LINE

    Text:AAAPrint
    Economy

    Geely taps into SE Asia

    1
    2017-06-26 09:36Global Times Editor: Li Yan ECNS App Download

    China's Zhejiang Geely Holding Group has officially entered the Southeast Asian market after signing a deal on Friday to acquire a 49.9 percent stake in Malaysian carmaker Proton.

    With the deal, the Chinese carmaker plans to expand its market share in Southeast Asia in order to meet its sales goal of 3 million cars by 2020, Geely Chairman Li Shufu said at a signing ceremony of the new deal in Kuala Lumpur, according to Reuters.

    "For Proton, we hope to help gain back market share in Malaysia, and also expand into the ASEAN [Association of Southeast Asian Nations] market," Li was quoted as saying in the Reuters report.

    The agreement, valued at about $108 million, between Geely and Malaysia's DRB-Hicom, which wholly owns Proton, would also give the Chinese firm a 51 percent stake in British carmaker Lotus, which is owned by Proton.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 红安县| 新野县| 淄博市| 兴业县| 洮南市| 奉新县| 德庆县| 阳山县| 克拉玛依市| 张家川| 苏尼特右旗| 武城县| 临沂市| 朝阳区| 德惠市| 庆元县| 苍南县| 垦利县| 昔阳县| 乌兰县| 边坝县| 监利县| 建宁县| 景洪市| 濉溪县| 吕梁市| 衡南县| 兴城市| 临泽县| 柳河县| 宁津县| 芦山县| 浑源县| 阜宁县| 资中县| 兴隆县| 磐石市| 镶黄旗| 满城县| 金溪县| 阿城市|