Source: China – South China Morning PostGeely Automobile Group, China’s largest private carmaker, has earmarked one of its biggest research spending budgets to drive itself towards a 2025 electrification target, where four in 10 vehicles delivered will be powered fully, or partially, by electric battery packs.The carmaker, based in the Zhejiang provincial capital of Hangzhou, will set aside 150 billion yuan (US$24.3 billion) into research and development over the next few years, with the ultimate goal of developing so-called L5…Read More