Shanghai (ZXZC)- On May 23, Zhejiang Geely Holding Group signed a cooperation agreement with Chengdu municipal government, marking that Chengdu Economic and Technology Development Zone has officially become the site for Geely alternative fuel vehicle and pan-Eurasian parts base. Sichuan Provincial Secretary Peng Qinghua and Geely president Li Shufu made their presence at the signing ceremony.

According to the agreement, Geely Holding Group will invest and deploy in R&D of alternative fuel vehicles, parts manufacturing and mobility services. The conclusion of the agreement will help Geely to build a manufacturing platform with capacity of one million vehicles and set up an industry park of pan-Eurasian parts base. Moreover, it will also help the group to gain a total value of more than RMB 100 billion in auto industrial chain in Chengdu.

Sichuan warmly welcomed Geely to set up new projects in the province, and hoped Geely to increase investment in Sichuan, accelerate the construction of big projects, based on its close cooperation with Sichuan. By virtue of cooperating with Geely, the province also expected Geely to help transform and upgrade Sichuan's auto industry.

At the same time, Geely's subsidiary, Mitime Group, also started the construction of a project, which includes education for auto specialists, important international automotive races. The construction will further enhance Geely's deployment in Chengdu. As Geely Auto, Volvo and Polestar have built factories in Chengdu in succession, Chengdu is playing an increasingly important role in Geely's development.