Leading Auto Company Geely Holdings Now Plans to Make Smartphones

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(Source: Shutterstock)

Li Shufu, Chairman of Geely Holding Group, has founded a new company and signed a strategic cooperation agreement with the Wuhan Economic & Technological Development Zone (WEDZ), officially announcing its new smartphone business, the Hubei provincial government announced on Tuesday via Weibo.

The project is headquartered at WEDZ in central China, aiming to make high-end smartphones. It is reported to integrate global technologies and resources, serving the global market.

Li said: “Smartphones are fast iterative portable mobile terminals and application carriers for software innovation. They allow users to share innovative achievements as soon as possible, also transferring some safe and reliable achievements to automobiles. Applications can help achieve close interaction between cars and smartphone software technology.”

According to domestic media outlet Kuaikeji, Geely is one of the leading Chinese carmakers at present. Its supply chain and production line are complete, so it may not choose OEM. It is very likely that Geely will produce smartphones by itself.

Earlier, Pandaily reported on September 24 that Geely Chairman Li Shufu wanted to build smartphones, and the project was progressing rapidly. At that time, he had already started to look for talent in the industry, deciding thatthe company would set up offices in Wuhan, Shanghai and other places in Hubei, and even overseas.

According to public information, Li established Hubei Yikatong Technology Co., Ltd. as early as 2017, whose business scope includes R&D of electronic products and components, automotive electronic products, information system integration services and other areas.

In addition, Geely also established another new company in 2018, whose business scope includes satellite communication system, communication technology, data processing technology and telecommunications services.

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In recent years, the connection between the automobile and smartphone industries has become closer and closer. In March this year, Xiaomi announced that it would enter the automobile field, claiming to invest 10 billion yuan ($1.548 billion) in making its own cars, and now the domestic automobile leader will enter the mobile phone industry in turn.