Geely Doubles Down on EVs, Exports After Disappointing Earnings

Geely’s net income dropped 35% to 1.55 billion yuan ($228 million) in the six months ended June 30 from a year earlier.

(Bloomberg) — China’s Geely Automobile Holdings Ltd. plans to double down on selling electric vehicles and exporting autos following disappointing first-half earnings amid Covid lockdowns and supply chain snarls.

Shipments of new-energy vehicles will account for more than 30% of sales by the end of this year and will further expand in 2023, Group Chief Executive Gan Jiayue said Thursday in a media briefing.

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