[Exclusive] Geely Is Set to Open New EV Battery Unit in East China’s Hefei
Yang Haiyan
DATE:  Feb 25 2021
/ SOURCE:  Yicai
[Exclusive] Geely Is Set to Open New EV Battery Unit in East China’s Hefei [Exclusive] Geely Is Set to Open New EV Battery Unit in East China’s Hefei

(Yicai Global) Feb. 25 -- Geely Holding Group is likely to open its new intelligent electric vehicle battery subsidiary in the eastern Chinese city of Hefei, Yicai Global learned today.

Geely will set up the new unit to compete in the intelligent BEV market, with its research, development and production plant probably located in Hefei’s Beicheng New District, according to a speech Chairman Li Shufu made to staff on Feb. 20.

The Zhejiang province-based auto giant will probably name the new unit Lingling Technologies, which will integrate Geely’s BEV brands, Yicai Global learned. It will be run independently from Geely’s other auto units and will have its own sales team.

Privately held Geely penned a strategic cooperation agreement with Anhui province last September, with plans to build an vehicle industrial cluster and ecosystem in the province producing lightweight, electrified, intelligent, internet-connected vehicles.

Hefei, which is about 460 kilometers northwest of Shanghai, is the capital of Anhui and is rapidly becoming one of China’s key EV manufacturing bases. EV startup Nio set up its marketing headquarters and an R&D and manufacturing center in the city early last year and secured over CNY10 billion (USD1.6 billion) in funding from the city government and other investors.

Germany’s Volkswagen Group has also invested in Hefei-based battery maker Guoxuan High-Tech and local government-backed automaker Jianghuai Automobile Group.

Editors: Tang Shihua, Tom Litting

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Keywords:   Geely,Hefei,Anhui Province,New Subsidiary,Smart Electric Vehicle Batteries