Geely’s Smartphone Factory to be Situated in Wuhan, R&D Center in Shanghai
The IT Times reported on Monday that Geely has set up a mobile phone research and development center in Shanghai and will build its own factory in Wuhan, Hubei Province. At present, the multinational auto firm is recruiting talent for the future Wuhan factory, based on public information available through online recruitment platforms.
Sun Yanbiao, Chairman of Sunrise Big Data, once revealed to IT Times that Geely’s attitude of making mobile phones is very determined, and it is ready to develop products independently with a mobile phone R&D center in Shanghai instead of being an original equipment manufacturer.
On September 28, Hubei Xingji Times Technology Co., Ltd., in which Geely Auto’s Chairman Li Shufu holds 55% of shares, signed a strategic cooperation agreement with Wuhan Economic and Technological Development Zone, officially announcing its entry into the mobile phone industry.
SEE ALSO: Leading Auto Company Geely Holdings Now Plans to Make Smartphones
Hubei Xingji Times Technology was established on September 26, 2021 with a registered capital of 80 million yuan ($12 million), with a business scope including mobile terminal equipment manufacturing and mobile communications equipment sales.
Earlier in September, a company named Shanghai Boxing Technology Co., Ltd. was established, with Wang Yong as its legal representative and Li Shufu holding 72% of shares. Shen Ziyu, the second shareholder, founded Ecarx, an intelligent automobile technology company owned by Geely, along with Li Shufu.
According to IDC’s quarterly mobile phone tracking report, the top five brands in mobile phone shipments in the second quarter of 2021 were Vivo, Oppo, Xiaomi, Apple and Honor, with a total market share reaching close to 82%. The competition for Geely to enter the mobile phone market is still fierce.
