Geely started buying again, investing over 3 billion yuan to buy three automotive project companies in one go

On July 18, Zhejiang Jirun, a subsidiary of Geely in which Geely indirectly holds a 99% stake, entered into an acquisition agreement with Hangzhou Components for Dajiangdong, and will acquire all the equity of the target company Dajiangdong for RMB 930 million.

On the same day, Zhejiang Jirun and Guizhou New Energy signed an acquisition agreement to acquire all the equity of Guiyang Target Company for RMB 1.074 billion. Zhejiang Jirun and Zhejiang Geely signed a DMA acquisition agreement to acquire all the equity of DMA Target Company for RMB 1.169 billion.

The target company of Dajiangdong mainly engages in technology research and development, technical consulting services, manufacturing and sales of automotive parts and complete vehicle kits, and provision of after-sales services in China. At present, the target company of Dajiangdong is building a production facility with a planned production capacity of 180,000 complete vehicle kits per year, which is expected to be completed and put into production in the fourth quarter of 2018.

The Guiyang Target Company is principally engaged in the research and development, manufacturing and marketing of automotive parts and complete vehicle kits in China, as well as the provision of after-sales services. The Guiyang Property Construction Project is expected to be completed and put into commercial production in the third quarter of 2018.

DMA Target Company is mainly engaged in the research and development, manufacturing, processing and marketing of automotive parts and complete vehicle kits in China, as well as the provision of related after-sales and technical services. DMA Target Company is currently building a production facility with a planned production capacity of 240,000 complete vehicle kits per year, which is expected to be completed in the third quarter of 2018 and put into commercial production in the fourth quarter of 2018.

Geely said in the announcement that the acquisition is to further expand production capacity to meet the growing demand for automobiles in the Chinese market. Through this acquisition, Geely Group will further enhance its ability to produce mid-to-high-end electric vehicles, sedans, sports utility vehicles and multi-purpose vehicles.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.