Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

But the job is not done yet!
Vote for the deserving candidate this year.

Check your mail to know more

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
SPONSORED BY
»
1-min read

China's Geely Launches New Premium All-Electric Car Brand

Geely, China's highest-profile car maker with investments in Volvo and Daimler, launched a premium all-electric car brand 'Geometry' as it pushes ahead with its plans to boost production of new energy vehicles.

Reuters

Updated:April 13, 2019, 1:51 PM IST
facebookTwittergoogleskypewhatsapp
China's Geely Launches New Premium All-Electric Car Brand
Geely Auto Group launches the Geometry A sedan. (Image: AFP Relaxnews)
Loading...
Geely, China's highest-profile car maker with investments in Volvo and Daimler, launched a premium all-electric car brand "Geometry" as it pushes ahead with its plans to boost production of new energy vehicles.

The move comes as automakers race to develop vehicles powered by means other than petrol to meet an expected rise in demand as the world's top car market enforces official production quotas designed to reduce smog.

Geometry will take overseas orders but will mainly focus on the Chinese market and will launch more than 10 pure electric models in multiple segments by 2025, Geely said in a statement.

The company added it had already received more than 26,000 orders globally for its first model, the Geometry A.

The longer-range version of the model has an ability to travel up to 500 kilometres (310.69 miles) on a single charge, Geely said.

Geely launched Geometry at an event in Singapore and said the city-state would eventually become a target market.

"The launch of Geometry and its first product advances Geely's strategic goal of becoming one of world top 10 automotive groups," An Conghui, president of Zhejiang Geely Holding Group, said in the statement.

Geely set up a new joint venture with Germany's Daimler just last month to build the next generation of Smart electric cars in China. Smart is Daimler's small-car brand.

Geely is also developing new energy commercial vehicles like pickup trucks at another unit, Yuan Cheng Auto.

China has been a keen supporter of new energy vehicles (NEV) including pure battery electric, hybrid, and plug-in hybrid technologies, and started implementing NEV sales quota requirements for automakers.

According to a Reuters report, global automakers are planning a $300 billion surge in spending on electric vehicle technology over the next five to 10 years, with nearly half of the money targeted at China.

Geely posted sales growth of 20 percent in 2018. However, it is forecasting largely steady sales this year as the country's giant auto market struggles with slowing economic growth and more cautious consumers. Last year, the overall market contracted for the first time since the 1990s.

The Chinese carmaker bought Volvo Cars in 2010 from Ford Motor Co in what was China's biggest acquisition of a foreign car maker at the time.
| Edited by: Abhinav Jakhar
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
T&C Apply. ARN EU/04/19/13626
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results