Geely Holding Group signed an agreement with Zhongyu Automobile Co., Ltd., Geely Group acquired Zhongyu Automotive Hangzhou Production Base in the form of a complete acquisition and entered the commercial vehicle and special vehicle market.
Zhongyu Motors mainly produces mid- to high-end commercial vehicles and special-purpose vehicles, and is also the only refitted manufacturer authorized by DaimlerChrysler in the Asia-Pacific region to produce high-end commercial vehicles based on the Mercedes-Benz and Weiyi commercial vehicles. Li Shufu, chairman of Geely Group, said that Zhongyu has the right to modify Mercedes-Benz’s models, and Geely’s high-end models can also be modified by Zhongyu.
In the past year or two, Geely has frequently taken out corporate mergers and acquisitions, aiming at areas where it is lacking, and has quickly realized the entire product line of high-medium-low plus special vehicles. DSI's automatic transmission technology, Volvo's safety technology and Zhongyu's technical strength in the field of commercial vehicles and special vehicles are all important supplements to Geely's existing technology system. However, "a large share of the stalls, the family is difficult", the next step is how to activate the company, will be a huge challenge for Geely.
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