Posts Tagged: Geely

Take that, Coronavirus! Polestar begins production of its EV in China

As auto plants around the world shut down or shift to producing ventilators, Polestar, the performance EV brand owned by Volvo (which is in turned owned by Geely), announced that production of the Polestar 2 would begin this week at its plant in Luqiao, China. The company is taking stringent health precautions: at the factory,… Read more »

Mercedes-Benz and Geely register smart Automobile Co. joint venture in China

Automotive powerhouses Mercedes-Benz and Geely have formally established the global joint venture “smart Automobile Co., Ltd.” for the smart brand. Each company will contribute 2.7 billion RMB in capital. The new JV, headquartered in Hangzhou Bay, China, will design the new vehicles using the Mercedes-Benz Design network, while Geely Holding will be responsible for development… Read more »

Investors see huge potential in Kandi’s Chinese electric car-sharing service

Kandi Technologies Group (Nasdaq:KNDI), which operates a Chinese EV car-sharing service, saw its stock soar over 18% this week after announcing that it has posted a profit, and plans to expand to cities including Beijing and Shanghai. The stock has gained more than 300% in the last year. Kandi, together with its joint venture partner,… Read more »

Fisker settles with A123 and lays off employees

  The tragic milestones are passing one by one for Fisker Automotive, and we fear that the end may be near. Last week, the Wall Street Journal reported that Fisker had hired restructuring lawyers to help it prepare for a possible bankruptcy filing. Now the company has laid off most of its remaining employees –… Read more »

Geely won’t bid for Fisker

China’s Zhejiang Geely Holding Group will not bid for a majority stake in Fisker Automotive, mainly due to the automaker’s obligations to the US government, Reuters reported, citing two confidential sources. Geely, the owner of Volvo, was expected to win the deal for the maker of the Karma, but the Chinese firm doesn’t care for… Read more »