Latest news with #Coolray
Yahoo
26-03-2025
- Automotive
- Yahoo
Geely Auto enters Vietnamese market with Coolray SUV launch
Geely Auto has entered the Vietnamese automotive market with the introduction of Coolray SUV as its first model. The move is part of the company's broader expansion into Southeast Asia. In a press release, Geely said it is implementing a "multi-energy" product strategy in Vietnam's automotive sector. The Coolray, their first model in this initiative, has surpassed one million units in sales. Geely Automobile International (GAIC) vice president Evin Ye said: "Our expansion into Vietnam represents a strategic cornerstone of Geely's global vision. We're introducing a diverse product portfolio while building robust local operations to deliver mobility solutions that truly address the unique needs of Vietnamese customers. 'Through local manufacturing investment and supply chain collaboration, we aim to contribute to Vietnam's automotive sector, fostering mutual growth and prosperity." In the second quarter, Geely plans to expand its Vietnamese portfolio with the luxury SUV Monjaro and the next-generation pure electric SUV, the Geely EX5. The Monjaro represents the brand's luxury offerings, while the EX5 will be Geely's first electric vehicle in the country. Over the next three years, nine models will be introduced to the Vietnamese market that will encompass traditional internal combustion engines (ICE), plug-in hybrid electric vehicles (PHEV), and battery electric vehicles (BEV). The lineup will include both five-seat and seven-seat models, designed to meet local market needs. In a move to bolster local manufacturing, Geely Auto Group has formed a strategic alliance with Vietnam's Tasco Group to develop an automotive assembly facility in Thai Binh Province. The $168m investment will cover 30ha, with construction set to begin this year and production expected by late 2026. The plant will have an initial annual output of 75,000 vehicles and will be capable of producing multiple models, starting with Geely and Lynk & Co vehicles, and potentially expanding to additional brands in the future. Also in January, Geely Auto Group entered the Indonesian market with the pre-sale of its electric SUV, the Geely EX5. The EX5 includes a short blade battery, Global Intelligent Electric Architecture (GEA), CTB technology, and an 11-in-1 intelligent electric drive. "Geely Auto enters Vietnamese market with Coolray SUV launch" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Watani
06-02-2025
- Automotive
- Watani
Egypt Geely's first plant in Africa, MENA delivers in February
The Chinese Geely Auto Group, in collaboration with Auto Mobility (Geely Egypt), has inaugurated a new factory located in the 6th of October City industrial zone to produce Geely cars. This is the company's first industrial venture in Egypt, Africa, and the Middle East. Egypt's Prime Minister Mustafa Madbouly attended the inauguration ceremony together with Industry and Transport Minister Kamel al-Wazir; Planning and International Cooperation Minister Rania al-Mashat; and a number of other cabinet ministers, governors, and senior officials. Present were Ali al-Ghanim, founder of al-Ghanim Sons Automotive Group; and Song Jin, Chairperson of Geely Global Automobile and Vice Chairperson of Geely Auto Holding; also numerous figures from the investment and automotive industry fields. The PM said that the new factory aligns with Egypt's strategic goal of becoming a regional hub for the automotive industry. The new factory, he said, is part of the National strategy launched in 2022 for localising the automotive industry. The Geely factory features two production lines for with a total capacity of up to 10,000 vehicles annually. It is expected to meet domestic demand and export some 30,000 vehicles. Mr Jin announced that the factory will be producing the Emgrand 2025 sedan model and the Coolray 2025 SUV. He said that the first batch of Emgrand and Coolray vehicles will be produced in Egypt based on the BMA (B-segment Modular Architecture) platform developed by Geely. Both models, Mr Jin said, offer efficient use of space and positive and negative safety designs, ensuring an excellent driving experience for Egyptian consumers. The Coolray model, he said, whose sales exceeded one million units globally, will be assembled locally in Egypt. Mr Jin explained that the factory is part of Geely's efforts to enhance local production of its vehicles in line with the Egyptian government's strategy to localise the automotive industry. The factory, he asserted, boosts the national economy and creates new job opportunities. 'Our current investments in the automotive sector stand at approximately USD250 million,' he said, stressing that Geely continues to expand its local operations and network in the Egyptian market. He explained that Geely has established over 40 sales and service centres across Egypt in just a few years, offering a wide range of vehicles, from A-class sedans to D-class SUVs. Mr Jin highlighted that Geely had developed 14 major components locally, with a local content rate exceeding 45 per cent, stressing that the company intends to produce more components locally in future. Furthermore, Jim explained that this plant is particularly significant for Geely and the Egyptian automotive industry as it is Geely's first CKD (Completely Knocked Down) factory in Africa and the Middle East. For his part, Fahad Ali al-Ghanim, Chairperson of Auto Mobility, said, 'We have invested up to USD100 million in the manufacturing and assembly of Geely vehicles in Egypt through Auto Mobility.' He noted that recent enhancements in Egypt's business environment have encouraged both Arab and Chinese investors to make new investments and expand current ones. Auto Mobility declared that the first models produced will be delivered to customers in February 2025. Geely Auto Group, headquartered in Hangzhou, China, is a prominent automobile manufacturer founded in 1997 as a subsidiary of Zhejiang Geely Holding Group. The group oversees several well-known brands, including Geely Auto, Lynk & Co, Proton Cars, and Geometry. Watani International 6 February 2025 Comments comments Tags: Geely plant in EgyptLillian Nabil
