SHANGHAI — Geely Automobile Holdings has announced it has teamed up with Taiwan's Yulon Motor to produce and sell electric cars in Taiwan. The privately owned Chinese carmaker will export semi-knocked-down kits of its Panda compact sedan to Taiwan to be assembled into an electric car. The new model will be sold under Yulon's Tobe brand, Geely said in a statement.
The electrified Tobe will be powered by lithium-ion batteries and will use Yulon's green technologies.
Besides cooperating with Yulon, Liu said Geely will continue to develop its own electric vehicles, according to media reports.
Analysts said the Yulon tie-up is more proof of Geely's keen interest in advanced technology for new-energy vehicles. The Taiwan market could serve as a further stepping stone for Geely to speed up its already energetic global expansion plans.
Geely, which is currently bidding for Swedish brand Volvo, has been ramping up plans to go abroad as keen competition in the domestic market squeezes its profit. Its price-competitive models are also in demand in global markets.
Liu Jinliang, vice president of Geely parent company Zhejiang Geely Holding Group, earlier said the carmaker plans to distribute the Panda in global markets such as East Asia through Yulon.
An official from Geely told the Shanghai Daily earlier this week that a gasoline-powered version of the Geely Panda will also be available in Taiwan in 2010 and said, "Taiwan has the potential to be an export base for Geely in the future."
Inside Line says: Geely continues its move outward, seemingly in every direction as it pursues a global presence. — Vivian Jin, Correspondent
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