History - Geely Philippines

Company History

Geely is the dynamic automotive brand of the Geely Automotive International Corporation (GAIC), which is a part of the Geely Holding Group, founded in 1986. Geely released its first car in 1998 and grew to be one of the leaders in the scientific and technological field. Since 2009 Geely has been on the Russian market.

Geely continues to develop its production, expand its range, and improve product quality through its acquisition of Western companies and cooperation with foreign technology innovation enterprises. The most striking examples of this cooperation are the development of premium electric vehicles and hybrids under the Smart brand in conjunction with Daimler AG, and the development of internal combustion engines with Volvo Car Group, which has been a subsidiary of Geely since 2010. Additionally, Geely acquired the Malaysian car company Proton, the British car brand Lotus, and the American personal transport brand Terrafugia.

Geely owns 15 automotive plants, as well as 8 transmission and engine manufacturing factories in China and around the world. Geely also has research centers in China, Sweden, England, and Germany, plus design bureaus in Shanghai, Gothenburg, Barcelona, California, and Coventry.

The History of the Company

2019

Geely Holding Group and Daimler AG have announced the creation of a joint venture Smart Automobile Co., Ltd. to develop a common brand of electric vehicles and premium hybrids.

2018

The head of Geely Holding Group acquired a 9.69% stake in German carmaker Daimler AG and became its main shareholder.

2017

GAIC’s flagship research and development center, Geely Research Institute formally opened in Hangzhou Bay, Ningbo. Volvo Cars and Geely Holding established a new technology joint venture called GV Automobile Technology (Ningbo) Co. Ltd to seek better technology and purchasing synergy between Volvo, GAIC, and LYNK & CO. In the first half of the year, Geely and Volvo’s combined sales exceeded the 800,000th mark, closing the deal to acquire a controlling stake in Lotus and PROTON. Geely Holding Group has bought out the American startup for the development of flying cars Terrafugia.

2016

In October, GAIC unveiled a new LYNK & CO brand in Berlin and its first model 01, the result of a collaboration between Geely and Volvo. Geely is launching the “2020” strategy, which aims to sell two million Geely vehicles a year by selling 900,000 SUVs, 850,000 cars, and 250,000 MPVs by 2020. In the future, the company is betting on the development of innovative technologies and alternative energy sources.

2015

Geely Automotive International Corp. invested 300 million to build a research center and a new LTC plant. They also started the adoption of the BLUE GEELY strategy, which aimed to produce about 40 hybrid and electric vehicle models by 2020. Thus, by the appointed date, 90% of Geely’s sales will be electric cars and cars with hybrid drive.