Geely recently signed a CKD supply, assembly and distribution agreement with GB Auto, a leading automotive assembler and distributor in the Middle East and North Africa (MENA).
Vice President of Zhejiang Geely Holding Group and General Manager of Geely International Corporation Dr. Zhang Lin, together with GB Auto Chief Business Development Officer Mr. Osman Sever at the signing ceremony.
According to the agreement, GB Auto will assemble and distribute Geely products at its assembly plant in Cairo, the capital of Egypt. The first model will be EC7 which will be launched in July 2012. GB Auto’s assembly plant has capacity for 30,000 units per year at the first stage.
“We selected Geely after an exhaustive global search and are absolutely convinced that Geely’s offering will do what we demand of all of our brands: Offer the best value for money in a critical segment that meets our consumers’ need and expectations,” GB Auto Chairman and Chief Executive Officer Dr. Raouf Ghabbour said.
GB controls 32 percent of the Egyptian passenger car market, where it rose to success as the exclusive local assembler, importer and distributor of cars, commercial vehicles, motorcycles and three-wheelers (tuk-tuks), tires and construction equipment. It is now the Middle East’s largest car assembler.
Geely overseas sales reached 38,028 vehicles in 2011, raising 76 percent compared to 2010. It also has richer product structure in overseas market than before, among which LC, EC7, EC8, EC7-RV have contributed the sales volume.
