Geely Automobile (00175) plans to participate in the establishment of a joint venture company, which can strengthen its brand influence in Brazil and expand its market coverage.

The news of Wisdom Financial APP, Geely Auto (00175) announced that on June 20, 2025, the company, Geely Holdings, GA (SGP) (a wholly-owned subsidiary of the company), GH (SGP) (a wholly-owned subsidiary of Geely Holdings), Renault and the joint venture company signed a capital contribution agreement and joint venture agreement. GA (SGP) conditionally agrees to contribute to the joint venture company with all of its issued share capital and cash in exchange for ordinary shares, warrants and convertible preferred shares of the joint venture company. GH (SGP) conditionally agrees to contribute to the joint venture company with all of its issued share capital in exchange for ordinary shares of the joint venture company. After the delivery, the joint venture company will be owned by Renault, GA (SGP), GH (SGP) and an independent third party with 73.57%, 21.29%, 5.11% and 0.03% equity respectively.