Geely Automobile Holdings announced that it has agreed to allow Zhejiang Geely Holding Group, which operates Proton, to sub-license three Geely models to Proton until 2020, with the first model being the X70.
According to a financial report by Geely Automobile Holdings (first reported by our friends over at Automachi), the total licensing fee is CNY 1,344,000,000 (about RM 810,000,000), which will be settled by Zhejiang Geely Holding Group in five equal annual installments over the course of 5 years.
Geely Automobile Holdings is listed on the Hong Kong stock exchange while Geely Holding Group is the subsidiary that runs Proton.
The Geely Binyue was launched in China back in August, built on the company’s new BMA platform. Power comes from a 1.5-litre turbocharged 3-cylinder that outputs 177 hp and 255 Nm, mated to a 7-speed dual-clutch transmission. The Binyue’s century sprint is said to be completed in just 7.9 seconds.
As for the VF11 MPV, the Hangzhou-based company recently teased the model, though details of the new MPV remain scarce. Thus far, we understand that the new MPV will be longer than the Proton Exora, possibly hinting that the new model may not necessarily replace the Exora.
At the moment, it remains to be seen how soon will Geely introduce the two models here, though sources familiar with the matter said that a debut in 2019 is possible.