Editing by Greg Gao

Geely Auto, a major Chinese automobile manufacturer, has incorporated Zhejiang Yuanzhixin Technology (远程智芯科技) – an automobile IC company, according to Chinese enterprise information platform Tianyancha.

Fan Xianjun, the current chairman of Geely Sichuan Commercial Vehicle and Geely Jiangxi New Energy Commercial Vehicle, serves as legal representative of the new company registered on January 12. It has a registered capital of RMB 10 million($1.57 million). 

The business scope of the new company covers  R&D of emerging energy technologies, IC, manufacturing of auto parts and accessories; sales of batteries, and energy storage technology services.

Geely has stepped into automobile semiconductor making for some time now. On December 10, 2021, it announced that Geely's subsidiary Hubei Si Engine Technology launched China's first in-house 7nm process automobile SoC“SE1000” with mass production scheduled in 2022. The SE1000 will first be used in Geely's car before other Chinese OEMs.

Gan Jiayue, CEO of Geely Automobile Group, said that intelligent vehicles would be the core products that Geely will focus on in the next five years. The key to a better smart car experience lies in chips, software & operating systems, and data.

Despite the global shortage of automobile chips throughout 2021, the total sales volume of Geely vehicles reached 1,328,029 units. The production and sales exceeded one million units for five consecutive years, and its market share increased steadily. Geely exported 115,008 cars overseas in 2021, an increase of about 58% than the previous year.