Geely looks for a foreign partner

Posted on Sunday, 28 October 2007 , 14:10:40 byEmil

Filed under geelychinaforeignpartnerlishufudetroitNone

Geely looks for a foreign partner

Geely Automobile Holdings Ltd. — a Chinese automaker — has announced that it is looking to partner with a foreign car and parts maker, including Japanese ones. Geely is looking to expand in order to take advantage of growth opportunity outside of its domestic market.

`We started off building and selling cheap cars, but now we are changing` said Li Shufu Geely`s chairman. `We are very, very eager to form alliances`.

Automotive News says Geely is one of a few Chinese privately run carmakers, planning to double the capacity by 2008. Geely also plans to make production facilities in Europe and North America to expand beyond the home market. `We have great respect for Japanese automakers and want to cooperate with them` said Li. For Geely a partnership with manufacturers from other countries it`s still an option. Geely will attend the Detroit Auto Show in January as one of five Chinese carmaker there.