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China NEV Sales Drop in July After 80% Jump in June

China NEV Sales Drop in July After 80% Jump in June

The world’s largest market for electric vehicles, China, saw sales of its “new energy vehicles,” or NEVs, fall 4.7% compared with year-ago results — the first drop in more than two years. The China Associations of Automobile Manufacturers (CAAM) reported the results...
Chinese EV Sales Defy Overall Market Slump

Chinese EV Sales Defy Overall Market Slump

It’s been a busy week for automotive dealmakers in China. Both Renault and Toyota have lined up new joint ventures that will allow them to significantly expand their production in battery-electric vehicles in what is now the world’s largest market for BEVs. And...
China Car Sales Tumble for 10th Consecutive Month

China Car Sales Tumble for 10th Consecutive Month

For much of the past two decades, China’s new vehicle market was the envy of the world, with routine double-digit annual growth approaching triple-digit gains on several occasions – but the numbers were down 14.6% in April, marking the 10th consecutive monthly...
Geely Gets Smart with Daimler

Geely Gets Smart with Daimler

Just as Daimler AG’s Smart division appeared to be on the outs with the support of Ola Kallenius, the incoming chairman and CEO, the company’s largest shareholder, Geely, swooped in and saved the oft-near death quirky brand. In recent weeks, its been reported...
Lotus to Build Cars in China

Lotus to Build Cars in China

Geely Holding’s acquisition of a majority stake in Lotus in 2017 virtually assured the oft-troubled sports car company would survive well into the future, and at some point, some of its cars would be produced in China. Well, the future is now. Lotus’s Chinese parent...
Geely Chief Denies Family Ties to China’s President

Geely Chief Denies Family Ties to China’s President

Geely Automobile Holdings Ltd has moved to end speculation that its entrepreneurial chairman, Li Shufu, has benefited from political ties to China’s President for life, Xi Jinping. Li Shufu, who is increasingly active in the global automotive industry, has moved...
Volvo Backs Out of IPO Due to Trade and Market Conditions

Volvo Backs Out of IPO Due to Trade and Market Conditions

President Donald Trump’s seemingly ongoing trade war with, well, everyone as well as a less-than-robust period for auto stocks has forced Volvo Cars to put off its initial public offering — for now, anyway. Volvo Cars, which is owned by China-based Geely, previously...
Geely Sales in China Growing Fast

Geely Sales in China Growing Fast

Geely Automobile Holdings Ltd., which is rapidly emerging as one of China’s top automotive companies, saw its sales increase by 44% in its home market during the first half of 2018, the company reported. The company reported that it sold 766,630 vehicles between...
Geely Readying to Plow $1.9B into Lotus Expansion

Geely Readying to Plow $1.9B into Lotus Expansion

Geely appears ready to expand its sphere of influence once again. The parent company of Volvo and major shareholder of Daimler AG is rumored to be examining the viability of putting $1.9 billion into sports car maker Lotus. Holding 51% of the ownership stake, Geely is...