Geely Automobile Holdings Ltd $ 2.26 0.13 (6.1%)
GELYF News and Headlines - Geely Automobile Holdings
In pursuit of its goal to produce fully electric vehicles, Swedish luxury carmaker Volvo Cars, which is owned by China’s Geely Automobile Holdings Ltd. (HKSE:00175)(GELYF), announced on Wednesday it has invested in FreeWire Technologies Inc.
The investment was made via the recently formed Volvo Cars Tech Fund.
By investing in the San Francisco-based company, which manufactures mobile and stationary electric vehicle charging solutions, Volvo said it is supporting its commitment to a “widespread transition to electric mobility.”
“To support wider consumer adoption of electric cars, society needs to make charging an electric car as simple as filling up your
2018 should not be a year of major upheaval for U.S. car manufacturers. In fact, industry watchers are predicting another strong year in what is being characterized as the quiet before the storm.
Hold on to your seat as the year winds down, however. Forecasters say chaos likely will take over the industry in 2019 and 2020 as a result of a series of market forces and technological advancements.
"This year, I don’t foresee any sort of crash,’’ George Peterson, president of AutoPacific, an automotive research and product planning firm, tells GuruFocus. “But the next five years are going to
According to a March 22 press release, Geely reported 78% sales growth to 53.7 billion Chinese renminbi ($7.784 billion) and an astounding 126% profit growth to 4.9 billion renminbi – a 9.5% profit margin for fiscal 2016 compared to 7.5% in 2015.
In review, Geely sold a total of 765,970 units of vehicles in 2016, up 50.2% from 2015. Domestic sales grew 53.6% to 744,191 units from 2015 while abroad sales fell by 15.4%
|2020-05-06 $ 1.61 (3.21%)|
|2020-03-25 $ 1.5 (14.5%)|