Geely JV underway in BelarusUpdated: 2013-07-19 15:27
On July 16, Chairman of Zhejiang Geely Holding Group, Li Shufu and Belarusian Minister of the Department of Industry, Dzmitry Katerynich signed an agreement forming a joint venture company to assemble big-size vehicles.
The agreement, indicating that the first auto joint venture between China and Belarus is formally underway, was signed during Belarus President Alexander Lukashenko's China visit.
According to the agreement, Geely will establish Geely (Belarus) Automotive with Belorussia's second largest mining machinery company, BELAZ and Belarusian national components joint venture company, SOYUZ. Geely (Belarus) Automotive will manufacture Geely vehicles in Belarus, including the GX7 SUV, SC7, SC5 and Cross Panda. With plans to cover the entire Commonwealth of Independent States market, the company will strive to improve capacity and enrich product categories.
Geely (Belarus) Automotive, located in Barysau, Minsk, achieved standard operating procedure in November, 2012. Belarus-assembled products already have received approval from Belarus and Russia. In March this year, Geely started selling its Belarus-assembled cars, SC7, in Minsk. The GX7 is expected to hit the Belarusian market by the end of 2013.