Geely unveiling its first model for Western markets

Shanghai, December 29 (Gasgoo.com) Geely, a private Chinese automaker set to buy Volvo from Ford Motor, is unveiling its first homegrown model specifically designed for Western markets, Bloomberg Markets reported in its February 2010 issue.

The gleaming-white four-door compact, which retails for $11,700 to $17,600 in China, is called the Emgrand, a name made up to conjure grandeur. The first Emgrands have left its plant in the port city of Ningbo through clouds of theatrical smoke.

Geely is the biggest maker of London's iconic black cabs. In October, Ford named Geely Holding Group, Geely Auto's parent, as the preferred bidder for Volvo. On Dec. 23, Ford said it had agreed with Geely on most terms of the sale, which would be completed by June 2010.

China, with its 1.37 billion people, has overtaken the U.S. this year to become the world's largest auto market by sales. Auto sales for the full year will soar 39% to more than 13 million vehicles. In November alone, they shot up 96%.

The latest move of Geely's going-global strategy was the high-profile bid for Volvo, the century-old Swedish luxury car brand. Geely's aim -- "let Geely cars go to the whole world" -- seemed very ambitious.