For Cars, Geely Still Can’t Break With the Conventional, Chairman Says

What’s new: Chinese auto giant Zhejiang Geely Holding Group Co. Ltd. won’t give up making fossil-fuel powered vehicles despite a gradual shift toward electric cars, said company chairman Li Shufu.

In a CCTV program aired on Saturday, the billionaire entrepreneur said he is optimistic about the prospects for fossil-fuel cars, as they will remain the preferred choice for most new buyers in the foreseeable future irrespective of the rising popularity of new-energy vehicles (NEVs).