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57-459: The Geely group from Hangzhou introduced this brand for automobiles at the end of 2008. The other brands Englon and Emgrand followed in June and July 2009, respectively. In 2014, Geely announced that it would phase out these three brands and would once again sell all vehicles under the brand Geely expel. In 2015, this restructuring was still ongoing and completed in 2016. Products sold under

114-570: A 50-50 joint venture to develop and operate the Smart brand as a global electric vehicle brand. The venture, later named Smart Automobile Co., Ltd. is headquartered in Ningbo, Zhejiang . It has a registered capital of CN¥ 5.4 billion, with each company contributing CN¥2.7 billion. The new all-electric Smart model from this joint venture was launched globally in 2022 as the Smart #1 , previously showcased as

171-466: A Geely subsidiary established in 1999 and phased out in 2010. The brand was temporarily revived in 2020 by launching its first EV, the Maple 30X . In 2022, Geely launched the joint venture between Lifan and Maple called Livan ( Chinese : 睿蓝 ), and the previous Maple products were reconsolidated into Livan. Lotus Cars is a British carmaker established in 1948 that produces sports and racing cars. It

228-634: A company listed on the Hong Kong Stock Exchange under the trading code 0175HK. In March 2004, Guorun was renamed Geely Automobile Holdings Limited , a company under ZGH, retaining the same trading code. This strategy was seen as Geely's "backdoor" entry into the Hong Kong stock market, providing a means to raise funds for the company. In 2006, Geely bought a 19.97 percent equity stake in British company Manganese Bronze Holdings ,

285-407: A former parent company of Volvo Cars . The deal made ZGH the biggest shareholder by number of shares with an 8.2% stake, and second by voting rights, with 15.6%. In September 2019, ZGH led a round of private funding for Volocopter that raised $ 55   million for the company. Volocopter's other private investors also include Daimler AG which owns a stake in the company. In late July 2020, it

342-625: A joint venture holding company with both as co-owners. The joint venture was officially established in late May 2024 as Horse Powertrain Limited , headquartered in London , United Kingdom. In January 2021, ZGH announced a deal to create an electric vehicle joint venture together with Baidu , a Chinese multinational technology company specializing in Internet-related services, products, and artificial intelligence (AI). Baidu would develop

399-694: A limited-production gold-painted version of Polestar 1 was released. Only 25 units were produced. In 2019, Polestar announced their second car, the Polestar 2 electric car. It was unveiled on 27 February 2019, in an online unveiling which was broadcast from the Polestar headquarters in Gothenburg , Sweden. Directly after, it had its public debut at the 2019 Geneva Motor Show . It is produced at Volvo Cars 's existing plant in Taizhou , China. It received

456-553: A major new shareholder, directly owning approximately 24% of Polestar. The free float also rose to about 18% of shares at that time, signifying that Volvo's February plan had been substantially realized. The company origins can be traced to the 1996 foundation of Flash Engineering , a Swedish racing team competing in Swedish Touring Car Championship (STCC). The team was sold and rebranded as Polestar Racing , which began modifying Volvos for racing in

513-402: A mid-life refresh for its 2024 year-model, switching to a rear-wheel drive layout for its single-motor option, and various performance and cosmetic changes for the base model and performance package, respectively. It will also replace the existing front grille with a body-color front-end treatment that houses new safety hardware, including a front-facing camera and a new mid-range radar, matching

570-698: A new company under its British subsidiary called The London Taxi Corporation, later renamed London Electric Vehicle Company , to resume assembly of the London black cab in Coventry , UK. In 2009, Geely bought an Australian transmission company Drivetrain Systems International (DSI), at that time the second largest automatic transmission manufacturer for A$ 70 million . In 2014, Geely sold 90% of its stake in DSI to multiple other Chinese companies after

627-580: A new line of 3- and 4-cylinder diesel and petrol engines to replace larger engines. It has also developed a new vehicle platform called the Scalable Product Architecture (SPA) . Sales reached 500,000 vehicles in 2015 for the first time in the brand's history, and continued to over 700,000 in 2023. Both company jointly developed engines and platforms, notably the Compact Modular Architecture platform that

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684-705: A performance and tuning brand owned by Volvo Cars, would become a standalone brand focusing on electric cars. Polestar introduced its first product, the Polestar 1 coupé on 17 October 2017. The car was produced at the Polestar Production Centre in Chengdu , China. Following an initial public offering , Polestar shares began trading on the Nasdaq exchange under the symbol PSNY on 24 June 2022. In December 2017, ZGH invested €3.25   billion into Swedish truck and construction company Volvo Group ,

741-572: A proposed merger of both businesses. In the existing arrangement, Volvo Cars has been allowed autonomy with its resources despite being fully owned by ZGH. These merger talks were later halted, and 18% of Volvo Cars shares were listed on the Nasdaq Stockholm stock exchange in October 2021. In   March 2021, ZGH launched the Zeekr brand for premium electric vehicles. Its first model,

798-455: A special version of Polestar 2 was released as a Polestar Engineered product: the limited-production Polestar 2 BST edition 270, of which only 270 will exist. As of December 2023, Polestar is a publicly-traded company trading under the symbol PSNY on the Nasdaq stock exchange. Key figures: Polestar has been working with Volvo since 1996, starting with racing Volvo cars and being involved in

855-498: A standalone brand focusing on electric cars. The brand introduced the Polestar 1 on 17 October 2017, a 2+2 coupé inspired by Volvo's Concept Coupé introduced in 2013, which includes influences from the Volvo P1800 . The Polestar 1 was built between 2019 and 2021, and was built in a new purpose-built Polestar Production Centre in Chengdu , China, from 2019 at a rate of up to 500 per year. During its final year of production,

912-714: Is Geely Group's original and mainstream brand, primarily sold in China and select overseas markets. It has an electric vehicle product line, the Geely Galaxy for premium EV/PHEV. Geely Galaxy ( Chinese : 吉利银河 ) is Geely's mass-market range of new energy vehicles ( plug-in hybrid and battery electric vehicles) that was established in February 2023. In October 2024, the Geely Geometry line has been merged with Geely Galaxy. Radar Auto ( Chinese : 雷达汽车 )

969-466: Is a Chinese multinational conglomerate headquartered in Hangzhou, Zhejiang . The company is privately owned by Chinese entrepreneur Li Shufu , and mainly engaged in the automotive industry . Geely was founded 1986 as a refrigerator parts company, before transitioning to motorcycles in 1994 and entering the automotive industry in 1997. ZGH as a holding company was founded in 2003. As of 2023 ,

1026-716: Is a battery electric pick-up truck brand owned by ZGH. The brand's first vehicle, the Radar RD6 , was unveiled in 2022. The brand was consolidated into Geely Auto in November 2024. Polestar is a publicly traded electric car brand established in Sweden under the Volvo Cars Group. Polestar was initially 50.5% owned by ZGH and 49.5% by Volvo Cars. Zeekr ( Chinese : 极氪 ) is a premium battery electric vehicle brand of ZGH owned by Geely Automobile Holdings. The company

1083-511: Is listed on the New York Stock Exchange since May 2024. The brand was founded in 2021 as an offshoot of Lynk & Co , as its first vehicles were meant to be Lynk & Co models. However after a major shareholding restructuring in 2024, it holds 51% of Lynk & Co currently. Lynk & Co ( Chinese : 领克 ) was established in 2017 that uses technology developed jointly by Volvo Cars and Geely Auto. Before 2024, It

1140-567: Is owned 51% by ZGH since 2017, while the rest is owned by Etika Automotive. Farizon Auto ( Chinese : 远程汽车 ) was established in 2016 to focus on the development and sales of electric commercial vehicles. Farizon also has a sub-brand called Ouling ( Chinese : 欧铃 ) selling gasoline-powered lower end micro trucks. London Electric Vehicle Company (LEVC) is a brand owned by ZGH that produces and sells electric black cabs . It adopted its current name in 2017 to reflect its new mission of developing and producing electric commercial vehicles. It

1197-594: Is the heir to the C30 Polestar, featuring 508 BHP from a modified T6 engine, launched in June 2012. The car sprints from 0–100 km/h (0–62 mph) in 3.9 seconds with a top speed of over 300 km/h (190 mph). Motor Trend tested the car at Mazda Raceway Laguna Seca , where it broke the lap record for four-door cars, matching the lap time of an Audi R8. Selection of petrol and hybrid powered Volvo-based Polestar models: In October 2017, Volvo Cars and Geely Holding announced that Polestar would become

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1254-622: Is too close to those of its Citroën and DS Automobiles brands. In the absence of an amicable agreement, Citroën took to the Tribunal de grande instance in July 2019. The latter, in a decision dated 4 June 2020, found in favor of the French manufacturer, decision confirmed on appeal on 14 June 2020. As a result, from December 2021, Polestar vehicles cannot be purchased in France. In September 2022, it

1311-477: Is used by Volvo, Geely and Lynk & Co vehicles. Improving technical expertise and a sophisticated production management system led to a significant sales surge for Geely from 2010 onwards. In October 2016, Geely Auto released its new brand called Lynk & Co in Berlin , Germany, which is intended to bridge the gap between Geely and Volvo brands. The brand was launched with three production models, all based on

1368-524: The Compact Modular Architecture (CMA). In August 2017, ZGH, Geely Automobile Holdings and Volvo Car Group signed an agreement at Geely Auto's Hangzhou Bay R&D Center to establish the Lynk & Co joint venture. Geely Auto controls 50% of Lynk & Co, Volvo Cars held 30%, and ZGH held the remaining 20%. In May 2017, ZGH purchased a 51% controlling-stake in Lotus Cars from its owner, DRB-HICOM ,

1425-681: The Concept #1 at the 2021 Munich Motor Show. Smart electric vehicles from the partnership are based on the Sustainable Experience Architecture (SEA) electric vehicle platform developed by Geely. In August 2021, ZGH through its subsidiary Geely Auto formed a strategic partnership with Renault . In January 2022, the two companies signed an agreement by which Renault's South Korean subsidiary, Renault Korea Motors , would produce vehicles based on Geely Compact Modular Architecture platform , initially intended for

1482-526: The London EV Company , Radar Auto and Farizon brands. It produces motorcycles under its subsidiaries Zhejiang Geely Ming Industrial (Jiming and Geely), Qianjiang Motorcycle (QJMotor and Keeway), and Benelli . It also holds a 17% stake in Aston Martin and owns half of Horse Powertrain , an engine manufacturing joint venture with Renault . Geely is a phonetic transliteration of

1539-527: The Zeekr 001 was launched in April 2021, and deliveries began in October 2021. In May 2024, Zeekr filed its initial public offering (IPO) on the New York Stock Exchange . Zeekr raised around US$ 441 million , making it the largest IPO of a Chinese company since 2021. In February 2024, Volvo Cars announced its plan to reduce its stake in Polestar by the third quarter of 2024 from currently 48.3% to around 18% by ceding it to ZGH. In September 2024, Li Shufu,

1596-611: The Gleagle brand include: In 2009 over 28,000 vehicles were sold. The following year the number rose to 199,198. In 2011 there were 177,730. In 2012, sales remained almost the same at 176,999 vehicles. No figures are known for the following years. At the end of 2010, this brand had 363 car dealerships in China. One year later, it was 336, and next year 324. Geely Zhejiang Geely Holding Group Co., Ltd. (ZGH) , commonly known as Geely Holding ( / ˈ dʒ iː l i /  ; Chinese : 吉利控股 ; pinyin : Jílì Kònggǔ ),

1653-493: The Polestar 3, dubbed the "SmartZone". In March 2022, Polestar launched a roadster concept named the Polestar O 2 , and later in August 2022, Polestar announced a sixth new roadster model dubbed Polestar 6 based on the O 2 concept car, expected to enter production in 2026. In 2023, Polestar announced construction of its new headquarters – a 80,000 m (860,000 sq ft) building in central Gothenburg . Under

1710-585: The United States, and South Korea. The brand originated from Flash Engineering , a Swedish motorsport team established in 1996 that competed in the Scandinavian Touring Car Championship . In 2005, the team was sold then rebranded to Polestar Racing , which later operated a production car tuning division called Polestar Performance AB. In July 2015, the Polestar brand was acquired by Volvo Cars, which repositioned

1767-403: The acquisition of British taxi maker Manganese Bronze Holdings in 2013 and restructured it into London Electric Vehicle Company . In 2017, ZGH acquired a majority stake in British sports carmaker Lotus Cars in 2017. ZGH's business is divided into five business units: Geely Auto Group which includes the brands Geely Auto, Lynk & Co, and Proton Holdings ; Volvo Car Group which includes

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1824-481: The automotive value chain , from research and development and design to production, sales and service. Geely was established in 1986 in Ningbo, Zhejiang by Li Shufu as a refrigerator parts manufacturer located in Taizhou, Zhejiang . To start the company, Li Shufu had to borrow funds from his family. In 1994, Geely transitioned into the motorcycle industry by acquiring a state-run firm , and started producing China's first scooter . In 1997, Geely completed

1881-481: The brand as an electric vehicle manufacturer since 2017. The racing team was then rebranded to Cyan Racing , while still maintaining close ties to Volvo. The current United Kingdom-based holding company of Polestar, Polestar Automotive Holdings UK PLC was jointly formed in 2021 by Volvo Cars and Geely Holding Group. Polestar shares began trading on the Nasdaq exchange under the symbol PSNY on 24 June 2022. In February 2024, Volvo (itself 79.5% owned by Geely at

1938-541: The brand was ranked among the top ten in the Chinese automobile market. In 2002, Geely was restructured from being a family-operated entity to a joint-stock company managed by professional management. On 24 March 2003, Zhejiang Geely Holding Group Co., Ltd. (ZGH) was established with a registered capital of CN¥ 930 million. In January 2004, Li Shufu bought controlling shares in Guorun Holdings Co., Ltd.,

1995-460: The brands Volvo Cars and Polestar ; Geely New Energy Commercial Vehicle Group which include the brands London Electric Vehicle Company and Yuancheng (Farizon); Geely Group (New Business) which includes the brands Caocao, Terrafugia , Qianjiang Motorcycle , Joma , and other new businesses; and Mitime Group ( 铭泰集团 ; Míngtài Jítuán ) which includes ZGH educational institutions, motorsports business, and tourism business. Its global operations span

2052-749: The carmaker's first-ever SUV, the Proton X70 was introduced in Malaysia in December 2018. It is based on first-generation Geely Boyue . In July 2023, after the internal restructuring in Geely Group, the Proton brand was consolidated into the balance sheets of Geely Auto . Volvo Cars is owned 78.7% by ZGH (post Volvo Cars IPO). ZGH acquired Volvo Cars from Ford Motor Company in 2010. The Maple brand name originated with Shanghai Maple Automobile ,

2109-590: The company ranks 225 in the 2023 Fortune Global 500 list of the world's largest companies. In 2023, the group produced a total of 2.79 million vehicles globally, including 980,000 plug-in electric vehicles . The company manufactures and sells vehicles under the brands of Geely and Lynk & Co , which are part of the Geely Auto Group business unit, along with its subsidiaries and joint ventures such as Zeekr , Volvo Cars , Polestar , Proton , Smart and Lotus , as well as commercial vehicles under

2166-489: The company suffered losses. Following continuing losses in that year, Ford Motor Company offered Volvo Cars for sale in December 2008. On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was ZGH. On 23 December 2009, Ford confirmed the terms of the sale to ZGH had been settled. A definitive agreement was signed on 28 March 2010 for US$ 1.8 billion . The European Commission and China's Ministry of Commerce approved

2223-624: The company's native name 吉利 ( pinyin : Jílì ), which means "auspicious" or "propitious" in Chinese . Geely entered the automotive industry in 1997, but only officially received national production license in November 2001. Following a restructuring of Geely, ZGH was established as a holding company largely owned by Li Shufu in March 2003. ZGH acquired the Swedish passenger car maker Volvo Cars from Ford Motor Company in 2010. It completed

2280-602: The construction of relevant factories and initial investment preparations to enter the automobile industry. This made Geely the first private automobile company in China, whereas other carmakers are state-owned enterprises such as Chery . Geely's first car, the Geely Haoqing , rolled off the assembly line in Linhai, Zhejiang on 8 August 1998. However, Geely did not obtain its national production license until 9 November 2001, which delayed mass production until 2002. By 2002,

2337-403: The deal on 6 and 29 July 2010, respectively. The deal closed on 2 August 2010 with Geely paying $ 1.3 billion cash and a $ 200 million note. At the time of the purchase, is the largest overseas acquisition by a Chinese automaker. This acquisition facilitated Volvo's recovery and brought significant technological and managerial advancements to Geely. Under Geely ownership, Volvo Cars has developed

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2394-503: The development of race cars for Cyan Racing . In 2014, Polestar was involved in the development of a V8 powered Volvo S60 that was raced by Garry Rogers Motorsport in the Australian V8 Supercars series. Robert Dahlgren was seconded to Australia in 2014 as part of this programme and pulled out in the end of 2016. In 2019, French brand Citroën considered that the Polestar company logo – also formed of chevrons –

2451-532: The domestic market. As of January 2022 , production was slated to start by 2024. In May 2022, Renault said a Geely subsidiary was set to acquire a 34% stake of Renault Korea Motors through capital increase as part of their partnership, although the company would continue to be majority owned by Renault and a consolidated subsidiary of it. In November 2022, Renault said it plans to combine its powertrain production and development operations (including internal combustion engines and hybrid systems) with Geely's into

2508-553: The electric car's software while Geely would manufacture the car. The companies formed Jidu Auto in the same year, combining elements of both company names. Later, in August 2023, they launched the Ji Yue brand, with Geely owning 65% and Baidu 35%. Ji Yue is a subsidiary of Geely Group that was formed to circumvent restrictions on car manufacturing qualifications. Jidu Auto now focuses on technology solutions, including product design and AI development, for Ji Yue vehicles. Geely Auto

2565-898: The first step in this strategy, Geely announced to merge all the Geely Geometry dealership into Geely Galaxy dealership, further integrate its brand portfolio and sales channel. In November 2024, Geely Holding Group (Geely) announced to transfer its 11.3% stake in Zeekr Intelligent Technology (Zeekr) to Geely Automobile Holdings ( Geely Auto ). Geely Auto's shareholding ratio in Zeekr increased to 62.8%. Zeekr announced to purchase 20% stake of Lynk & Co from Geely Auto for 3.6 billion yuan and acquire Volvo Car 's 30% stake in Lynk & Co for 5.4 billion yuan. This made Zeekr hold 51% of Lynk & Co in total, while

2622-472: The founder of the Geely, released the "Taizhou Declaration", announcing that the company has entered a new stage of strategic transformation that Geely would promote the integration of internal resources, further clarify the positioning of each brand, straighten out equity relationships, reduce conflicts of interest and duplication of investment, and improve resource utilization efficiency. In October 2024, As

2679-417: The label Polestar Engineered, Polestar offers enhancements for Volvo cars which deliver upgraded performance. Examples are engine optimizations with retained warranty and unchanged fuel consumption and emissions. The engine optimization increases the power and torque output, varying depending on engine model. The response of the throttle can be modified and the character of the transmission is tweaked. In 2022,

2736-506: The largest shareholder of Malaysian carmaker Proton Holdings . The remaining 49% were acquired by Etika Automotive, a holding company of Proton's major shareholder Syed Mokhtar Albukhary . Proton had owned Lotus since 1996, and largely struggled to turn the fortunes of the sports car maker around. ZGH also purchased a 49.9% stake in Proton Holdings, which was agreed on 23 June 2017 and finalised on 29 September 2017. The purchase

2793-591: The late 2000s. In 2009, the brand became the official Volvo partner to modify existing models, under the brand Polestar Performance . Volvo eventually bought the company in July 2015 and began selling Polestar-enhanced models directly through their resellers. Polestar has also produced prototype cars, with the first being the C30 Polestar Performance Concept Prototype (2010) with over 400 bhp (300 kW) and 510 N⋅m (380 lbf⋅ft). The Volvo S60 Polestar Concept

2850-440: The manufacturer of London black cabs . Both companies started a £53 million joint venture to produce the black cabs in China, with Geely holding 52 percent and the British company 48 percent. The company has since reduced costs by producing parts in China. In February 2013, ZGH fully acquired Manganese Bronze Holdings for £11.04 million , after the British company entered administration due to lack of funding. ZGH established

2907-731: The production of electric vehicles in different segments starting in 2022. Jidu Auto is owned 55% by Baidu and 45% by Geely. Polestar Polestar is a Swedish automotive manufacturer that produces electric cars . Principally owned by Li Shufu 's PSD Investment, Geely Holding and Volvo Cars (each with ties to the Geely industrial conglomerate), the company is headquartered in Torslanda outside Gothenburg , Sweden. With an " asset -light" approach in development and manufacturing, Polestar does not have its own manufacturing facility, instead it produces cars in facilities controlled by Volvo or Geely in several countries, including China,

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2964-631: The remaining 49% of Lynk & Co shares continues to be held by Geely Auto. The electric pickup brand Radar Auto has been consolidated into Geely Auto . In 2018, Li Shufu through his investment company Tenaciou3 Prospect Investment Limited purchased a 9.7% stake in Daimler AG (now Mercedes-Benz Group ), owner of the Mercedes-Benz and Smart brands. As of 2024 , Li Shufu is the second largest Mercedes-Benz AG shareholder after BAIC Group . In January 2020, ZGH and Daimler AG announced

3021-469: The time) announced that it would attempt to reduce its ownership stake in Polestar from 48% to 18%, by transferring US$ 921 million of stock to its shareholders. This would result in PSD Investment (Geely founder Li Shufu 's personal company ) becoming the largest shareholder with at least a 39% stake. According to a Polestar news release to its investors, in April 2024, Geely Holdings became

3078-552: Was announced that the Xingma Group had agreed to transfer a 15.2% stake of its shares in the Ma'anshan -based heavy truck manufacturer Hualing Xingma to Geely New Energy Commercial Vehicle Group, a wholly owned subsidiary of ZGH. After the transaction, Geely New Energy Commercial Vehicle Group would become the de facto controlling shareholder of Hualing Xingma. In February 2020, Volvo Cars and Geely started formal discussions about

3135-411: Was owned 50% by Geely Auto, 30% by Volvo Cars, and 20% by ZGH. It currently 51% owned by Zeekr and 49% owned by Geely Auto after restructuring. Proton is a national car brand of Malaysia, established in the 1980s at the behest of the government and later reverted to private ownership under DRB-HICOM . Since 2017, the brand is owned 49.9% by ZGH and 50.1% by DRB-HICOM. Its first Geely-based vehicle, also

3192-483: Was previously known as The London Taxi Company, which has roots from Manganese Bronze Holdings , the original manufacturer of black cabs that Geely acquired in 2013. With a new factory in Ansty Park , near Coventry, it has begun production of a new generation of zero-emission -capable new taxi vehicle in late 2017. Jidu Auto ( Chinese : 集度 ) is a joint venture between ZGH and Baidu that would be engaged in

3249-557: Was seen to facilitate future export growth in right-hand drive markets, and making inroads into the lucrative ASEAN region. Proton confirmed that it would not downsize its workforce following its deal with Geely. In July 2017, the company purchased Terrafugia , an American maker of flying cars . In November 2017, ZGH announced completion of the Terrafugia acquisition, including approval from all relevant regulators. In October 2017, Volvo Cars and ZGH announced that Polestar ,

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