Manufacturing News

Geely to raise China sales target as latest models top projections

Geely Automobile Holdings plans to raise its full-year target for global vehicle sales after demand for new models exceeded company projections.

Geely Automobile Holdings plans to raise its full-year target for global vehicle sales after demand for new models exceeded company projections.

"We will definitely surpass our annual sales target," CEO Gui Shengyue said in an interview Tuesday.

The company previously said it aims to sell 450,000 vehicles this year, compared with sales of 417,851 units in 2014. Geely deliveries have risen 41 percent in the five months of this year, faster than the industry's 6.4 percent gain.

Gui did not disclose the company's new sales target, but added: "All the models we added since last year turned out to be great successes. It's the first time we had so many hits at the same time."

Geely plans to add a new SUV late this year or early next year. Gui said the company also plans to roll out its New Emgrand electric car in August.

The EV is adapted from Geely's top-selling gasoline model, the Xindihao compact car. It is powered by lithium ion batteries and has a range of 260 km and can reach a maximum speed of 150 km per hour. A full recharge of the vehicle's battery pack will take 12 hours.

Details of the new SUV have not been released.

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