Geely Hangzhou Bay program starts construction with investment of RMB 31.5 billion

Shanghai (Gasgoo)- Geely Auto's Ningbo Hangzhou Bay program officially started construction on March 12, according to local media. This program, involving a total investment up to RMB31.5 billion, includes the second and third phases of Geely Auto's R&D center in Hangzhou Bay, the PMA pure electric vehicle project and Geely Corporate University project.

With an investment sum of RMB 7 billion, the second and third phases of Geely Auto's Hangzhou Bay R&D center will build the world-leading crash test laboratory, environmental wind tunnel laboratory as well as new energy power center, etc. Besides, it plans to recruit around 500 R&D talents.

Geely Auto's PMA pure electric vehicle project, which will be invested RMB 14.5 billion in total, is expected to achieve an annual production capacity of 300 thousand vehicles and create an annual production value of RMB 60 billion.

In additon, the Geely Corporate University project, involving a total investment of RMB 8 billion to 10 billion, will construct the brand exhibition hall, culture & communication center, administration center, experimental manufacturing workshop, circuit and other supporting facilities.

Additionally, Geely Auto's new energy vehicle battery pack project, which is expected to be completed in December this year, is designed to produce 500 thousand sets of battery packs, covering battery, electric control and electric motor. Besides, Geely Auto's DMA plant had started construction in April, 2016 and is planned to be finished in August this year. The new plant, covering an area of 340 thousand square meters, will manufacture the models co-developed by Geely and Volvo, possessing an annual production capacity of 300 thousand units of large-sized SUVs and new energy sedans.

The first phase of Geely Auto's R&D center in Hangzhou Bay, which was officially put into operation in May, 2017, is the headquarters of Geely's research institute that works on R&D of Geely Auto's products and technology breakthroughs. So far, the automaker has built its global R&D system, including four R&D centers in Hangzhou, Ningbo, Goteborg and Coventry and four design centers in Shanghai, Goteborg, Barcelona and California.