China's Geely angles for global success with new Geometry brand
Firm's first step in building a world-class car brand has been to launch its new electric car unit in S'pore
Singapore
MOST vehicle launches are for a brand new car, but this one was for a new car brand. On Thursday, China's Geely made the unusual move of unveiling a car to the world in Singapore, and with it, a nameplate for a new division that will specialise in battery-powered cars.
The company pulled the covers off the Geometry A, an electric car designed to rival Tesla's Model 3 for around half the price. The event at Marina Bay Sands was attended by more than 300 staff and car industry observers.
"Singapore is advanced in environmental protection and is a familiar place for the East and the West. By choosing Singapore, Geely wants to position itself as an international brand that is also focused on new energy," Zhejiang Geely Holding Group's vice-president of public relations Victor Yang sai…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
GM CEO Barra compensation fell 4% in 2023 to US$27.8 million
Boeing reports first revenue drop in 7 quarters as deliveries decline
Volkswagen to keep China market share stable as price war rages
COE quota for May-July up 2.7%; passenger car categories rise despite less cut-and-fill
Tesla profits tumble but shares rise on new vehicle plan
Volvo Cars see good demand this year after higher Q1 unit sales