Industryweek 3778 Geely

Geely to Launch Research Center in Sweden

Feb. 21, 2013
"Our group has ambitious goals to increase the competitiveness of our brands," Geely chairman Li Shufu said. "Geely will continue to improve its product quality in the years to come and can learn from Volvo Cars.”

SHANGHAI — Geely, owner of Volvo Cars, said it would set up a research and development center in the Scandinavian country to capitalize on advanced European technology.

The center, to be located in Gothenburg where Volvo is headquartered, will start operations by the end of this year to design parts for the next generation of small family cars for both firms, Geely said in a statement Wednesday.

"Our group has ambitious goals to increase the competitiveness of our brands," Geely chairman Li Shufu said. "Geely will continue to improve its product quality in the years to come and can learn from Volvo Cars.”

Li offered assurances the center would not jeopardize Volvo's "brand integrity" and product development. Geely bought the firm from Ford in 2010.

Both companies have started recruitment of about 200 engineers from China and Sweden to staff the center, the statement said.

Geely, one of China's largest private automakers, said earlier this month it had acquired the maker of London's black taxis for 11 million pounds (US $17 million) after Manganese Bronze Holdings collapsed into administration — an alternative to liquidation.

Geely recorded 15% annual growth in domestic sales to 483,000 vehicles in 2012 and has targeted 16% growth this year to 560,000 vehicles.

Copyright Agence France-Presse, 2013

Popular Sponsored Recommendations

Global Supply Chain Readiness Report: The Pandemic and Beyond

Sept. 23, 2022
Jabil and IndustryWeek look into how manufacturers are responding to supply chain woes.

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!