As China's homegrown brands rise to prominence, they are also placing greater emphasis on expansion in overseas markets.
Chinese auto giant Geely Auto said Wednesday it entered into a strategic partnership with international auto retail giant Inchcape Group on July 26 to jointly tap global markets.
From January to June, Geely's sales reached 630,237 units, up about 19 percent from a year earlier. During this period, it exported 53,422 vehicles to overseas markets, up 173 percent year-over-year.
Inchcape CEO Duncan Tait said the partnership is an exciting opportunity for both Inchcape and Geely.
The two signed a statement of cooperation to jointly develop the Chilean market, according to Geely.
Chile is an important automotive market in South America, and Geely Automotive wants to leverage the resources Inchcape already has in Chile to increase its market share.
Geely can provide high-tech and high-value-added products for global consumers, while Inchcape's channel resources and digital platform advantages in Chile will help both parties open up the market quickly, Tait said.
The two sides plan to expand their cooperation to more countries to better leverage Geely's product strength and Inchcape's channel advantages, according to Geely's statement.
Headquartered in London, England, Inchcape is the world's largest independent automotive retailer, with more than 15,000 employees.
The company operates in 36 countries and territories, with core markets including Australia, Belgium, Singapore and the United Kingdom, and is expanding its presence in the Balkans, Russia and South America.
Geely exits as majority shareholder of its premium EV brand Zeekr
(Source: Geely)
