A move to further boost EV efforts.
Geely's new energy business entity reportedly will concentrate energy and resources on development of new energy vehicle business, according to local media.
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Meanwhile, it is reported that Geely has appointed Zheng Zhuang as deputy general manager of Geely Auto Group's domestic sales company and general manager of Geely New Energy Sales Company to support its new energy business. Besides, Li Jie has been named as vice president of Geely Auto Group, taking charge of the marketing of Geely, Lynk & Co and Geely New Energy brands, and Song Jun has been appointed as deputy general manager of Geely Auto Group's domestic sales company and general manager of the sales company for Geely brand.
Geely is attaching increasingly more importance on its new energy business. In November 2015, Geely Auto Group announced its ambitious new energy initiative dubbed Blue Geely, which was planned to make Geely move from highlighting traditional combustion engine technologies to focusing to new energy vehicle (NEV) sales and development. To make 90% of Geely Auto sales consist of NEV sales by 2020, one of the targets for the Blue Geely initiative, the automaker intends to roll out over 30 NEV and energy-saving models in the next three years.
In 2018, which is regarded by Geely as its "first year to entirely usher in the NEV era", the automaker launched three NEV models—the new Emgrand, the Borui GE PHEV and the Geely Emgrand GSe. Last month, it struck a deal with the power battery maker CATL to form a joint venture focusing on the R&D of EV power battery.