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British luxury performance car brand Lutes domestic project has been officially launched. A few days ago, Geely Holdings Group's high-end vehicle project officially started in Hannan District, Wuhan, mainly to produce domestic models of the Lutes brand.

It is understood that Geely's new factory in Wuhan plans to invest a total of 9.044 billion yuan, which has now begun construction and will be completed by the end of 2021. After completion, it will form a multi-variety mixed-flow production capacity of 150000 passenger vehicles per year, including basic passenger vehicles (including traditional fuel vehicles and pure electric models, hybrid models) and other types of passenger vehicles. The factory Geely holding Group accounts for 71.06% of the investment, the legal representative is Geely holding Group President, Geely Automobile Group CEO, President an Conghui.

An Conghui also revealed earlier that after the acquisition of Lutes, Geely has a clear plan to revive Lutes to restore its due sales and influence.

Historically, Lutes, Ferrari and Porsche are known as the world's three major sports car brands. After several changes of hands due to poor management, Geely Li Shufu finally bought it from Malaysia's Proton Motors and became the first sports car brand under Geely Holdings Group. The acquisition of Lutes not only further expanded Geely's overseas territory and business, but also realized Li Shufu's dream of building a sports car.

Li Shufu has said Geely wants to turn Lutes into a luxury brand that competes with Porsche and Ferrari. To this end, Geely has developed a plan to restore sales and influence to Fuxing Lutes. The plan includes building factories in China to increase sales and popularity, and increasing investment to promote brand-new sports cars.

Lutes CEO Feng Qingfeng said that the start of the high-end vehicle project is an important measure of Geely Holdings Group in the global Fuxing Lutes brand. Geely will enhance Lutes'R & D and operation capabilities, consolidate and strengthen Lutes' position as a British luxury high-performance car brand.

Earlier news showed that Lutes' first domestic model may be aimed at the market launch of a luxury SUV and new energy vehicles, competing for Porsche.

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