U.K.-based Emerald Automotive Partners announced last week that it has been acquired by Zhejiang Geely Holding Group, a Chinese automotive giant. The acquisition is not expected to affect Emerald’s plan to build its assembly hub in Hazelwood.
Hazelwood has been negotiating with Emerald since 2011 for the deal. The new factory is to produce the low-emission t-0001, a hybrid electric van. Hazelwood and Missouri Technology Corporation loaned Emerald $3 million and $2 million, respectively.
Emerald plans to create 200 jobs and produce 4,000 vans in Hazelwood by 2018.