Geely plans to build Taiwan JV with Yulon Motor

Zhejiang Geely Holding Group plans to set up an arm in Taiwan in cooperation with the leading local automaker Yulon Motor Co., Ltd., according to the mainland China-based car manufacturer.

The joint venture will mainly sell Gelly Panda-branded mini cars in Taiwan after assembling components and parts together, according to Geely Holding Vice President Wang Ziliang, believing that cars at Geely Panda's prices are still in demand there.

Mr. Wang estimated his company's auto sales to jump 25% year on year in the second half of 2009. Besides, Geely Holding lately donated CNY 1 million to those Taiwan people afflicted by the typhoon Morack.

Upon Earlier reports, Geely Holding is one of the bidders for the Volvo car business division of Ford Motor Company. It is said to purchase a land lot in Beijing, Guangdong, or Shanxi as the location of a China-based Volvo car production base.