Since 2003, when Geely entered the global market, its auto units and products have gradually made their way into more than 30 countries.

Growing out of the Huangyan County Refrigeration Elements Factory established in 1986 in Taizhou, Zhejiang Province, Geely entered the auto industry in 1997. On August 8, 1998, the first independently developed Geely car drove off the assembly line.

The company currently operates six manufacturing bases and power assemblies respectively in Linhai, Ningbo and Luqiao of Zhejiang Province, in addition to facilities in Shanghai, Lanzhou (Gansu Province) and Xiangtan (Hunan Province), with an annual manufacturing capacity of 300,000 complete vehicles and 300,000 engines and transmissions. The company now has over 30 models of complete vehicle products in eight series, including Geely CK, Geely MK, Geely Vision, Shanghai Huapu and Coupe; 1.0L-1.8L engines in eight series; and manual and automatic transmissions in eight series.

The group's Geely Automobile Research Institute can launch four to five new car and engine models each year.

Employing 8,000 people, Geely has a registered capital of 630 million yuan ($92.24 million) and total assets of 5 billion yuan ($732.06 million).

The company expects to produce 42 models from 15 series by 2015, facilitating both left- and right-hand steering wheels and conforming to the regulations and consumer habits of all countries. Likewise, Geely will also be boasting eight different series of engines and seven series of manual and automatic transmissions. In addition, Geely plans to have an annual production and sales capacity of 2 million units and complete the construction of 15 overseas production bases, thereby achieving the goal of selling two thirds of its products in the world market.

International investors attracted

According to statistics released by the China Association of Automobile Manufacturers, in the first eight months of this year, China produced 8.25 million automobile units and sold 8.33 million, up 26 percent and 29 percent, respectively, year on year, ranking first in the world. The Chinese auto market, recovering first in the overall stagnant global market, has the potential to attract the attention of not only world famous automakers but also international investors.

Before the GSCP investment in Geely, a subsidiary of Berkshire Hathaway Inc., under Warren E. Buffett, spent $232 million purchasing 10 percent in shares of BYD Co. Ltd., while Chery Automobile Co. Ltd. received investments of 2 billion yuan ($292.83 million) from such overseas investors as CDH Investments and Bohai Industrial Investment Fund Management Co.

For Chinese automakers, in order to survive possible mergers and acquisitions in the Chinese auto market, obtaining capital injections from international investors is an outcome heavily sought after.

To international investors, Chinese automakers are likely to become leaders in the global auto market, and the Chinese auto market has already established itself as a market of key importance in the world.

The actions of international investors are solidifying the recognition of China as a major auto market. Ernst & Young, a global leader in assurance, tax, transactions and advisory services, announced on September 22 that it would be establishing a global automotive center in Shanghai.

Statistics from the company indicate that the global auto market will begin to recover by the end of 2010, while the Chinese auto market will maintain sustainable growth. By 2015, China expects to sell 15 million motor vehicles, becoming one of the three largest markets in the world together with North America and Europe.