By 2023, every second vehicle sold should be an electric car, the company announced on Thursday. Sales of vehicles with electric or hybrid drive had increased fourfold in the first half of the year, while sales of cars with internal combustion engines fell by 20 percent. In the second half of the year, sales of pure electric vehicles and plug-in hybrids should account for more than 30 percent of monthly sales, Geely boss Jerry Gan said.
The corona restrictions in China had previously caused the carmaker’s profit to collapse. The result of the company, which holds shares in Volvo Cars and Mercedes-Benz, fell by a third to the equivalent of 224 million euros in the first half of the year. Overall car sales fell by nine percent and, according to Geely, were below management expectations. In addition to the corona restrictions, the ongoing chip shortage played a role. Sales, on the other hand, rose by 29 percent to the equivalent of 8.4 billion euros thanks to higher prices. In the fight against the pandemic, the government in Beijing had repeatedly imposed tough lockdowns, which at times also paralyzed the economic metropolis of Shanghai.
Shanghai (Reuters)
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