https://www.scmp.com/rss/524011/feed Li Shufu is the visionary founder and chairman of Geely Holding Group, which he established in 1986, diversifying into automotive manufacturing from 1997. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Themis Qi Themis Qi The energy shock stemming from the Middle Eastern conflict may help Chinese electric-vehicle (EV) makers exceed their overseas expansion goals this year, according to analysts. “High oil prices – and even gasoline shortages in some countries – will accelerate the pace of China’s EV exports,” said Yale Zhang, managing director at the consultancy Automotive Foresight in Shanghai. “This oil crisis presents a historic opportunity for China’s EV industry, just as the oil crisis of the 1970s paved the... https://www.scmp.com/business/china-evs/article/3348561/middle-east-oil-shock-jolts-ev-demand-putting-chinese-exports-fast-lane?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348561/middle-east-oil-shock-jolts-ev-demand-putting-chinese-exports-fast-lane?utm_source=rss_feed Tue, 31 Mar 2026 23:30:08 +0000 Daniel Ren,Cheryl Arcibal Daniel Ren,Cheryl Arcibal China’s electric vehicle (EV) king BYD posted its first annual profit drop in four years as it faced intensifying competition from domestic rivals in a cutthroat market. The Shenzhen-based company reported a net profit of 32.6 billion yuan (US$4.72 billion) for 2025, down 18.97 per cent from a year earlier, according to a filing to the Hong Kong and Shenzhen stock exchanges. That missed a consensus forecast of 35.4 billion yuan in a Bloomberg survey of analysts. Revenue grew 3.46 per cent to... https://www.scmp.com/business/china-business/article/3348207/byds-four-year-profit-run-ends-eyes-global-markets-next-engine-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348207/byds-four-year-profit-run-ends-eyes-global-markets-next-engine-growth?utm_source=rss_feed Fri, 27 Mar 2026 14:00:12 +0000 Daniel Ren Daniel Ren Chinese carmakers, saddled with excess capacity and weak demand at home, are taking a new approach to global expansion: utilising idled facilities abandoned by international marques. By adopting an asset-light strategy, companies from Geely Auto to Great Wall Motor (GWM) can assemble their cars overseas at lower costs, broadening their influence on the global automotive sector, according to analysts. “Mindful of profitability as well as geopolitical and operating risks, Chinese carmakers are... https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed Sun, 15 Mar 2026 12:00:07 +0000 Daniel Ren Daniel Ren Geely Auto has gained the upper hand in mainland China’s intensifying automotive sector, as its diverse product line-up pays off after electric vehicle (EV) king BYD suffered a setback following partial withdrawal of a tax break. Controlled by Chinese billionaire Li Shufu, Geely overtook BYD in sales during the first two months of the year because of its vehicles’ quality and reliability, even as Beijing intensified efforts to curb price competition among carmakers, according to... https://www.scmp.com/business/china-evs/article/3346089/geely-auto-beats-byd-sales-first-2-months-2026-become-chinas-top-carmaker?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346089/geely-auto-beats-byd-sales-first-2-months-2026-become-chinas-top-carmaker?utm_source=rss_feed Wed, 11 Mar 2026 08:00:10 +0000 Yulu Ao Yulu Ao The founder and chairman of Contemporary Amperex Technology Ltd (CATL) said his company plans to ramp up the use of artificial intelligence in research and take Chinese battery technology and standards further overseas, as the battery giant maps the next phase of growth. The world’s largest maker of electric vehicle (EV) batteries would step up research and development (R&D) spending and apply more AI methods to strengthen its technological edge, said billionaire Robin Zeng Yuqun at a briefing... https://www.scmp.com/business/china-business/article/3345432/chinas-ev-battery-leader-catl-step-use-ai-rd-founder-and-chairman-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345432/chinas-ev-battery-leader-catl-step-use-ai-rd-founder-and-chairman-says?utm_source=rss_feed Wed, 04 Mar 2026 10:33:14 +0000 Daniel Ren Daniel Ren Geely Auto, mainland China’s second-largest carmaker by sales, has doubled down on its push to improve vehicle reliability by launching a 2 billion yuan (US$283.5 million) facility for safety tests, bucking the trend of price competition in the world’s largest automotive market. The centre, the world’s largest of its kind, reflected Geely’s determination to prioritise safety as it resisted offering discounts amid a brutal price war, according to Jerry Gan Jiayue, CEO of the firm’s passenger car... https://www.scmp.com/business/china-business/article/3336368/chinas-geely-auto-raises-bar-car-safety-worlds-largest-test-hub-amid-price-war?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3336368/chinas-geely-auto-raises-bar-car-safety-worlds-largest-test-hub-amid-price-war?utm_source=rss_feed Mon, 15 Dec 2025 00:30:09 +0000 SCMP SCMP We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Can China forge an offshore economic empire? EV producers are feeling the way The electric vehicle (EV) industry, formerly one of China’s most inward-focused industrial sectors, is now leading a push overseas, carrying the government’s hopes of forging an offshore economic empire to... https://www.scmp.com/business/china-evs/article/3322482/chinas-ev-industry-expands-going-global-strategy-latest-tesla-model-3-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3322482/chinas-ev-industry-expands-going-global-strategy-latest-tesla-model-3-7-ev-reads?utm_source=rss_feed Wed, 20 Aug 2025 07:01:03 +0000 Daniel Ren Daniel Ren Geely Auto, mainland China’s second-largest carmaker, reported a 14 per cent drop in first-half profit even as revenue surged on sales of electric vehicles (EVs) to budget-conscious consumers aided by heavy discounts. Profit for the January to June period came in at 9.3 billion yuan (US$1.3 billion) versus 10.8 billion yuan a year earlier based on international accounting standards, according to a filing to the Hong Kong stock exchange on Thursday. The profit exceeded the 7.6 billion yuan... https://www.scmp.com/business/china-business/article/3321868/chinese-tycoon-li-shufus-geely-auto-posts-first-half-profit-decline-beats-estimates?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3321868/chinese-tycoon-li-shufus-geely-auto-posts-first-half-profit-decline-beats-estimates?utm_source=rss_feed Thu, 14 Aug 2025 10:00:45 +0000