Geely Establishes Another New Energy Company in Xi’an

PVTIME – On August 23, Chinese automobile manufacturer Geely announced it has established a new energy company named Xi’an Rongsheng New Energy Co., Ltd.

With Li Bin as its legal representative, the new company’s business scope includes power generation business, power transmission business, power supply (distribution) business, and power supply business. The registered capital of the new company is 65 million yuan.

In February of this year, Geely also established Zhejiang Haohan Energy Technology Co., Ltd. with a registered capital of 30 million yuan. The business scope of Zhejiang Haohan Energy Technology includes the operation of electric vehicle charging infrastructure; sales of photovoltaic equipment and components; solar power generation technical services, Internet information services, etc.

According to Geely’s financial report for the first half of 2021, Geely achieved revenue of RMB 45 billion, a year-on-year increase of 22%, and profit attributable to shareholders deducting share-based payments was RMB 3.02 billion, a year-on-year increase of 31%. The company’s profit attributable to shareholders was 2.38 billion yuan, and its net profit was 2.41 billion yuan, a year-on-year increase of 4%.

In addition to Geely, leading auto companies such as Tesla, BYD, and General Motors have also begun to establish a foothold in the photovoltaic industry.