GEELY WINS AWARDS IN CHINA

Geely continues to win awards in China as the car maker progresses the strategic transformation it began in 2007 and which saw it acquire Volvo Cars in 2010.

Following the awarding of the National Scientific and Technological Progress award for its innovation system in 2010, Geely has won several awards this year including two special honours, “The Enterprise with Most Achievements of the Decade Award” and “The Enterprise with Most Progress of the Decade Award.”

The awards, jointly presented by the Management Case Centre of Peking University (MCCP) and the Economic Observer, a leading business newspaper in China, aim to commend those enterprises with substantial achievements in the past decade. Winners also included Haier, Lenovo and Microsoft (China).

Geely was rewarded for perseverance and adherence to powerful and independent innovation, continuous exploration, and a dedication to meeting customers’ needs. The company’s success also points to the optimistic growth of the Chinese automotive industry, with both ups and downs in years 2001 to 2011. Geely’s acquisition of Volvo Cars for $1.8 billion was a significant factor in its Decade Awards.

The Zhejiang-based company is in the fifth year of its transformation from an affordable vehicle brand to a quality and technology-driven, globally competitive carmaker has seen the company inject massive manpower and financial resources in technology innovation over the past few years. Almost eight percent of its sales revenue is used on research and development with its staff complement expanding to around 2 000 members from just hundreds.

Social responsibility is a key element in the company’s philosophy and focus and it contributes to substantially to education as well as promoting the development of China’s Project Hope, all activities aimed at promoting a harmonious society.

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