Zhejiang Geely Holding Group Co. says that it has no immediate plans to export its own brand cars to developed markets. Speaking at the 2010 Beijing Motor Show, Frank Zhao, the company’s vice president for technology, said that the company will remain focused on the domestic market and other development markets.
“Regarding (selling to) developed markets, I think that will be something a couple of years down the road,” Zhao said. However, he said that Geely is studying developed markets.
“We are watching those markets on technology progress and also legal requirements very carefully, but we don’t have any closer structured plan,” Zhao said.
Geely purchased Volvo from Ford for a total of $1.8 billion for Volvo and its related assets. Speaking on the acquisition, Zhao said that Geely and Volvo operations will be kept separate.
“Our chairman Li Shufu has made it very clear that Geely is Geely and Volvo is Volvo. That means a lot because we have totally different customer segments and different markets,” he said.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)