Chinese multinational automotive company, Geely plans to increase the heir electric vehicle sales up to 50%. The result of their financial report was revealed this 2022 and vehicle maker has a steep overall EV sales target for 2023.
According to the report, the availability of chips decreases while the cost of raw materials increases during the Corona pandemic. The result shows that their sales drop by 9% in the 1st half of the year.
70% of these electric models were purely battery-electric models (BEV), 20% were plug-in hybrids (PHEV) and less than 10% were hybrids. “By the second half of the year, sales of all-electric vehicles and plug-in hybrids should be more than 30% of the total sales,” said Geely’s chief executive Jerry Gan.
Overseas markets contributed to 14.3% of the company’s total sales, but its share increases by 64%. Geely aims to raise the overseas market sales percentage to 20% by 2025.
In European operation, a total of 10,912 units have been delivered causing an increase of 3,986 percent.
On the other hand, Geely’s partner in Malaysia, Proton, is also increasing in expansion overseas. The brand focuses more on Asian markets like Thailand and Vietnam.
Meanwhile, Geely will continue to offer its products and focus on increasing its exports of electric, hybrid, and other technologies.
