Emerald Automotive Design Ltd and Emerald Automotive LLC (the North American division) specialise in the design, development and production of light-weight, low-emission and long-range advanced hybrid commercial vehicles. Headquartered in Brentwood, Essex, with facilities in Coventry, USA, Sweden and China, Emerald Automotive is now a wholly owned subsidiary of Zhejiang Geely Holding Group (Geely). Emerald is currently undertaking several whole vehicle design and development programmes for Geely. Emerald Automotive was acquired by Geely in February 2014 specifically to develop a complete family of commercial vehicles, utilising the lightweight structures and hybrid drivetrains developed by Emerald Automotive. The first product in development is the all-new low emission London Taxi. Emerald Automotive and Geely plan to develop a range of commercial vehicles for the Europe, China and North America. Geely are a very progressive Chinese company who uniquely acquire overseas automotive companies and invest directly to develop the brands and intellectual property for global growth. To enter the European market they bought Volvo Car Corporation in 2010 for $2.5 billion. Geely have an investment plan in Sweden for new platforms and intellectual property in excess of $10 billion, as well as new production facilities in both China and the USA. In 2013 Geely acquired the London Taxi Company and are investing over $300m to develop an all new taxi with Emerald Automotive and an all new assembly plant. Geely has total operating revenues in excess of $24 billion, with a production capability of over 1,000,000 vehicles per annum. Geely sells vehicles globally and is listed on the main board of Hong Kong Stock Exchange. The Holding Group has a large international footprint, with over 18,000 employees globally. In addition, Geely Holding Group includes globally recognisable brands such as the Volvo Car Corporation, the London Taxi Company, Kandi and Emerald Automotive.