Geely to release 12 new car models of 3 brands

China's top private automaker Geely Automobile Holdings Ltd. (SEHK: 0175) lately kicked off the debut of 12 new car models under three subsidiary brands, such as the Geely Eagle series, Imperial (Dihao), and the TX series.

As the first Geely Eagle-branded car model, the Geely Panda hit the domestic market on November 19, 2008, with the selling price of CNY 41,800 to CNY 51,800. In 2010, the second auto model under the Geely Eagle brand is expected to be unveiled at the earliest, said the Geely Vice President Liu Jinliang.

The Hong Kong-listed automaker also attempts to launch five new car models under the Imperial brand as soon as possible. The FC-2 and FC-3, which are substituted for Geely's first commercial family car model Vision, are scheduled to come into the market in June 2009 and will be sold at between CNY 80,000 and CNY 10,000.

On October 24, 2006, Geely entered into the London TX4 joint-venture production agreement with Shanghai Maple Automobile (SMA) and Manganese Bronze Holdings PLC, the world-known manufacturer of the distinctive London black cabs.

Based of the TX4 production platform, Geely is to extend its luxury sedan industry chain in the near future, and the insiders estimate that the TX5 will likely be created as the small-sized Rolls-Royce. The two-box sedan model SL-1, with a 1.8L CVVT (continuous variable valve timing) engine, is designed to own a longer wheelbase.

In addition to the new auto models, the company intends to release a series of automatic car models, including the Geely Free Cruiser 1.3L, the Geely Gold Eagle 1.3L / 1.5L, the Geely KingKong 1.5L, the Geely Version 1.5L, and the Geely Gold Eagle 1.0L / 1.3L next year. Remarkably, the automatic DCT (Dual Clutch Transmission) developed by Geely will be installed on these new vehicles.

Headquartered in the eastern Chinese city of Hangzhou, Zhejiang Province, Geely has started its strategic transformation since 2007, waving a farewell to the low-price competition, said the chairman, Li Shufu. It has not turned out the vehicles worth around CNY 30,000 any more, and seven to eight Geely car models have been eliminated.

By now, this automaker has substituted Free Cruiser, KingKong, Vision for its three outdated car models, including Haoqing, Merrie, and Uliou. In the first half of this year, the sales volume of its three new car models accounted for 95% of the total, jumping 23.8 percentage points from a year earlier.