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PHOTO CAPTION: Geely IG electric concept car

Geely Unveils IG Concept Car with Electric Drive Option

Geely vice-president Sun Xiaodong predicts that the company will sell 30,000 electric cars by 2016.

Published: 21-Apr-2013

Geely vice-president Sun Xiaodong has said that the company will sell 3,000 electric vehicles (EVs) next year and 10 times that number by 2016, according to a Dow Jones report. Speaking on the sidelines of an event prior to the opening of the 2013 Shanghai Motor Show, Xiadong said, "Now every car maker in China is building electric cars so Geely decided to make inroads." Geely has spent CNY1 billion (USD161 million) developing new-energy vehicles, he said. However, he warned that an insufficient number of charging stations remains a road block for electric cars.

Significance: Geely, like many EV manufacturers, is relying on government agencies and large companies to drive sales of such vehicles initially. The Chinese government is increasing its focus on low-emission technology in the wake of this year's air pollution issues in Beijing and Shanghai, where the surge in vehicle usage has been held responsible for much of the problem. In July 2012 the government outlined its long-term sales targets of 500,000 hybrid or EV cars by 2015 and 5 million by 2020. Annual production capacity of low-emission vehicles in China should reach around 2 million units by 2015. As part of this drive, vehicle manufacturers must have in place low-emission vehicle plans when seeking new factories or production lines. Zhejiang Geely Holding Group is listed as Geely Automobile Holdings Ltd and owns the Volvo car brand.

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