Geely Auto says to double capacity on assets buy

Newswire

HONG KONG, May 31 (Reuters) - Geely Automobile Holdings Ltd announced final details of its 723 million yuan (US$87.3 million) Chinese auto assets acquisition on Monday, a deal that will double its car production capacity to 200,000 units a year. Geely Automobile, the back-door listing vehicle of China's privately-owned automaker Zhejiang Geely holding Group Ltd, said it had agreed to buy a 90 percent stake in two car plants, an automobile research centre and an engine research centre, ...

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