Geely Auto profits sank by 43 per cent in the first half as the pandemic pushed the ambitious Chinese carmaker to slash its sales target for the year.
The company, the listed division of the Geely Holding group, which owns Volvo Cars, is a near 10 per cent shareholder in Daimler and has aspirations to be China’s first truly global carmaker — weathered the early months of coronavirus better than many of its domestic competitors.
But the slow pace of recovery in the world’s largest car market is now putting pressure on sales.
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