Posted by: mel | June 26, 2009

China’s Geely to invest $30 mln in Indonesia

From China Trade Information | 26 June 2009

Chinese carmaker GeelyHoldings Group plans to invest some 30 million U.S. dollars to set up distribution and marketing networks for its cars sold in Indonesia, the Antara news agency reported here on Friday.

Geely Holdings said through its Indonesian units PT Geely Mobil Indonesia it hopes to gain a substantial share of car market in the country.

Richard Yang, a director of Geely Holdings said that Indonesia is a potential market and would be its starting base to enter markets in the Southeast Asia region.

To test the Indonesian market, Geely would assemble 400 units of cars at PT Gaya Motor this year, 125 of them will be exported to China.

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