Geely automobile is one step closer to becoming the first auto stock on Shanghai's Star Market.
The Shanghai Stock Exchange Science and Technology Innovation Board released Geely Auto's inquiries and responses on September 18, 2020. Geely Auto responded to 27 questions raised by the board. In its reply, Geely Automobile stated that the company has strong technological attributes and has a number of technical approaches to the development of new energy vehicles. The company is developing a second-generation HEV system with a target fuel saving rate of 45%, which is comparable to that of Japanese cars.
The announcement pointed out that, in terms of existing products, the company uses independently developed three-in-one drive systems (motor, electronic control, and reducer). The mechanical efficiency has reached a high level and has achieved a lower overall production cost. At the same time, in terms of battery packs, the company has developed a platform, BMS (battery management system).
In addition, Geely also said that after the subsequent liberalization of foreign investment equity restrictions, the firm is expected to obtain the qualification for vehicle manufacturing.