China's Geely to invest $30M in Indonesia market

Shanghai, June 26 (Gasgoo.com) Chinese automaker Geely Holdings Group said it will invest some US$30 million to set up distribution and marketing networks for selling its cars in the Indonesian market, the Antara news agency reported today.

Through its Indonesian units PT Geely Mobil Indonesia, Geely Holdings hopes to gain a substantial share of car market in the country.

Richard Yang, a director of Geely Holdings said that Indonesia is a potential market and would be its starting base to enter markets in the Southeast Asia region.

He said this year Geely will assemble 400 units of cars at PT Gaya Motor and 125 of the units will be exported back to China, with the rest to be sold in the Indonesian market.