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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Geely Automobile Holdings Ltd    0175   KYG3777B1032

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Volvo Cars plans U.S. plant expansion, doubling investment - source

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09/19/2017 | 02:57pm CET
A Volvo logo is seen at a car dealership in Vienna

Volvo Cars is doubling investment in its first U.S. plant under construction to add a second production line at a total cost of $1 billion, a source with knowledge of the plans said, as the carmaker heads for a fourth straight year of record sales.

The move to raise capacity even before completion of the plant in Charleston, South Carolina will ultimately add 2,500 workers to the 2,000 already being recruited by the Swedish carmaker ahead of its 2018 opening, the source told Reuters.

A Volvo spokeswoman declined to comment. The increased investment was first reported by the Charleston-based Post and Courier newspaper.

The Charleston plant expansion is a vote of confidence in Volvo's sales momentum, buoyed by a revamped lineup led by the flagship XC90 SUV, even as U.S. auto market growth tails off.

Under the ownership of Chinese carmaker Geely's (>> Geely Automobile Holdings Ltd) unlisted parent company, Zhejiang Geely Holding Group, Volvo has recovered from a sales slump in its final years under previous owner Ford (>> Ford Motor Company) and is now challenging larger premium rivals such as BMW (>> Bayerische Motoren Werke) and Mercedes-Benz (>> Daimler).

The company, one of Sweden's largest by revenue, has blamed supply shortages for a 7 percent dip in U.S. deliveries so far this year and vowed to achieve year-on-year sales growth for 2017 as a whole, along with a new global record.

(Reporting by Niklas Pollard; Additional reporting by Johannes Hellstrom; Editing by Laurence Frost and Louise Heavens)

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Financials ( CNY)
Sales 2017 91 412 M
EBIT 2017 11 153 M
Net income 2017 9 455 M
Finance 2017 16 244 M
Yield 2017 1,14%
P/E ratio 2017 19,90
P/E ratio 2018 14,52
EV / Sales 2017 1,89x
EV / Sales 2018 1,43x
Capitalization 189 B
Chart GEELY AUTOMOBILE HOLDINGS
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Geely Automobile Holdings  Technical Analysis Chart | 0175 | KYG3777B1032 | 4-Traders
Technical analysis trends GEELY AUTOMOBILE HOLDINGS
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 24,8  CNY
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Sheng Yue Gui Chief Executive Officer & Executive Director
Wen Ze Xu President
Shu Fu Li Executive Chairman
Siu Lun Ang Executive Director
Jian Yang Vice Chairman
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