Geely Holding Group established Zhejiang Jiyao Tongxing Holding Co., Ltd.

Geely Holding Group quietly completed a key strategic move on October 21st, establishing Zhejiang Jiyao Tongxing Holding Co., Ltd. with registered capital of 1 billion yuan. The new company is wholly owned by Geely Industrial Investment and is represented by Xie Shibin. The new company will focus on the development of power batteries.