HONG KONG, Nov 06, 2009 (SinoCast Daily Business Beat via COMTEX) — GELYY | Quote | Chart | News | PowerRating — Geely Automobile Holdings Ltd. (SEHK: 0175) will extend its cooperation with Yulon Group to the electric vehicle field. Both sides will ink an agreement during the visit of Geely Board Chairman Li Shufu to Taiwan in late November 2009.
Yulon’s subsidiary Hua-chuang Automobile Information Technical Center Co. Ltd. (HAITEC) has developed electric vehicles based on Geely’s car model Panda, which will be sold to Mainland China as earliest as next year.
Previously, Yulon remodeled Panda into Tobe-branded mini cars, which will hit the Taiwan market at the end of 2009. The company has established a subsidiary especially responsible for the sales of Tobe.
Source: tradingmarkets.com
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