Hella, Geely Form Strategic Partnership |
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Hella KGaA Hueck & Company
Rixbecker Str. 75
Lippstadt, 59552
Germany
Press release date: May 14, 2007
PLYMOUTH, Mich., May 14 -- Hella, a global supplier of automotive lighting and electronic equipment and Chinese automotive manufacturer Geely, have signed a letter of intent to jointly work on the development of automotive electronics components and systems.
Under the agreement, Hella will provide Geely with technical support packages for vehicle body electronics.
Jean-Francois Tarabbia, CEO of the Automotive Electronics Division of Hella KGaA Hueck & Company and Li Shufu, chairman of Geely, took part in ceremonies finalizing the agreement at the 2007 Shanghai AutoShow.
"Signing this letter of intent is an important step in helping Hella's intensive and extensive global collaborations," said Tarabbia. "Hella is proud and honored to be involved in this strategic partnership."
"The cooperation between Geely and Hella signifies our further steps in using international resources within the automotive industry," said Li.
About Hella KGaA Hueck & Co. Hella, a global supplier, develops and manufactures components and systems for lighting and electronics for the automotive industry, including driver- assistance systems to enhance safety and comfort. In addition, its joint- venture companies produce complete vehicle modules, air-conditioning systems and vehicle-electric systems. Hella is also one of the world's largest companies selling automotive aftermarket parts and accessories, with its own sales companies and partners in more than 100 countries. Annual consolidated sales for the Hella Group total $4.4 billion. Hella is one of the 100 largest industrial companies in Germany. More than 24,000 people are employed in 70 production facilities, production subsidiaries and joint-venture companies. Nearly 2,900 Hella engineers and technicians work in research and development. Customers include all of the world's leading automakers and system manufacturers, as well as the automotive aftermarket. Additional information is available at www.hella.com.
About Geely Holding Group Founded in 1986, the Geely Holding Group is primarily engaged in the production and sale of automobiles and automotive components. The Geely Holding Group also focuses on motorcycle, automobile engines, gear boxes, components, higher education, manufacturing of decoration materials, tourism and the real estate industry. Geely has total assets of more than 650 million USD. With head offices in Hangzhou, China, Geely Group has four manufacturing bases in Linhai, Ningbo, Taizhou and Shanghai. The company now has an annual production capacity for 200,000 complete vehicles, 200,000 engines and 150,000 gear boxes. With the successive completion and operation of new projects in Ningbo, Taizhou and Shanghai, the company's complete annual vehicle production capacity will rise to 300,000 and the annual engine production capacity also will rise to 300,000. Geely Holding Group has nearly 8,000 staff members from home and abroad and has several major development centers including the Geely Automobile Research Institute and the Geely Engine Research Institute. Additional information is available at geely-global.com.
Source: Hella KGaA Hueck & Co.
CONTACT: Ulrich Koester of Hella KGaA Hueck & Company, +49.29.41.38.7566, or ulrich.koester@hella.com; or Marty Habalewsky, mhabalewsky@usautocom.com, or Larry Weis, lweis@usautocom.com, of AutoCom Associates, +1-248-647-8621, for Hella KGaA Hueck & Company
Web site: http://www.hella.com/ http://geely-global.com/
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