China’s Zhejiang Geely Holding Group has acquired US electric vehicle company Emerald Automotive for an undisclosed sum, according to reports in China.
The acquisition of Emerald, which has operations in the US and UK and is currently only at the development stages of electric vehicles, is expected to help Geely develop its next generation of zero-emission vehicles, including taxis.
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Geely already owns the UK black cab manufacturer, Manganese Bronze Holdings. Emerald’s key product is the electric-powered T-001 light delivery van, with a 1.4 tonne payload capacity and a three-tonne gvw.
Geely has committed to investing US$200m in Emerald to help develop further the range of products and the technology applications as well as putting them into production.
