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© Business Region Göteborg Business | June 28, 2017

Geely invests in Sweden

Geely Auto Group (Geely Auto) and the City of Gothenburg signed a Letter of Intent to develop a 70'000 square metres Innovation Centre in the heart of Gothenburg.
The planned Geely Innovation Centre will be located at the Lindholmen Science Park in Gothenburg and will upon completion house the China Euro Vehicle Technology Centre (CEVT), Geely powertrain R&D centre, Geely Design Europe, LYNK & CO’s International Marketing, Sales, and Services, as well as several key suppliers to Geely and serviced apartment facilities.

The new Geely Innovation Centre, with operations planned to start in 2020, will be wholly owned by ZGH and operated by Geely Auto through a new Swedish holding company.

Swedish Prime Minister Löfven was quoted saying “We are very pleased with Geely's long-term commitment, belief and investment in Sweden. Geely has developed and strengthened Volvo as a leading car brand and this new Innovation centre, together with earlier substantial investments, contributes to both growth and jobs in Sweden.”

Gothenburg's mayor Ann-Sofie Hermansson said “This is indeed a great day. I am very happy about the Letter of Intent and about the establishment of a Geely Innovation Centre in Gothenburg. The new facilities will not only be an important step forward for Geely, they will also be very positive for the local automotive cluster, for the City of Gothenburg, for the automotive industry in Sweden, and for Sino-Swedish relations in general.“

Chairman Li Shufu commented, “The Swedish government and the city of Gothenburg have been very supportive of our R&D efforts and we highly appreciate their unwavering support. We are fully committed to our long term investment in Sweden, furthermore by leveraging the expertise and talent pool in Gothenburg. By working alongside the planned Electric Mobility Lab in Lindholmen, we aim to develop the Geely Innovation Centre into one of the most advanced innovation hubs in Europe.”

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September 15 2017 9:25 AM V8.7.1-1