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Geely, Yulon Motor to team up for lithium-battery electric cars

Published: 05 Nov 2009 19:42:28 PST

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Nov. 6, 2009 (China Knowledge) - Geely Automobile Holdings<0175>, a major domestic auto maker in mainland China, and Taiwan-based Yulon Motor Co Ltd will jointly develop electric cars that use lithium batteries, the Economic Daily News reported on Wednesday, citing unnamed sources.

Geely Chairman Li Shufu will sign a cooperation agreement with Yulon during his visit to Taiwan next month, the Taiwan-based newspaper said.

Another source said that Yulon Group may start assembling and selling cars for Geely in the island by the end of the year.

Yulon Motor is the largest auto maker in Taiwan. The company is known for building Nissan cars.

In the first nine months of the year, Zhejiang-based Geely and its five subsidiaries sold a total of 217,334 vehicles, 42% more than in the same period of last year. The figure represents 87% of the group's target for the whole year.