Geely to build R&D center in Hangzhou

• Source: Global Times
• [08:39 January 12 2010]
• Comments

Zhao Fuquan, vice president of Geely said January 9 the carmaker will build a technical development center in Hangzhou, Zhejiang Province, in east China, with a 350 million yuan investment in the first stage.

Zhao will be in charge of the company's new center.

The so-called Geely Automobile Technology Center will cover 210 mu (140 square kilometers), and is expected to complete construction by 2020.

The main functions of the center are developing new models, powertrain and new technology. Meanwhile, it will undertake tasks to cultivate talent and manage Geely's management resources. The first auto collision lab in Zhejiang will also be built in the new center.

"Geely spent a lot of money in research and development. The amount has reached 10 percent of our sales revenue," said Zhao. Last year, the automaker invested about 120 million yuan in research, while the number of R & D personnel has reached 1,400.

Geely's first R&D center is in Linhai, Zhejiang, but the space and location are not adequate..

The automaker also announced Jan. 9 that it will launch three new models and nine improved ones. Geely aims to sell 25 percent more vehicles this year to 400,000 units.

Agencies and Shi Jierui contributed to this story