Geely to acquire special vehicle maker Zhongyu Auto

Geely Holding Group, the potential buyer of Volvo, will sign an agreement with Zhejiang Zhongyu Automobile Co., Ltd. in Hanghzou, east China this week, and march into the domestic special vehicle market after the overall acquisition of the latter.

Geely will obtain the intellectual property rights in the R&D of special vehicles and business vehicles as well as the sales network from the target company.

The acquisition will give a leg up to the buyer on its way towards a high-end image. Zhongyu Automobile has extended its sales and after-sales service network to east, south, north, central, and northeast China.

Moreover, the target company, engaged in the R&D, production, and marketing of vehicles, has gained a footing in diversified markets with its quality products.

Now, it has owned several top-ranking business vehicles, such as those refitted models based on the Benz Vito, the Benz Sprinter, and the Benz James Cook.