Geely Holding reported H1 2026 revenue of 173.6B RMB, up 28% YoY, with core net profit up 46%. The group announced it will stop all pure ICE vehicle R&D.
2361 day ago
China's Ministry of Industry and Information Technology recently released a draft proposal suggesting a potential ban on fossil-fuel vehicle sales after 2035. In May 2026, China's NEV penetration rate surpassed 62.5%. Major automakers including BYD, Changan, Great Wall, and Geely have all committed to halting pure ICE vehicle sales by 2025. Gas station numbers have declined for three consecutive years, and used ICE vehicle residual value dropped from 65% to 52%.
35385 days ago
EX1000
