Zhejiang Geely Holding Group (Geely Group) has jumped 67 places on the Fortune 500 company list to rank 410 this year, its fifth year in a row to make the list.
Chinese automakers are selling large numbers of EVs at home, but so far, none has managed to crack the US or European passenger car markets. That could change before long - Auto Express reports that Geely, which owns Volvo, is rumored to be close to launching a new brand aimed at Europe, and that both EVs and hybrids are likely to be in the line-up.
Chinese carmaker Geely Automobile posted a stronger-than-expected profit growth of 35.8 per cent in the first-half on buoyant sales of new sports utility vehicle models and higher sedan sales driven by a new product lineup.
Three years ago, London Taxi Co was bankrupt and Londoners faced losing their familiar black taxicabs. But thanks to Chinese automaker Geely, the re-energized company is about to introduce a radical change on the streets of London.Geely's London Taxi unit will reintroduce the cab in the middle of next year.