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55-455: 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

110-558: 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

165-462: 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

220-614: 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 ,

275-407: 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

330-608: 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

385-482: A light sport aircraft, the pilot will be required to hold a Sport Pilot or higher certificate, which requires a minimum of 20 hours of dual instruction to obtain, as well as passing an FAA oral and practical examination. Owners will be able to drive amidst normal street traffic from their garage to an airport where the wings can be deployed for take-off and flight within a range of 460 miles (740 km; 400 nmi). It will carry two people plus luggage and will operate on

440-677: 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

495-556: 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

550-735: 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 ,

605-555: 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,

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660-510: A single tank of premium unleaded gas. The design of the production version was made public at AirVenture Oshkosh on 26 July 2010 and no longer included a front canard. The Transition Proof-of-Concept's maiden flight on 5 March 2009 lasted 37 seconds and covered 3,000 feet (910 m) of the runway at the Plattsburgh International Airport . The test pilot then conducted 6 additional takeoffs and landings. In June 2010,

715-692: 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 )

770-461: 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 ,

825-694: 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

880-501: 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

935-567: 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

990-473: 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

1045-514: 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 ,

1100-662: 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

1155-512: 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

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1210-574: 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,

1265-910: The FAA granted Terrafugia an exemption for the Transition's extra takeoff weight. The added weight accommodates the Transition's road safety features, which is needed to comply with Federal Motor Vehicle Safety Standards. On June 29, 2011, the National Highway Traffic Safety Administration also granted exemptions allowing the Transition to use a polycarbonate windshield, to use tires suited for highway and aircraft use but not typically certified for multi-purpose vehicle use, to not include an electronic stability control system that could inadvertently cut engine power during flight, and finally, to use regular instead of advanced airbag deployment. After undergoing drive tests and high-speed taxi tests,

1320-606: 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 ),

1375-403: 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

1430-530: 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

1485-528: 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.,

1540-460: 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

1595-723: 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 ,

1650-524: The company had received fewer than 35 aircraft reservations, but by September 2009, they had doubled that to 70; as of December 2011 , 100 reservations were on deposit representing potential revenues above US$ 25 million. In July 2017 the company was purchased by the Zhejiang Geely Holding Group , a Chinese corporate conglomerate that also owns the Volvo and Lotus Cars automobile companies, with

1705-422: The company had reportedly laid off 80-100 of its employees, a majority of the people who worked there. The company planned shutdown its US operations and re-establish in China. Terrafugia originally expected initial deliveries of the Transition light sport aircraft in 2015 or 2016. The estimated purchase price was originally announced as US$ 194,000 and was increased to US$ 279,000 as of December 2011 . As

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1760-582: 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

1815-489: 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

1870-610: 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

1925-591: 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,

1980-403: 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

2035-532: 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

2090-598: 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

2145-871: 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

2200-468: 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

2255-499: 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

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2310-440: 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

2365-618: The production of electric vehicles in different segments starting in 2022. Jidu Auto is owned 55% by Baidu and 45% by Geely. Terrafugia Terrafugia ( / ˌ t ɛr ə ˈ f uː dʒ i ə / ) is a Chinese-owned corporation, based in Woburn, Massachusetts , United States that is developing a roadable aircraft called the Transition and a flying car called the TF-X . The Transition and TF-X are designed to be able to fold their wings, enabling

2420-422: The production prototype completed its first flight on March 23, 2012 at Plattsburgh, New York . The production prototype then made its auto show debut at the 2012 New York International Auto Show in April, 2012. In June, 2012, Terrafugia announced that the Transition had completed the first of six phases of flight testing. By July, the second phase of testing was underway, expanding the performance envelope in

2475-438: The purchase finalized in November 2017. The company started 2017 with 20 employees and hired 75 more people during the year. It planned to hire an additional 50 people by December 2018. During that period the company increased the staffing levels at its Woburn, Massachusetts, headquarters, expanding the work force in engineering, accounting, human resources, marketing and also operations. A new research and development division

2530-618: 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

2585-603: The sky and continuing drive testing on the ground. The company's next-generation concept, the TF-2, is an aircraft that would have carried both cargo and passenger loads. Transformer (TX) was a DARPA US$ 65m, five year, three phase program intended to develop a 'flying Humvee '. A Phase 1 proposal from AAI Corporation was awarded a US$ 3m contract in September, 2010 and incorporates deployable surfaces technology from subcontractor Terrafugia. On May 7, 2013, Terrafugia announced

2640-435: The vehicles to also operate as street-legal road vehicles. In January 2021, Terrafugia announced that the Transition received a Special Light-Sport Aircraft (LSA) airworthiness certificate from the FAA for the Transition to be flown only, with road use approval to follow in 2022. In February 2021 the company had laid off the majority of its employees, planned to close its US operations and re-establish in China. Terrafugia

2695-500: Was also established in Petaluma, California , intended to undertake all future engineering tasks. In September, 2018, Terrafugia replaced Carl Dietrich as CEO with Chris Jaran. Dietrich remained in the CTO position. In April 2019, the company replaced CEO Chris Jaran with Chao Jing. Huaibing Wang became CFO. Dietrich announced his departure from Terrafugia at the same time. In February 2021

2750-543: 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

2805-928: Was founded by graduates of the Department of Aeronautics and Astronautics at the Massachusetts Institute of Technology and graduates of the MIT Sloan School of Management . Their team and business plan was the runner-up for the 2006 MIT $ 100K Entrepreneurship Competition . Terrafugia was then incorporated May 1, 2006, with much of the initial funding coming from CEO and founder Carl Dietrich's US$ 30,000 Lemelson-MIT Student Prize . The first round of convertible note financing began at EAA AirVenture Oshkosh 2006 and closed December 21, 2006, raising US$ 258,215. Five additional rounds of convertible note financing followed. The first round of equity financing closed in 2008 and raised US$ 1,531,323. Another round of equity financing

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2860-492: Was initially planned for 2009; the second and third rounds of equity financing raised US$ 2,037,680 in May, 2010 and US$ 960,418 in Dec, 2010. Another equity offering of US$ 3.5 million was reported in May, 2012 of which $ 1,020,369 had been sold. In October 2008, Terrafugia reported seeking reservations for airframe number 57 representing an order book of more than US$ 8 million. In March 2009,

2915-411: 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

2970-477: 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

3025-551: 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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