Marindo (海域) M303 – 1.5 L & 1.8 L sedan
- 2005–2010 – Maple Hysoul (海尚) M305 – 5-door hatchback
- 2006–2010 – Maple Hysoul (海尚) M206/Haixuan (海炫) – car aimed specially at female consumers[64]
Commercial vehicles
Geely sells commercial vehicles under the marque LETV, through its British subsidiary London Electric Vehicle Company currently.
LEVC marque products
Current products sold under the LEVC brand included:
- 2017 – LEVC TX
Motorcycles
Geely manufactures a number of motor scooters and motorcycles from 50 to 250 cc displacement.
Product gallery
Geely
Geely Binrui
Geely Borui
Geely Borui GE
Geely Boyue
Geely Emgrand sedan
Geely Emgrand GS
Geely Emgrand GL
Geely Yuanjing sedan
Geely Yuanjing S1
Geely Yuanjing X1
Geely Yuanjing X3
Geely Yuanjing X6/ SUV
London Taxi Co.
London Taxi Co. TX4
LEVC
Lotus
Lotus 3-Eleven
Lotus Elise
Lotus Evora
Lotus Evora 400
Lotus Exige
Lynk & Co
Lynk & Co 01
Lynk & Co 02
Lynk & Co 03
Polestar
Polestar 1
Proton
Proton Ertiga
Proton Exora
Proton Iriz
Proton Perdana
Proton Persona
Proton Prevé
Proton Saga
Proton Suprima S
Terrafugia
Terrafugia Transition
Volvo
Volvo S60
Volvo S60 Cross Country
Volvo S60 Polestar
Volvo S60 Polestar TC1 (Cyan Racing)
Volvo S90
Volvo V40
Volvo V40 Cross Country
Volvo V60
Volvo V60 Polestar
Volvo V90
Volvo V90 Cross Country
Volvo XC40
Volvo XC60
Volvo XC90
Emgrand (Discontinued)
Emgrand EC7
Emgrand EC7 EV
Emgrand EC7-RV
Emgrand EC8
Emgrand EX7
Englon (Discontinued)
Englon SC3
Englon SC5-RV
Englon SC6
Englon SC7
Englon SC7-RV
Englon SX5
Englon SX7
Englon TX4
Gleagle (Discontinued)
Gleagle CK
Gleagle FC
Gleagle GC7
Gleagle GX2
Gleagle GX7
Gleagle Panda
Shanghai Maple (Discontinued)
Shanghai Maple C61
Shanghai Maple C81
Shanghai Maple Haifeng
Shanghai Maple R51
Dealer network
Geely refers to its dealer network as 4S stores and also sells some models online.[59] In 2014, it had a reported 900 retail outlets.[49]
Sales
In addition to China, Geely vehicles are sold in Argentina,[66]Australia,[67]Bahrain,[68]Brazil,[69]Chile,[70]Colombia,[71]Costa Rica,[72]Egypt,[73]Indonesia,[74]India, Iran,[75]Kuwait,[76]Nepal,[77]New Zealand,[78]Nigeria,[79]Oman,[80]Pakistan, Romania,[81]Russia,[82]Saudi Arabia,[83]South Africa,[84]Syria,[85]Taiwan,[86]Turkey,[87]Ukraine,[88]Uruguay,[89] and Venezuela.[90] In a number of markets, Geely vehicles are assembled in local factories from complete knock-down kits. Geely is also marketed in Lebanon, through the Rasamny Younes dealership network.
Cuba's government has purchased a considerable number of Geely vehicles, and they are pressed into service as police patrol cars[12] or tourist taxis throughout Havana.[91][92]
In 2010, Geely surpassed its projected 400,000-vehicle sales target for the year selling 415,286 units[93] of its 680,000 units/year production capacity[44] prompting the company to set its 2011 sales target at 480,000, a 16% increase.[93] That year, 15,596,100 units (7,793,600 passenger vehicles) were sold in China, giving Geely a 2.66% market share.[94] As more companies entered the Chinese market, their market share has fallen despite increasing sales.[95]
Safety record
A small Geely sedan, the CK, performed badly in an informal crash test conducted by a Russian magazine in 2007.[96] As a result, Geely reviewed its global export plans.[97] A 2009 1.3-liter Geely CK 1 model without airbags earned a zero-star rating in a Latin NCAP crash test on protecting adult occupants in front seats.[98]
In 2010, the Geely LC scored 45.3 points of a possible 51 in the China-NCAP crash tests, making it China's first locally researched and developed mini car to be awarded a 5-star rating,[99] and the safest Chinese hatchback[100] as of 2011.[101]
In 2011, the Geely Emgrand EC7 earned a 4-star rating in a Euro NCAP crash test.[102] In 2015 the Geely Borui received 5 stars in C-NCAP crash testing.[103]
Controversies
The Geely GE has received criticism for looking like a Rolls-Royce[104] and the LC, a Citroën C1 or a Toyota Aygo.[105]
An unsuccessful lawsuit was brought against the company in the early 2000s by Toyota, which claimed Geely had "implied in ads that some of the parts [used in Geely vehicles] were made by Toyota".[106] Geely may also have previously used a logo that resembled that of Toyota.[107]
References
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External links
- Official website
- Official Geely Motorcycles website