Geely to export Chinese-made vehicles, parts to U.K.
Zhejiang Geely Holding Group Co. plans to export its passenger vehicles and parts produced in China to the United Kingdom with the support of London-based taxi maker Manganese Bronze Holdings PLC.
Under the agreement Geely has signed with Manganese Bronze, the two sides will develop a business plan within a year on the distribution and after-sales service provision for Geely's vehicles and parts in the U.K., said Geely Automobile Holdings Limited, Geely's Hong Kong-listed subsidiary, in a statement.
If the business plan is finalized, Manganese Bronze will act as the distributor of Geely's vehicles and parts in the U.K., according to the statement.
Geely holds a 20 percent stake in Manganese Bronze. The two companies also have a joint venture in Shanghai producing Manganese Bronze's TX4 taxi for the Chinese market.
The U.K. could prove to be an interesting test market for Chinese automakers. In April, SAIC Motor Corp. introduced the MG6 in that market.
In 2005, SAIC bought MG Rover's assets and 2008 began small-scale assembly of limited-edition MG TFs from Chinese-made kits at its Longbridge, U.K. assembly plant.
Headquartered in the east China city of Hangzhou, Geely sold 235,209 vehicles in the first seven months of the year, up 8 percent year-on-year. In 2010, Geely completed the purchase of Volvo Car Co. brand from Ford Motor Co.
