Breaking news—Geely invests in SMART.

2019-04-09

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3:30 p.m. on March 28, Geely With Daimler in Geely The Hangzhou Bay Research Institute announced the establishment of a joint venture, with its headquarters located in China! The joint venture will be set up by the end of the year and will be jointly operated. smart Brand, positioning it as a leading premium all-electric vehicle brand.

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The new joint venture, established with each party contributing 50%, will have a 50:50 equity ratio, according to official statements. The joint venture will form a board of directors consisting of six members—three appointed by each side. Among them is Daimler’s... China District head Tang Shikai, Mercedes-Benz Global Vice President of Sales, Bethge, Mercedes-Benz Marcus, the group’s director in charge of production, Geely Group Chairman Li Shufu, Geely Group President An Conghui and Geely Li Donghui, Executive Vice President of the Group. On the marketing channel front, both sides are combining their respective strengths and resources.

Official sources revealed, “In 2022, all...” smart All of the company’s new products are electric vehicles, all manufactured in China and sold worldwide. A brand-new electric vehicle platform at the company’s new factory in China will begin production in 2022. The current location remains undisclosed. Daimler originally... smart The department is responsible for product design. Geely Responsible for R&D and production. smart Existing gasoline vehicles will be discontinued by the end of 2019. Before 2022, the Hambach plant in France and the plant in Slovenia will continue to produce the current electric vehicle models.

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