Geely to Transform Central China SOE’s Plant Into NEV Base, Operate It
Tang Shihua
DATE:  Apr 28 2020
/ SOURCE:  Yicai
Geely to Transform Central China SOE’s Plant Into NEV Base, Operate It Geely to Transform Central China SOE’s Plant Into NEV Base, Operate It

(Yicai Global) April 28 -- A state-owned auto maker in central China's Hunan province will entrust its vehicle plant to Zhejiang Geely Holding Group, and Geely will transform the plant into a new energy vehicle production and sales base.

Changfeng Group will consign its subsidiary Leopaard Motors’ factory in the provincial capital of Changsha to Geely, which will bring NEVs and technology to the plant, Geely announced, The Paper reported yesterday, but omitted further details.

Changfeng is a carmaker with a more than 50-year history and its major products are Leopaard light-duty sport utility vehicles. It has three other plants in China. Leopaard ran into business difficulties because of market changes in 2018. A rumor in October claimed it was teetering on the brink of bankruptcy, but the firm refuted this charge.

Geely is a well-known Chinese private automaker, and its best-known overseas asset is Volvo Cars. It is actively developing new NEVs and has a large factory in Xiangtan near Changsha which produces gas-electric hybrid new energy SUVs.

Editor: Ben Armour

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Keywords:   Trusteeship,New Energy Vehicle,Leopaard Motor,Geely Motor,Hunan