Geely Automobile Holdings, a China automaker controlled by billionaire Li Shufu, said on Thursday sales rebounded by 26% in June from a year earlier after the Covid lockdowns disrupted earlier this year.
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Bright spots in June came from electric vehicles and exports. Total EV sales topped 32,000 compared with only 6,016 a year earlier. Total exports in June rose by 224% from a year earlier to 22,852. China is the world’s largest auto market, and Li – also known as Eric Li — is the country’s second-richest auto industry entrepreneur with a fortune worth $26.4 billion on the Forbes Billionaire List today.
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