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Geely

All articles tagged with #geely

business22 days ago•3 min saved

Geely Builds a U.S. Footprint Through Volvo, Polestar, and Zeekr

Geely Holding is quietly building a U.S. foothold by owning stakes in Volvo Cars, Polestar, and Lotus, plus its Zeekr/Lynk & Co brands, gaining dealer-network access and potential U.S. production. Volvo’s Charleston, SC plant could expand, with XC60 hybrid adding about 45k units/year and Volvo aiming for roughly 200k U.S. sales, with a large portion produced locally. Zeekr is seen as the best candidate to lead a U.S. entry, aided by Waymo’s use of Zeekr tech, while bipartisan opposition to Chinese automakers persists; other Chinese players like BYD and CATL are expanding in the U.S. The takeaway: Geely’s U.S. strategy hinges on networks, platforms, and potential local manufacturing.

via CNBC|

#business #geely #polestar

technology2 months ago•53 min saved

Nvidia expands robotaxi drive by adding BYD and Geely to Drive Hyperion

Nvidia announced at GTC that BYD and Geely will join its Drive Hyperion platform for Level 4 robotaxi development (alongside Isuzu and Nissan), with Geely’s Zeekr using Thor chips and Waymo and Lyft leveraging Nvidia tech for car and cloud services. The move widens Nvidia’s footprint in autonomous driving amid US‑China tensions and underscores its push to grow its automotive business, even as auto revenue remains a small share of total revenue.

via The Verge|

#byd #drive-hyperion #geely

transportation3 months ago•61 min saved

Geely’s US car push hits cybersecurity gate

Geely, which controls Volvo, plans to build cars in the U.S. via Volvo’s South Carolina plant, but a new Commerce Department rule requires that all software and connectivity tech be free of Chinese control. Software for model years 2027+ must be certified, with per-model/year authorizations, and hardware bans begin for 2030; no waivers have been issued yet. Volvo may help navigate approvals, but Geely would need to prove software origin and data governance for every model/year before selling in America.

via theverge.com|

#autonomous-driving #commerce-department #cybersecurity

technology4 months ago•6 min saved

Trump Opens Doors to Chinese EVs, If They Build in America

President Trump says Chinese EV makers can enter the U.S. market only if they build plants in the United States and hire American workers, with BYD and Geely among those eyeing U.S. expansion. A CAM ranking names BYD, Geely, and VW as the top EV innovators, while Ford defends its costly EV reset and shifts toward affordable models under the UEV plan, signaling intensifying competition in the American EV space.

via InsideEVs|

#byd #china #ev

businesstechnology2 years ago•0 min saved

"China Urges EV Manufacturers to Prioritize Local Chip Purchases Amid Escalating US Tensions"

In response to escalating tensions with the US, the Chinese government has urged electric vehicle manufacturers like BYD and Geely to increase their purchases from local auto chipmakers, aiming to reduce reliance on Western imports and bolster China's semiconductor industry. The Ministry of Industry and Information Technology has set a goal for automakers to source a fifth of their chips locally by 2025, but is reportedly dissatisfied with the current pace of progress.

via Bloomberg|

#businesstechnology #byd #china

business2 years ago•2 min saved

Volvo to Reduce Stake in Polestar, Shifts Focus Away from Electric Vehicle Maker

Volvo plans to sell 62.7% of its stake in EV maker Polestar and cut off funding, aiming to focus on its own development as it transitions to lead in next-gen mobility. Despite the sale, Volvo will retain influence over Polestar and continue collaboration. Geely, Polestar's parent company, will support the EV maker financially and operationally. Polestar is set to launch new models, while Volvo also has an exciting lineup of EVs launching this year. Polestar's stock is down over 8% following the news, reflecting a broader downturn in EV stocks.

via Electrek.co|

#business #ev #geely

space-technology2 years ago•4 min saved

"China's Rapid Satellite Launches: From Inland to Low-Orbit Missions"

China successfully launched 20 satellites into orbit using two separate rocket launches, including 11 mobility services satellites for Chinese automaker Geely and nine diverse satellites for various customers. The launches included the third Jielong-3 (Smart Dragon-3) solid rocket launch from a mobile sea platform, indicating a growing cadence of sea launches for China. The satellites are part of plans to establish global real-time data communication services and demonstrate advanced capabilities such as autonomous processing and laser-based communications.

via SpaceNews|

#china #geely #jielong-3

technology2 years ago•3 min saved

"Geely's Satellite Fleet: Revolutionizing Real-Time Communication and Autonomous Driving"

Chinese carmaker Geely's subsidiary, Geespace, launched 11 communications satellites into low-Earth orbit, aiming to provide real-time satellite communication for its vehicles and consumer electronics. The company plans to deploy a network of satellites to support features in Geely vehicles and offer global satellite communication services. Geespace's efforts reflect China's push to catch up in low-Earth orbit, challenging SpaceX's dominance in the area.

via Fortune|

#geely #geespace #low-earth-orbit

technology2 years ago•1 min saved

"Geely's Satellite Launch Boosts Autonomous Car Navigation"

Chinese automaker Geely has launched 11 low-earth orbit satellites to enhance navigation for autonomous vehicles, with plans to have 72 in orbit by 2025 and a constellation of 240 in the future. The satellite network will provide high-precision positioning support for self-driving cars and other commercial functions, including connectivity to the consumer electronics sector. This move reflects China's increasing private investment in the space industry and aligns with Beijing's five-year plan for an integrated network of satellites for communications, remote sensing, and navigation.

via Reuters|

#autonomous-vehicles #china #geely

business2 years ago•3 min saved

"Volvo's Stock Surges as Company Ends Funding for Polestar EV Brand"

Volvo's stock surged after reporting strong sales and a 70% increase in EV deliveries, resulting in a 21% revenue jump and a 43% surge in profit. The company will no longer fund Polestar and is evaluating a potential adjustment with its shares, with Geely Sweden Holdings possibly becoming a new shareholder. Volvo's focus on the premium end of the EV market and its flexibility in product offerings have contributed to its success, with plans to become a fully electric company by 2030. Despite the ownership change, Volvo and Polestar will continue to collaborate on engineering for their next-generation vehicles.

via Yahoo Finance|

#business #ev #geely

automotive2 years ago•1 min saved

"Volvo Ceases Funding for Polestar Amid Geely Bailout Plans"

Volvo Cars will stop funding its all-electric performance brand Polestar and reallocate funds towards its own projects, as it plans to transfer a portion of its stake in Polestar to parent company Geely, which will provide full operational and financial support to Polestar. Despite Volvo's record profits and successful EV sales, Polestar has struggled, leading to layoffs and delivery target issues. The line between Volvo and Polestar has blurred, and Geely's bailout aims to support Polestar's future endeavors.

via InsideEVs |

#automotive #bailout #electric-vehicles

business2 years ago•1 min saved

"Volvo Cuts Ties with Polestar, Signals End of Electric Car Partnership"

Volvo is ready to stop funding Polestar and hand over control to Geely, its parent company, due to Polestar's struggles as an efficient investment and stable competitor in the EV market. Despite reporting some growth and positive reception for its Polestar 4 vehicle, Volvo is considering relinquishing its shares in Polestar, which have declined significantly since the company went public in 2022. Geely has announced its commitment to providing operational and financial support to Polestar as an independent brand.

via TESLARATI|

#business #electric-vehicles #geely

business-automotive-industry2 years ago•5 min saved

"Challenges Ahead for Volvo's Polestar in the EV Industry"

Geely's takeover of funding for struggling EV maker Polestar from Volvo Cars signals a shakeout in the global electric-vehicle industry, as the massive expense of developing EVs and a global EV-demand slowdown force tough decisions to cut losses. With Geely's majority stake in Volvo, the move aims to streamline investment and technology sharing across brands, including Polestar, as other EV startups also struggle with scaling up. The consolidation wave reflects a cooling capital-market enthusiasm for EVs, leading investors to reward companies that pull back on spending, while legacy automakers seek more public subsidies to increase production of electric vehicles.

via Reuters|

#business-automotive-industry #ev-industry #geely

business-automotive2 years ago•3 min saved

"Volvo's Breakup with Polestar Sends Shares Soaring"

Volvo has ended its funding for struggling luxury EV maker Polestar, leading to a 30% jump in Volvo's shares. The move comes as Volvo hands full responsibility for Polestar over to China's Geely, with analysts criticizing Volvo's involvement in the brand. Polestar, which recently announced plans to cut 15% of its workforce, needs $1 billion to stay afloat and faces pressure to go private. Meanwhile, Volvo is one of the first legacy automakers committed to an EV-only future by 2030, but is facing challenges in a competitive market and struggling with software issues. This development reflects broader shifts in the EV industry, with other companies reevaluating their EV strategies.

via Electrek.co|

#business-automotive #electric-vehicles #ev

business2 years ago•3 min saved

Volvo's shares hit rock bottom as Geely slashes stake

Volvo's shares hit an all-time low after China's Geely, the largest shareholder in the Swedish automaker, cut its stake. Geely reduced its ownership from 9.7% to 7.9%, causing concerns about the future of Volvo and its relationship with its Chinese parent company. The move comes as Geely focuses on its own electric vehicle brand, Zeekr, and raises questions about Volvo's position in the competitive EV market.

via CNN|

#business #china #geely