Geely Plans to Set Up New Electric Vehicle Entity Company

According to the report of niuche.com on February 20, Geely Auto, who has always been focusing on the traditional vehicle business, will set up a new subsidiary to explore the electric vehicle market. It is reported that the new electric vehicle company will exist as an independent entity and will research and upgrade sea-related technologies, but this is still in weighing.

Jie Lin, the vice president of the company, disclosed the new marketing and sales paths of the company's electric products, which are consistent with this adjustment. Also, the sales team of the new company plans to set exhibitions in the main cities of China.

According to the sales data, in 2020, Geely sold 1.32 million vehicles, down 3% year-on-year. The total sales volume of new energy vehicles was 68,000, down 40% year-on-year.