Chinese automaker Geely enters EU market – Xinhua

A Geely’s Geometry C electric car is displayed ahead of the signing ceremony in Budapest, Hungary, Nov. 4, 2022. (Photo by Attila Volgyi/Xinhua)

GACE will distribute Geely’s Geometry C, a premium class electric car model, in Hungary, the Czech Republic and Slovakia through its network dealerships. The first Geely-branded cars are expected to be sold in these three countries in the first half of 2023.

BUDAPEST, Nov. 4 (Xinhua) — Chinese automaker Geely Auto Group entered the European Union (EU) market by signing an agreement with Hungarian auto importer Grand Automotive Central Europe (GACE) on Friday.

The agreement was signed by Xue Tao, Executive Deputy Managing Director of Geely Auto International Corporation, and Viktor Molnar, Managing Director (CEO) of GACE.

GACE will distribute Geely’s Geometry C, a premium class electric car model, in Hungary, the Czech Republic and Slovakia through its network dealerships. The first Geely-branded cars are expected to be sold in these three countries in the first half of 2023.

Xue Tao (L), Executive Deputy Managing Director of Geely Auto International Corporation, shakes hands with Viktor Molnar, Managing Director (CEO) of Grand Automotive Central Europe (GACE), during the signing ceremony of the distribution agreement in Budapest, Hungary, Nov. 4, 2022. (Photo by Attila Volgyi/Xinhua)

“This is the first time for the Geely brand to enter the European Union market,” Xue said. “This partnership with Grand Automotive Central Europe represents a significant step forward for Geely’s globalization ambition.”

Geely, a global company, has a rich product lineup that includes combustion engine vehicles, electric cars, hybrid vehicles, methanol cars and even battery swaps, Xue said.

Technical equipment, mobile phones and machinery made in China are considered “high quality”, in fact even better than most products from established European manufacturers, Molnar told Xinhua after the signing ceremony.

“If you look at the automotive industry, the very first signs and early feedback from European customers about Chinese cars is overwhelmingly positive,” Molnar said.

“Since we are moving forward with e-mobility, electric vehicles, I think Chinese automakers have a super chance to improve overall quality and technology leadership,” he said.

A Geely’s Geometry C electric car is displayed ahead of the signing ceremony in Budapest, Hungary, Nov. 4, 2022. (Photo by Attila Volgyi/Xinhua)

According to Geely, internationalization is the key to the company’s strategic configuration, and the entry of its brand into the Central and Eastern European market is an important step in its globalization strategy.

Geely Auto Group, founded in 1997, is a major automobile manufacturer based in Hangzhou, capital of Zhejiang province in eastern China. Its well-known automobile brands include Geely Auto, Volvo, Polestar and Lotus.

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