Geely Auto Plans to Double European Vehicle Projects

Geely Auto Group announced on Thursday that its European technology hub plans to double the number of vehicle projects it manages by next year. This strategic expansion is part of an intensified effort by the carmaker from China to compete more effectively within the European region. Since last year, the group has focused on streamlining its various brands and engineering operations to reduce costs, as aggressive price competition continues to impact profit margins in the Chinese electric vehicle market.