Geely says to buy Chinese special vehicle maker

Newswire

SHANGHAI, Feb 25 (Reuters) - The parent company of Geely Automobile Holdings Ltd said on Thursday it plans to buy Chinese special vehicle maker Zhejiang Zhongyu Automobile Co as it moves to expand its product portfolio. It gave no financial details of the deal. Zhejiang Geely Holding Group, which is close to a deal to buy Ford Motor Co's Volvo cars unit [ID:nTOE60P02U], said it would use Zhongyu's existing facilities and technology to develop its own premium passenger cars, multi-purpose ...

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