Geely’s commercial vehicle subsidiary works with Haiqi Group on low-carbon transportation

Shanghai (Gasgoo)- Geely New Energy Commercial Vehicle Group ("GCV"), the commercial vehicle manufacturer wholly-owned by Zhejiang Geely Holding Group, signed a framework agreement with Hainan Haiqi Transportation Group Co., Ltd. ("Haiqi Group") to carry out strategic cooperation in such fields as the urban-rural bus integration and low-carbon transportation. 

“GCV will actively participate in the construction of clean energy island for Hainan province, and cooperate with Haiqi Group in green economy areas related to carbon peak and neutrality to jointly boost the building of Hainan Free Trade Port,” said Fan Xianjun, CEO of GCV.

Photo credit: Haiqi Group

Under the agreement, Haiqi Group will team up with Hainan Farizon New Energy Commercial Vehicle Co., Ltd., a majority-owned subsidiary of GCV, in the provincewide urban-rural bus integration, the roundabout highway recreational vehicle, and automobile sale.

As a local provider of road transportation services for Hainan Free Trade Port, Haiqi Group engages in the provision of road transportation services that includes regular passenger transportation, tourist passenger transportation, taxicab passenger transportation, passenger station management, as well as vehicle maintenance and testing.  

In the first three quarters of 2022, Haiqi Group saw its total revenue slide 14.43% year on year to around 490.437 million yuan ($68.77 million), resulting in a net loss attributable to shareholders of roughly 98.018 million yuan ($13.744 million), according to its financial results posted on Shanghai Stock Exchange.