Source: China – South China Morning PostGeely Auto, the mainland’s second-largest carmaker, will not build new plants amid excess capacity worldwide, a move that is likely to ripple across the sector as most Chinese companies are finding it difficult to make profits.
Chairman Li Shufu told the Chongqing Auto Show over the weekend that the company would avoid building excess capacity and instead focus on improving its technological capabilities to become a key player in the future of mobility.
“The global automotive industry is mired…Read More