Geely Holding Group acquires Volvo Cars.
Geely Automobile, Geely Holding and Volvo Car have business cooperation. 2065438+On July 20, 2007, Geely Automobile signed a memorandum of understanding with Zhejiang Geely Holding Group Co., Ltd. and its subsidiaries and Volvo Car Company on the proposal to set up a joint venture between the company, Geely Holding and Volvo Car Company to produce and sell Lexus brand cars.
Geely Automobile will hold 50% of the shares in the joint venture company, and Geely Holding and Volvo Cars will hold the remaining 50%.
2065438+On August 4, 2007, Zhejiang Jirun Automobile Co., Ltd., a subsidiary of our company, entered into a joint venture agreement with Zhejiang Hao Qing Automobile Manufacturing Co., Ltd. and Volvo Car (China) Investment Co., Ltd., on this basis, Zhejiang Jirun, Zhejiang Haoqing and Volvo Investment conditionally agreed to set up a joint venture company to produce and sell Lexus brand cars and provide relevant after-sales services.
Equity ratio:
According to the joint venture agreement, the registered capital of the joint venture company will be RMB 7.5 billion, and the equity of the joint venture company will be owned by Zhejiang Jirun, Zhejiang Haoqing and Volvo, 50%, 20% and 30% respectively.
According to the unaudited sales data released by Geely Automobile, in the first165438+1October, Geely Automobile sold 1093500 vehicles, up about 66% year-on-year. Completed the annual sales plan of 165438+99%.