© Volvo Cars - for illustrative purposes Electronics Production | August 29, 2018
Geely to build new plant to make a quarter of a million cars
The Chinese carmaker is reportedly building a new plant – capable of producing 250’000 bigger-sized cars – in order to reach its goal of selling more than 2 million vehicles by 2020.
The facility is being built in the city of Ningbo, where the company already runs an assembly plant, reports Reuters citing sources familiar with the matter. The addition of the new facility is said to enable Geely to manufacture about 250’000 more cars per year in Ningbo, and also add bigger-sized cars to its lineup. The plant run two assembly lines and according to information from a Geely-owned website, the company plans to invest about USD 498.3 million for one of them, the report continues.