Emerald Automotive of Hazelwood, Mo. was acquired last week by Chinese automotive giant Geely Holdings Group.
Geely Group, which owns brands including Geely Auto, Volvo Cars and the London Taxi Co., announced plans to invest a minimum of $200 million over the next five years in the development of sustainable, low-emission vehicles for the global market using Emerald Automotive's technological advancements.
A management team for Emerald Automotive, an electric vehicle start-up company, will oversee the development of this new green technology in Hazelwood.
Read more about the global EV strategy on IndustryWeek.
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