16-Aug-18, Bloomberg

Geely Automobile surpassed its top three Japanese rivals to become the third-largest carmaker in China, helped by models that appeal to the nation’s young consumers.

Geely beats Nissan Honda and Toyota in China (c) Andrey Rudakov Bloomberg

Image: Andrey Rudakov / Bloomberg

Reporting a 54 percent jump in net income for the six months through Jun-18, the carmaker said that sales will beat its target of 1.58 mn units. Geely now trails only Volkswagen and General Motors in China, after overtaking Nissan, Honda and Toyota.

Controlled by billionaire Li Shufu, Geely is among Chinese carmakers seeking to dominate the auto industry as newer technologies such as electrification and automation define the future of transportation.

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