Geely received $400 million for «green transformation»

Geely received $400 million for «green transformation» 1

Geely has become the first Chinese automaker to receive a loan from an international syndicate of foreign banks – the funds will be used to accelerate the “green transformation” and achieve carbon neutrality by 2045. The loan amounted to $400 million, which the company will invest in research and development in the field of new energy technologies and the creation of eco-friendly cars. In addition, Geely is upgrading its production facilities.

According to the strategy of the Chinese holding, by 2025 Geely will produce only cars, and the volume of harmful emissions of which over the entire life cycle will be reduced by a quarter. The company’s course towards carbon neutrality is already yielding results: for example, in July, cars with alternative energy sources (NEV or New Energy Vehicles) accounted for more than a quarter of total sales (more than 140 thousand copies), which became a record for the automaker.

In the first half of this year, the company released several new models, including hybrids Geely Xingyue L and Emgrand L Hi-P, as well as Lynk & Co 01 EM-F, electric vehicles Geometry E and Zeekr 001, as well as the methanol hybrid Emgrand Methanol Hybrid.

In China, the 001 model is already on sale and costs 386 thousand yuan for the simplest modification with one 272-power electric motor and an 86-kilowatt-hour battery.