Geely obtains governmental approval to build PV base in Wuhan

Shanghai (Gasgoo)- Zhejiang Geely Automobile Company Limited (Zhejiang Geely) has obtained a governmental approval to build a passenger vehicle (PV) manufacturing base with an annual capacity of 150,000 vehicles in Wuhan, the capital of Hubei Province, according to an announcement issued by Hubei Provincial Development and Reform Commission in recent days.

With a registered capital of RMB2.859 billion, the new program has four investors in total. Zhejiang Geely Holding Group makes a contribution valued at RMB2.031 billion, accounting for 71.06% of overall registered capital. Its legal representative is An Conghui, President of Zhejiang Geely Holding Group and President and CEO of Geely Auto Group.

The PV making program, involving a total investment of RMB9.044 billion, which is planned to be initiated in early 2019 and to be completed at the end of 2021. It is designed to build a mixed-model assembly line featuring an annual capacity of 150,000 PVs, covering traditional fuel-burning models, all-electric models and hybrid models.

Apart from the production base, Geely registered two new companies in Hubei Province in September, namely, Hubei Geely Terrafugia Co.,Ltd and Wuhan Geely Automotive Research & Development Co.,Ltd. The former’s scope of business extends to cover ICV technologies, new energy technologies, the R&D, production and marketing of NEVs, flying cars, aircrafts and related components, while the latter focuses on the R&D and marketing of vehicles and automotive parts.