Geely and Renault Invest $368M in Brazil Venture to Compete with BYD
Renault and Geely invest €319M in Brazil, totaling €899M by 2027 for new energy vehicle production and expansion.
Latest in EV news, technologies, data and insights from China market
Renault and Geely invest €319M in Brazil, totaling €899M by 2027 for new energy vehicle production and expansion.
Geely Galaxy Cruiser 700 pre-orders opened with six variants priced from RMB 199,800 to RMB 389,800, targeting new energy off-road SUVs.
Global electric vehicle sales reached 1.83 million in August, with divergent regional trends impacting growth, notably in China, Europe, and North America.
Geely launched the Galaxy TT, an electric sport sedan, on September 10, with orders exceeding 10,000 within 15 minutes of release.
All 10 of China’s best-selling passenger car models by retail sales in August were battery-electric vehicles (BEVs), with no ICE…
Geely will acquire a 34% stake in Ford España, reducing Ford’s stake to 66%, establishing joint control set for 2027 operations.
China’s new-energy vehicle market was subdued in August, yet key brands like BYD and XPeng experienced notable growth amid cautious conditions.
Geely Group sold 270,194 vehicles in August, up 8%. Exports exceeded 110,000, up 205%, while new energy vehicles made up 65.1% of sales.
Global vehicle sales rose 5% in July 2023, led by emerging markets, despite declines in China and the US.
Chinese automakers are increasingly localizing vehicle production in Europe, with expected output reaching 1 million units by 2030, amid rising sales.