BIZCHINA / Biz Media Digest

Auto: Geely's strategy change

(Shanghai Daily)
Updated: 2007-03-08 14:33

Geely Automobile Holdings Ltd, China's biggest privately owned car maker, plans to sell larger and more expensive cars by 2010 to tap the country's growing wealth.

Geely, whose compact cars sell for as little as US$5,000 each, may produce 3-liter engine vehicles, selling them for between 200,000 yuan (US$25,840) and 300,000 yuan, said Li Shufu, chairman of the auto maker's parent.

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