At the signing ceremony, Geely presented its compact, fully electric model Geometry C, which will be the first model introduced in Hungary, probably from next spring.

GACE estimated the price of the vehicle at Ft 15-20 million.

The distributor is planning to sell 1,000 Geometry C models in Hungary in 2024, in the first full year of sales. Delivery will take four to six months.

Geely, founded in 1986, has been producing cars since 1997. It sold more than 2.2 million cars last year, and is expected to sell 2.5 million this year.

The company, which employs 80,000 workers worldwide, bought the Swedish car maker Volvo from Ford in 2010.