China's Geely and LEVC Sign Strategic Cooperation Memorandum of Understanding

China's largest automaker, General Motors' subsidiary, Geely, and UK-based electric vehicle manufacturer, LEVC (formerly the London Electric Vehicle Company), have signed a strategic cooperation memorandum of understanding in Longyan, Fujian Province.

The partnership will focus on collaborative efforts in the new energy vehicle sector, aiming to enhance joint development and production capabilities. The two parties will work together to co-develop new energy vehicles and collaborate on component production, leveraging their respective technical strengths to boost product competitiveness.

Another key aspect of the agreement is the exploration of potential capital cooperation opportunities between Geely and LEVC. This could lead to a more comprehensive resource collaboration across entire supply chains for both companies.

The signing of this memorandum marks an exciting new beginning in the strategic partnership between Geely and LEVC, setting a solid foundation for their future collaborative endeavors.