Geely, Yulon Jointly Produce Electric Cars

Posted on: Fri, 06 Nov 2009 06:30:00 EST

Symbols: GELYY

HONG KONG, Nov 06, 2009 (SinoCast Daily Business Beat via COMTEX) --
GELYY | Quote | Chart | News | PowerRating -- Geely Automobile Holdings Ltd. (SEHK: 0175) will extend its cooperation with Yulon Group to the electric vehicle field. Both sides will ink an agreement during the visit of Geely Board Chairman Li Shufu to Taiwan in late November 2009.

Yulon's subsidiary Hua-chuang Automobile Information Technical Center Co. Ltd. (HAITEC) has developed electric vehicles based on Geely's car model Panda, which will be sold to Mainland China as earliest as next year.

Previously, Yulon remodeled Panda into Tobe-branded mini cars, which will hit the Taiwan market at the end of 2009. The company has established a subsidiary especially responsible for the sales of Tobe.

As to the selling price of Tobe, Yulon Motor General Manager Chen Guorong discloses that it will not be less than TWD 350,000 and might finally approach TWD 400,000, equivalent to CNY 95,000, which is still a low price in the Taiwan market.

The Panda sold in the mainland is a five-door hatchback, while Tobe is remodeled on the basis of four-door Panda, which has not been released by Geely. Later, the five-door Panda will also be introduced to Taiwan.

Source: www.163.com (November 06, 2009)

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