Geely Group to launch tech center in Hangzhou

Zhejiang Geely Holdings Group, parent of the Geely Automobile Holdings Ltd, recently announced that it plans to initially invest RMB 350 million to set up a technology center in Hangzhou, Zhejiang Province, sources reported.

The technology center, which will be located in Linjiang Industrial Park, is expected to have 2,000 employees. Geely will also build a crash test center in the park.

A senior executive from Geely said that the technology center will play an essential role in Geely's research and development system.

Last week, Geely announced that it would acquire Zhejiang Zhongyu Automobile Co, a Chinese special vehicle maker. As part of the deal, Geely will get intellectual property rights in the research and development of special vehicles and business vehicles, according to an earlier report from China Knowledge.