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Geely | Plans to double the number of automotive projects managed by the European R&D center next year
Reuters reports that Geely Automobile (00175) is intensifying its efforts to compete in Europe, with plans to double the number of car projects managed by its European R&D center by next year.
Geely Automobile stated that the European R&D center will provide engineering support for its three major brands: Zeekr, Lynk & Co, and Geely, reducing the interval between new car launches in China and overseas markets to within six months.
Geely Automobile has had R&D facilities in Europe since 2013, with its Gothenburg center previously operating under names such as the China Euro Vehicle Technology (CEVT) and the Zeekr Technology R&D Center. Additionally, there is a smaller branch in Frankfurt, all of which will now fall under the “Geely European R&D Center.”
Geely Holding Group indicated in January that it plans to rank among the top five automotive manufacturers globally by 2030, achieving global sales of over 6.5 million vehicles, with one-third coming from overseas markets, and Europe being an important component of those overseas markets.
Earlier reports indicated that Geely has been in discussions with automotive manufacturers such as Mercedes-Benz and Ford regarding potential manufacturing and technology collaborations.