[ET Net News Agency, 29 April 2019] Geely Automobile Holdings Limited (00175) said its
subsidiary Zhejiang Geely Powertrain Company Limited has agreed to acquire the entire
registered capital of Yiwu Geely Powertrain Company Limited (the target) from Yiwu Geely
Engines Company Limited at a cash consideration of RMB322.21 million.
The target is principally engaged in the technology research and development, technology
consultancy services, manufacture and sale of vehicle engines and provision of after-sales
services in the PRC. It currently has a production facility under construction with a
planned production capacity of 720,000 units of engines per annum upon full scale of
operation.
Upon completion of the acquisition, the vehicle engines to be manufactured by the target
will be used in the group's top-end vehicle models and will also be sold to the Geely
Holding Group for use in the Volvo-branded vehicles and to the LYNK & CO Group for use in
the LYNK & CO-branded vehicles. (RC)
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00175 GEELY AUTO
Nominal 
9.920 -0.100 (-0.998%) Others
29/04/2019 17:17
Geely Auto (00175) to buy engine company at RMB322.21m
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