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Geely frequently promotes alternative energy industrial chain, and may compete with BYD

Biwen Wang From Gasgoo.com| September 01 , 2016 19:45 BJT

Gasgoo.com (Shanghai September 1st)–Geely sells 280,337 units vehicles in the first half of 2016, increasing 11% with the same period of last year and receiving revenues with RMB 18.09b. “Emgrand EV”, which was launched in November, 2015, has a shining monthly sales volume of 1,500 units in the first half of year.

Last November, Geely Group launched a five-year-period alternative energy vehicle strategy named “Blue Geely Activity”, making use of CEVT (China Europe Vehicle Technologies) and Volvo’s alternative energy vehicle technology, as well as speeding up the R&D and launching of BEV, PHEV and Hybrid models.

“To achieve customers’ dream of buying PHEVs at the cost of traditional vehicles,” according to “Blue Geely Activity” Strategy, sales volume of alternative energy vehicles will account for more than 90% of Geely’s total by 2020, in which PHEV and oil-electric hybrid vehicles account for 65% and BEV accounts for 35%.

Geely said that, based on the continuing R&D inputs in new technologies during the past years, its products possess extraordinary environmental-protection and energy-saving performance, and will replace old models with boutique new models soon.

In fact, Geely frequently promotes energy-saving and alternative energy vehicles in 2016, with more newly constructed projects going into operation.

On February 28th, CHS Assembly Industrialization Project, with an annual capacity of 1m units, co-invested by Geely and Corun, went into operation in Changsha. Its initial investment was RMB 3.69b. The designing capacity is 300,000 units, and will be put into operation in 2017. The project fully covers a range of models including EV, HEV, PHEV and suits for passenger vehicles, SUV and buses.

On April 14th, Geely Zhejiang Hengyuan Alternative energy power battery assembly project launched in Jinhua, with a planned investment of RMB 2.05b and annual capacity of 1.5m KWh. On April 18th, Geely alternative energy SUV project started in Xiangtan, Hunan, and will be completed at the end of 2017. The total investment was RMB 3.5b and capacity will be 300,000 units. On April 29th, middle-and-high-class passenger vehicle project, with a total investment of RMB 13b from Geely Auto Group, started in Ningbo. The total capacity is 300,000 units and will be launched in 2018.

Apart from actively promoting key alternative energy parts industrial chain and passenger vehicle product line, Geely also invested in the production of electric buses and made progress earlier.

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