Tag: Geely

Volvo Cars appoints new members to the Board of Directors

Volvo Cars appoints new members to the Board of Directors   Volvo Cars has appointed Michael Jackson and Jim Zhang as members of its Board of Directors. Mr Jackson, based in Luxembourg, is currently a Board Member at AXA UK PLC, KNEIP Communications and Blockchain SA. He is also a partner at Mangrove Capital and… Continue reading Volvo Cars appoints new members to the Board of Directors

Toyota to target tripling China production over next decade

Toyota Motor Corp. is aiming to triple car production in China by as soon as 2030 in a renewed push to make up lost ground in the world’s biggest market, according to people familiar with the plan. Asia’s largest automaker is targeting to manufacture 3.5 million vehicles annually in China around that year while boosting… Continue reading Toyota to target tripling China production over next decade

Peugeot halts 308 output at Sochaux plant after gearbox problem

{{if trimcom}}{{:trimcom}}{{else}}{{:comment.substr(0,500)}}{{/if}} {{if comment.length > 500}} … Read More {{/if}} China’s Geely building new plant to make 250,000 bigger-sized cars – sources Aston Martin plans to go public as turnaround picks up speed Electric car makers moving into Tesla’s turf with new models Go to Source

China’s Geely building new plant to make 250,000 bigger-sized cars: sources

BEIJING (Reuters) – China’s Geely is building a new plant to produce a quarter of a million bigger-sized cars that will help meet a goal of selling more than 2 million vehicles by 2020 and power its growth, two people familiar with the matter said. FILE PHOTO: A building of the Geely Auto Research Institute… Continue reading China’s Geely building new plant to make 250,000 bigger-sized cars: sources

VW Group hit hard by new emissions test

To gauge the impact of WLTP, an Autocar survey of car firms revealed that, while most were expecting no issues or delays due to WLTP, several have been forced to suspend production or axe models to meet the new rules. Volkswagen Group brands have been particularly affected by the change in tests. Audi, Seat, Skoda… Continue reading VW Group hit hard by new emissions test

‘We don’t like the trade war,’ says one of China’s biggest carmakers

China is a big market for MPVs: Geely Automobile
11:07 PM ET Wed, 22 Aug 2018 | 02:03

Geely Automobile, the third-largest carmaker in China, has been largely shielded from the ongoing trade tensions between Beijing and Washington. But the company could still be hit in other ways if the dispute drags on, a top executive said.

Geely doesn't rely on imported parts to make its cars, not does it sell many of its products outside China, which helps the automaker avoid direct hits from the trade dispute, according to Daniel Li, Geely's vice chairman and chief financial officer.

“Geely doesn't have a lot of sales to other countries yet … we don't have any cars sold to the U.S.,” Li told CNBC's “Squawk Box” on Thursday. “Nevertheless, we don't like the trade war,” he added.

Li explained that the dispute between the world's two largest economies has generated a lot of uncertainty and is starting to affect consumers' willingness to spend.

His comments come a day after the company announced a 54 percent year-over-year jump in net profit for the first half of 2018. The net profit of 6.67 billion yuan ($971.3 million) is higher than the 6.55 billion yuan estimated by four analysts, according to Thomson Reuters data.

The company sold 766,630 vehicles during the first six months of the year, 44 percent higher than the same period in 2017 and outperforming the overall automobile sales in China, Li said.

Li said the company is on track to meet its full year sales target of 1.58 million units, and has plans to launch five new models later this year, including a multi-purpose vehicle (MPV).

“As you know, China has a new birth policy to encourage every family to have a second child instead of only one child,” Li said, explaining that families would soon require more seats in a car to accommodate grandparents, parents and two children. That opens up the opportunity to sell more MPVs, which typically have seven seats, Li said.

Despite the strong earnings report, Geely shares in Hong Kong were down about 1.3 percent on Thursday morning. But some analysts remain upbeat about the company's prospects.

“The outlook for Geely remains strong, in our view, led by a strong product pipeline … Geely is still our top sector pick,” analysts from Daiwa Capital Markets wrote in a Wednesday report after the company released its earnings report.

— Reuters contributed to this report.

THE SEARCH FOR SPEED ACCURACY AND PROFICIENCY

Subang Jaya, 21 August 2018 – The PROTON After Sales Service Competition 2018 (“the Competition”) is providing a networking platform for all after sales personnel around the country to exchange ideas and knowledge relating to their area of expertise.
“We want to provide a platform for our people to gather under one roof so they can get to know new friends from other outlets and share their knowledge. We believe that a comprehensive network amongst peers helps to enhance the technical know-how and problem-solving skills of any worker”, said Encik Azharuddin Abdullah, Director of After Sales Management PROTON.
“Our technicians and mechanics have an opportunity to showcase their skills and quality of work in handling customers’ cars. They may come from different regions to compete against one another, however, we also hope the competition brings them together to form their own peer support group.”

Reaching out to customers to enhance customer experience
Pre-qualifying rounds for the Comp..

PROTON AFTER SALES SERVICE COMPETITION REWARDING SKILLED TALENTS

Kota Kinabalu, 15 August 2018 – PROTON After Sales Service Competition 2018 (“the Competition”) is a platform for all after sales personnel around the country to showcase their ability and quality of work in handling customers’ cars. As part of PROTON’s talent management and development initiatives, winners will be rewarded with cash prizes and incentive trip to Shanghai, China worth RM50, 000.
For pre-qualifying round in East Malaysia, participants from PROTON dealers and branches in Sabah and Sarawak were tested to prove their skills, speed and accuracy in their area of expertise.
Sharpening Skills for First Proton SUV and Future Models

“Throughout the Competition, our technicians will compete against each other, helping them to sharpen their skills. Ultimately, this assists to build the quality of our after sales services and take it to a higher level to be on par with global standards. We believe our after sales service personnel are ready to receive the coming of the first Proton..

From a valuation of $1.8 to $30 billion in just eight years – Volvo Cars’ IPO plan looks like a spectacular success story …

The IPO plans for Volvo Cars are moving ahead as the valuation indicated by investors reaches Zhejiang Geely’s target level, according to the Financial Times. In July, Bloomberg reported that Geely was planning a stock-market listing of Volvo Cars as early as fall 2018, but initial feedback from institutional investors fell short of the Chinese… Continue reading From a valuation of $1.8 to $30 billion in just eight years – Volvo Cars’ IPO plan looks like a spectacular success story …