Geely cars

Geely cars

Geely Automobile announced a plan of switching to New Energy Cars.

By 2020, the Chinese company intends to equip more than 90% of models with alternative powertrains (like hybrid or plug-in hybrid or all-electric).

The bold move is a consequence of government's requirement to improve average fuel economy to 5 liters/100 km by 2020, and also the current incentives to sell plug-ins.

About two-thirds of models will be HEV or PHEV, while the rest (90%-66% = 24%) are to be all-electric.

There could be also some hydrogen fuel cell cars in the mix, although we doubt any volume of significance.

Source: Bloomberg