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Geely restructures smart driving R&D in latest cost cutting move: report
Geely Holding Group is restructuring its smart driving R&D by merging three divisions into a joint venture named Chongqing Qianli Smart Driving Technology Co., which will enhance collaboration and efficiency in intelligent driving technologies. The move includes hiring a Huawei executive to lead the new entity.
Key points
- Geely is merging three divisions focused on intelligent driving, employing over 3,000 engineers.
- The restructuring includes the establishment of Chongqing Qianli Smart Driving Technology Co.
- Wang Jun, formerly of Huawei, will lead this joint venture.
- Geely is reshaping operations across its electric vehicle brand Zeekr and Geely Auto.
- This move follows a strategic partnership with the AI firm Megvii and the Chongqing government.
Why it matters
- The restructuring aligns with global trends towards cost efficiency in the automotive sector amid supply chain challenges.
- This decision reflects growing competition in smart vehicle technology as companies strive for innovation and integrated solutions.
- Similar restructuring is observed in other auto manufacturers that are focusing on smart technology and consolidation to improve operational efficiency.
Geely's restructuring reflects a strategic shift aimed at enhancing efficiency and competitiveness in the rapidly evolving smart vehicle market, highlighting the significance of collaborative ventures in addressing industry challenges.