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Mar 20, 2024 - 17:07
By asia.nikkei.com

China auto price war is 'normal' for growth, Geely says after posting profit

HONG KONG -- China's Geely Automobile Holdings on Wednesday reported solid results for 2023, shrugging off the fierce price competition in the world's largest auto market.

An Conghui, a Geely Automobile executive and the president of its parent Zhejiang Geely Holding Group, told reporters that the deep discount by Chinese auto brands are "normal" and a "necessary process for any industry to undergo for progress and development."