On the 27th, Geely Automobile signed a contract to acquire Australian Automatic Transmission Corporation (DSI). DSI is one of the two global automatic transmission companies that are independent of auto vehicle companies. As a result of the financial crisis, DSI entered bankruptcy in February this year. Geely said that after the acquisition, it will first restore the company’s matching supply to Ford.
Geely Automobile stated that after the acquisition of DSI, it will first resume its supply to Ford, then introduce DSI's products and technologies into China, and at the same time, seek DSI's approach to low-cost parts procurement in China and provide new product development for DSI. financial support. In addition, Geely will continue to maintain the relative independence of the DSI brand and DSI operations and continue to serve customers worldwide. Due to the transaction involved in disclosure, Geely Automobile Holdings shares yesterday suspended trading on the Hong Kong Stock Exchange, the stock closed at 0.68 Hong Kong dollars on Thursday.
Before the bankruptcy of DSI, it matched the world famous automobile companies such as Ford, Chrysler and Ssangyong.
Previously, there were reports that Geely intended to acquire Volvo Cars. In this regard, Geely Group Chairman Li Shufu said that as long as it is conducive to the development of the company, beneficial to the interests of shareholders, Geely will consider a variety of strategic options, including mergers and acquisitions and reorganization, but there is no publicly available plans to acquire Volvo.
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