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Geely Automobile Holdings Limited (GELYY)

22.70

+0.00

(+0.00%)

As of 11:26 AM EDT. Market Open.

Geely to Sell $1.32 Billion of Volvo Truck Shares

(Bloomberg) -- Shares of truckmaker Volvo AB dropped as much as 5.9% in Stockholm on Friday on news that China’s Zhejiang Geely Holding Group had sold the entirety of its Class B shares, worth about 14.1 billion Swedish kronor ($1.3 billion).Most Read from BloombergElon Wants His Money BackDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranNew York’s Rich Get Creative to Flee State Taxes. Auditors Are On to ThemRecord Rainfall in Dubai? Bla

Bloomberg 4 days ago

GELYY
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VLVLY
+0.30%
Are Auto-Tires-Trucks Stocks Lagging Geely Automobile (GELYY) This Year?

Here is how Geely Automobile Holdings Ltd. (GELYY) and OPENLANE (KAR) have performed compared to their sector so far this year.

Zacks 5 days ago

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China's Zeekr renews plans to raise up to $500 million in U.S. IPO, sources say

Zeekr, the premium electric vehicle (EV) brand of Chinese automaker Geely , has restarted stalled plans to raise up to $500 million in a New York initial public offering (IPO), according to two sources with direct knowledge of the matter. The company in November put listing plans to raise about $500 million on hold because of a mismatch in valuation expectations between investors and the company, Reuters reported then citing sources. Zeekr is now holding a non-deal roadshow with potential investors ahead of the IPO, the two sources told Reuters.

Reuters 20 days ago

GELYY
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Is Geely Automobile (GELYY) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?

Here is how Geely Automobile Holdings Ltd. (GELYY) and OPENLANE (KAR) have performed compared to their sector so far this year.

Zacks 21 days ago

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Geely Automobile (GELYY) Upgraded to Strong Buy: What Does It Mean for the Stock?

Geely Automobile (GELYY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Zacks 25 days ago

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Geely-Backed Meizu Taps Banks for IPO at $2 Billion Value

(Bloomberg) -- DreamSmart Group, the smartphone maker that last year pivoted toward developing artificial intelligence for mobile devices, has selected banks to prepare for its Hong Kong initial public offering that may value it at more than 15 billion yuan ($2.1 billion).Most Read from BloombergPutin Warns Russia Won’t Stop After Predictable Election WinApple Is in Talks to Let Google Gemini Power iPhone AI FeaturesSaudi Wealth Fund Said in Talks to Acquire National AirlineChina’s Growth Bump M

Bloomberg last month

GELYY
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CNICF
How China Is Churning Out EVs Faster Than Everyone Else

Riding China’s EV boom, upstart automakers have eclipsed foreign rivals to develop cars faster, push the boundaries of smart tech and swamp consumers with choice.

The Wall Street Journal last month

BYD

BAIDF

BIDU
UPDATE 1-Tesla rolls out new incentives in China as price war escalates

Tesla unveiled new incentives, including insurance subsidies, on Friday to woo consumers in the world's largest auto market, where the U.S. electric vehicle giant is in a protracted price war against entrenched rivals such as BYD. Customers picking up existing inventories of Model 3 sedans and Model Y SUVs by the end of March would be entitled to a maximum of 34,600 yuan ($4,807.76) worth of incentives, Tesla said in a post on its Weibo account. Among the incentives are a 8,000 yuan discount in car insurance products with partnerships with Tesla, and a 10,000 yuan discount if the buyer chooses a change of paint.

Reuters last month

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TSLA
Banks throw Polestar $1 billion lifeline after China’s Geely pledges to support its ailing EV maker

After large shareholder Volvo refused to continue financing Polestar's business, questions arose whether the latter would be able to survive the ongoing shakeout in the EV market.

Fortune last month

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VLVLY
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Polestar secures £750m lifeline after Volvo pulls backing

Swedish electric car maker Polestar has secured a $950m (£750m) funding lifeline after the struggling luxury brand lost the backing of Volvo.

The Telegraph last month

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UPDATE 1-Polestar raises almost $1 bln, sees margins improving in 2024

Polestar said on Wednesday it had raised a $950 million loan from a bank syndicate, helping to fill a gap left when Volvo Cars said it would stop funding the electric carmaker, sending its New York-listed shares 18.5% higher. Polestar also forecast double-digit gross profit margins by the end of 2024, against an expected flat outcome in 2023. "It is crucial for us to be able to concentrate on rolling out our car programs, and it provides the funds needed to complete the model program that we have with Polestar 2,3 and 4 this year, and the 5 joining in 2025," CEO Thomas Ingenlath told Reuters.

Reuters last month

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Polestar raises almost $1 billion, sees margins improving in 2024

Polestar said it has raised a $950 million loan, helping to fill a gap left when Volvo said it would stop funding the EV maker.

Reuters last month

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VLVLY
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CORRECTED-Polestar raises almost $1 bln, sees margins improving in 2024

Polestar said on Wednesday it had raised a $950 million loan from a bank syndicate, helping to fill a gap left when Volvo Cars said it would stop funding the electric carmaker. Polestar also forecast double-digit gross profit margins by the end of 2024, against an expected flat outcome in 2023. "It is crucial for us to be able to concentrate on rolling out our car programs, and it provides the funds needed to complete the model program that we have with Polestar 2,3 and 4 this year, and the 5 joining in 2025," CEO Thomas Ingenlath told Reuters.

Reuters last month

GELYY
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Geely's Zeekr 001 takes on Tesla's Model 3 with 10% price cut as discounts deepen in China's EV market

Geely's premium electric-vehicle (EV) unit Zeekr has cut prices by 10 per cent, joining the fray against mainland Chinese rivals after BYD fired the first salvo this month. The refreshed versions of the Zeekr 001, which competes with Tesla's Model 3, are now priced at 269,000 yuan (US$37,367) to 329,000 yuan, compared with 300,000 yuan to 386,000 yuan for the previous editions, the carmaker said on Tuesday evening. The new 001 will be equipped with a raft of cutting-edge technologies, including

South China Morning Post last month

GELYY
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20 Most Valuable Electric Car Companies in the World

In this article, we will discuss the 20 most valuable electric car companies in the world. This article will focus on recent industry trends and the major players in the industry. If you want to skip our analysis, you can proceed to the section highlighting the 5 Most Valuable Electric Car Companies in the World. […]

Insider Monkey last month

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TSLA

STLAM.MI
There’s a New EV Stock for Investors to Know

Lotus Technology and the SPAC L Catterton Asia Acquisition closed a merger. That means the Lotus brand is now a publicly traded company.

Barrons.com 2 months ago

LCAAW

GELYY
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Aston Martin sees no 'recessionary mood' from clients; F1 team poised to improve, billionaire owner says

Aston Martin unveiled a trio of vehicles today, including its new Formula 1 race car, as the British luxury automaker aims for a strong 2024 after a somewhat challenging 2023 both on and off the track.

Yahoo Finance 2 months ago

LCID

AMGDF

ARGGY
Exclusive-Renault, Geely expect to finalise engines tie-up this month - sources

PARIS (Reuters) -French carmaker Renault and Chinese rival Geely expect to finalise a joint venture for their combustion and hybrid engines towards the end of February, two sources close to the matter told Reuters. At the same time, Saudi Aramco is set to announce the signing of a memorandum of understanding to invest in the venture, one of the sources said, a move that would confirm Aramco's letter of intent from March last year. The deal is key for Renault which, despite an improved performance, is overshadowed by bigger rivals including Stellantis.

Reuters 2 months ago

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RNO.PA
China’s push to put Lotus in the electric car fast lane

Few people think of Norfolk as key to the history of electric cars.

The Telegraph 2 months ago

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China's Geely launches 11 low-orbit satellites for autonomous cars

Chinese automaker Geely Holding Group said on Saturday it has launched 11 low-earth orbit satellites, its second dispatch, as it expands its capacity to provide more accurate navigation for autonomous vehicles. The satellites were launched from the Xichang Satellite Launch Center in the southwestern province of Sichuan, Geely said in a statement sent to Reuters. Geely said it expects 72 to be in orbit by 2025 and eventually plans to have a constellation of 240.

Reuters 2 months ago

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Performance Overview

Return	GELYY	HANG SENG INDEX
YTD	+3.47%	-1.28%
1-Year	-5.19%	-16.17%
3-Year	-58.13%	-41.48%

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Geely Automobile Holdings Limited (GELYY)

Geely to Sell $1.32 Billion of Volvo Truck Shares

Are Auto-Tires-Trucks Stocks Lagging Geely Automobile (GELYY) This Year?

China's Zeekr renews plans to raise up to $500 million in U.S. IPO, sources say

Is Geely Automobile (GELYY) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?

Geely Automobile (GELYY) Upgraded to Strong Buy: What Does It Mean for the Stock?

Geely-Backed Meizu Taps Banks for IPO at $2 Billion Value

How China Is Churning Out EVs Faster Than Everyone Else

UPDATE 1-Tesla rolls out new incentives in China as price war escalates

Banks throw Polestar $1 billion lifeline after China’s Geely pledges to support its ailing EV maker

Polestar secures £750m lifeline after Volvo pulls backing

UPDATE 1-Polestar raises almost $1 bln, sees margins improving in 2024

Polestar raises almost $1 billion, sees margins improving in 2024

CORRECTED-Polestar raises almost $1 bln, sees margins improving in 2024

Geely's Zeekr 001 takes on Tesla's Model 3 with 10% price cut as discounts deepen in China's EV market

20 Most Valuable Electric Car Companies in the World

There’s a New EV Stock for Investors to Know

Aston Martin sees no 'recessionary mood' from clients; F1 team poised to improve, billionaire owner says

Exclusive-Renault, Geely expect to finalise engines tie-up this month - sources

China’s push to put Lotus in the electric car fast lane

China's Geely launches 11 low-orbit satellites for autonomous cars

Performance Overview