Latest news with #ZhejiangGeelyHoldingGroupCo.
Bloomberg
19-04-2025
- Automotive
- Bloomberg
Geely and Renault Are Working on a Way to Turn EVs Into Hybrids
The powertrain venture majority-owned by China's Zhejiang Geely Holding Group Co. and French manufacturer Renault SA will show up to next week's Shanghai auto show with a concept aimed at car buyers still reluctant to go fully electric. Horse Powertrain will tout what it's calling Future Hybrid Concept — an engine, electric motor and transmission bundled together in a package compact enough to replace the drive unit of a battery-electric vehicle. The joint venture between Geely, Renault and Saudi Aramco will offer the product to carmakers as a way to hybridize their EVs without having to develop new platforms or production lines.
Bloomberg
05-03-2025
- Business
- Bloomberg
Geely Signs €2.4 Billion Loan to Refinance Volvo Truck Deal
Chinese billionaire Li Shufu's Zhejiang Geely Holding Group Co. has obtained a syndicated loan to refinance borrowings related to its 2018 acquisition of a stake in Volvo AB, according to people familiar with the matter. The €2.4 billion ($2.5 billion) three-year facility was signed on Feb. 25, the people said, who asked not to be identified discussing private matters. BNP Paribas SA, HSBC Holding Plc and Standard Chartered Plc were among the mandated lead arrangers and bookrunners of the deal, which drew over 20 lenders when it was syndicated to the broader market, the people added.
Bloomberg
17-02-2025
- Automotive
- Bloomberg
Renault, Geely Deepen Partnership With Brazil Car Sales Plan
Renault SA and China's Zhejiang Geely Holding Group Co. plan to jointly produce and sell electric and low-emissions vehicles in Brazil as the automakers deepen their partnership. Geely will invest in Renault's Brazilian unit and in return get access to its production, sales and services network in the country, the French company said Monday.
Bloomberg
28-01-2025
- Automotive
- Bloomberg
Does Volvo's Chinese Ownership Threaten US National Security?
Is Volvo Car AB a threat to US national security? Washington appears to think it might be, and the consequences could be profound for Chinese majority-owner Zhejiang Geely Holding Group Co., as well as car buyers everywhere. A brand renowned for safety (and lauded by US conservatives for its family values), could in theory be prohibited from selling cars stateside from 2027 due to new regulations designed to block China from spying on US citizens or carrying out a cyberattack. Modern cars are highly sophisticated computers on wheels, creating vulnerabilities that hackers can exploit.
