A visitor takes a test drive of the Lynk & Co 02 compact crossover at the Geely Research Institute in Hangzhou Bay in Ningbo, east China's Zhejiang Province, July 3, 2018. (Xinhua/Shen Bohan)
BEIJING, May 6 (Xinhua) -- Chinese automaker Geely has recently inked a deal with the government of Xiangtan municipality in central China's Hunan Province to launch a new energy sport utility vehicle (SUV) project in the province.
According to the deal, the project requires a total investment of about 3 billion yuan and a brand-new new energy SUV model will be introduced at Geely's Xiangtan base.
It is expected that the first vehicle will be rolled off the assembly line in June 2023. After the project is fully completed, it will achieve an annual production and sales of 80,000 new models, with an annual output value of about 10 billion yuan.
Meanwhile, the project is expected to drive development of a component supporting industry with a production capacity of about 5 billion yuan.
According to Li Shufu, chairman of Geely Holding Group, Geely will join hands with Hunan to deepen and expand cooperation in the field of new energy vehicles (NEVs) and support Hunan's high-quality development. (Edited by Hu Pingchao with Xinhua Silk Road, email@example.com)