Geely expands business presence in Ningbo
A factory of Zeeker, Geely's premium electric car brand, in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]
Zhejiang Geely Holding Group, one of the largest carmakers in China, signed a cooperation agreement with Ningbo on Nov 11 to expand its business presence in the city.
According to the agreement, the company will build its intelligent driving headquarters and an auto parts industrial park in the city's Hangzhou Bay New Area.
Construction of the 2,000-mu (133.3 hectares) auto parts industrial park will begin in 2022. The park is expected to host no less than 60 auto companies and 1,000 professionals within three years.
Representing an investment of roughly 5 billion yuan ($769.3 million), the intelligent driving headquarters will focus on R&D, sales and services of intelligent driving software, and domain controllers in automotive applications.
The facility aims to service 1 million cars in the coming 10 years.
Li Shufu, chairman of Zhejiang Geely Holding Group, said at the signing ceremony that Ningbo is an important manufacturing and innovation hub for Geely and the implementation of the projects in the city will further strengthen Geely's R&D capability.
Geely already has a big business presence in Ningbo.
Early last year, the company relocated the headquarters of its subsidiary Geely Auto Group to Ningbo and agreed to set up a 50-50 joint venture with German car company Daimler AG in the city to produce electric vehicles for global markets.
Ningbo has become the only city in the world where Geely can provide one-stop services ranging from design to production to vehicle tests.