Geely buys British electric car research company Emeraldautomotive

Geely has once again acquired Emeraldautomotive, a research firm in British electric cars, after Geely held its bid to buy British manganese-holding business and core assets by 11.04 million pounds in the 0 cash/0 debt model this February 1.

It is reported that the acquisition is the overall acquisition, including the other party's team, technology, fixed assets and so on. Geely, after acquiring Emerald, allowed to keep the latter's loan commitments, including the loan commitments related to the proposed plant.

Geely's public relations director, Yang Coliang, said the acquisition of the electric Vehicle research company was to help Geely improve its ability to produce "next-generation" taxis, including electric taxis.

February 28 this year, Geely holding British company and British electric vehicle manufacturer Emeraldautomotive reached a takeover agreement. The daily economic news reporter learned from a statement released by Emerald that Geely pledged to invest at least $200 million in the next five years to develop Emerald's electric-car series.

According to the data, Mr. Li said during a meeting with British Prime Minister David Cameron in December last year that "the global taxi market will be developed through the channels of Geely's overseas market." London Taxi Company is developing next-generation products, the next generation of new products will be more lightweight, in the future will also be the introduction of petrol-electric hybrid taxis and all-electric taxis. ”

Mr Li's confidence in the future prospects of London's taxi companies has largely come from recognition of the technology of Emeraldautomotive, the UK's electric car start-up firm.

Yang Coliang said Geely has plans to first develop new energy vehicles for the London Taxi Company and will target taxis in markets such as China in the future.

It is reported that, as the subordinate resources of Geely Group, if the emeraldautomotive technology is maturing, new energy vehicles continue to be recognized by the market, Geely does not rule out the subsidiary technology in Geely other models.

Industry analysts believe that it is out of the successful acquisition of Volvo, so that Li Shufu determined to seek overseas acquisitions to upgrade their own research and development model. The acquisition is after the establishment of a joint venture with the Condi car industry, Geely in the new energy sector again layout. The move means Geely's pace in the new energy sector is starting to accelerate after years of relative silence.