GUANGZHOU, China, Nov. 27, 2019 /PRNewswire/ — Chinese automaker Geely brought its state-of-the art models to the 17th China Guangzhou International Automobile Exhibition held from Nov. 22 to Dec. 1 in south China’s Guangzhou city, attracting extensive public attention.
Geely ICON, one of the models, is the group’s second B-Segment Modular Architecture (BMA)-based SUV. It showcases Geely’s avant-garde design and carries nearly 90 percent of the features shown in the Concept ICON.
Lynk & Co 01HEV, the other model, was unveiled at the exhibition last Friday. Being a high-performance hybrid SUV that costs no more than 200,000 yuan, it offers a new option for users when they purchase hybrid and energy-saving vehicles, said Lin Jie, vice president of Geely Auto Group and general manager of Geely Sales Company.
The two models are the testament to Geely’s confidence to win in the intensely competitive auto market. Geely’s forward-looking investment in technology starting years ago has empowered the group to launch new products at a rapid pace while keeping costs under control, thus enhancing its overall competitiveness, according to Lin.
The automaker invested about 21 billion yuan in R&D in 2018, accounting for 6.4 percent of the total sales revenue, with its R&D investment in the past decade totaling about 100 billion yuan. It has also set up five engineering R&D centers in China’s Hangzhou and Ningbo, as well as Gothenburg, Coventry and Frankfurt, Lin noted.
Besides, Geely has been working on the transformation from manufacturing automobiles to providing mobility travel services. For instance, it has launched Cao Cao ride hailing service to bring environmentally friendly mobility solution to the market. Currently, more than 40,000 Cao Cao electric cars are running in more than 30 cities across China.
Geely has developed into an international group engaged in the production and sales of automobile and parts as well as various businesses such as travel service, technology innovation, financial services, education, and sports, stated Lin.
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