Geely Targets Global Markets with Small SUV

Geely Automobile Co. plans to introduce a small SUV in China in 2017, expand sales to several European markets in about 2019 and then enter the U.S., former Geely executives tell Reuters.

The sources say Geely's strategy in Europe will be to debut the SUV with a plug-in hybrid powertrain to bolster the company's image as a provider of low-cost, high-tech vehicles. More conventional powertrains would follow.

Geely will unveil the new SUV at the Geneva or Beijing auto shows next spring, according to Reuters. One of its sources says the vehicle will be offered in eastern Europe, Italy, Portugal, Spain and the U.K. markets deemed the region's most receptive to foreign brands.

The still-unnamed SUV reportedly will be built on the so-called compact modular architecture developed by Zhejiang Geely Holding Group to carry next-generation Volvo cars. A Reuters source says Geely Chairman Li Shufu is eager to show the company is ready to break into global markets.