Geely is not going to abandon the use of internal combustion engines in its cars

A few years ago, in the wake of enthusiasm for the electrification of transport, many automakers began setting deadlines for phasing out internal combustion engines (ICEs), and Chinese market leader BYD has stopped producing fossil-fuel-only cars. Rival Geely says there will be a place for ICE models in the market for a long time to come.

Image source: Geely Automobile

As Nikkei Asian Review explains, Geely Automobile CEO Gui Shengyue said the following: “We believe that ICE and gasoline will definitely continue to exist for a long time. I believe that in two or three years, China will reach parity between fuel-powered and electric vehicles, because the impact of subsidies on new vehicles will have worn off by then, and the methods for assessing the capitalization of automakers will have changed.” Geely will not only not abandon the use of ICE, but will also develop this type of power plant.

Geely will also focus on promoting its products outside of China in the near future. It intends to become the leading supplier of passenger vehicles from China in the Middle East, and to be among the top three in Europe and Eastern Europe. Hybrids and electric vehicles of its brands will be promoted more actively in the Asia-Pacific region, Latin America and Africa.

The small and relatively young XPeng also announced its international ambitions this week. By 2034, it plans to increase the proportion of export deliveries to half of all production volumes of its electric vehicles. This year, the volume of exports will double to 40,000 cars, and the number of XPeng sales and service points around the world will exceed 300 units. In the second half of this year, XPeng’s first overseas car assembly plant will begin operations in Indonesia.