Geely raises annual export target on eve of European punitive tariffs

HONG KONG -- Geely Automobile Holdings raised its annual export target for the year, just as the European Union prepares to slap extra punitive tariffs on Chinese electric vehicles this week.

Gan Jiayue, director of the Hong Kong-listed automaker, said on Tuesday the company upgraded its full-year export target to 380,000 units from 300,000, which was set at the beginning of the year. During an online conference call for reporters and analysts, he said the increase comes mainly from demand in the Middle East, Africa and Southeast Asia.