Li Shufu, founder and chairman of Zhejiang Geely Holding Group, attends the Volvo's S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song

Li Shufu, founder and chairman of Zhejiang Geely Holding Group, attends the Volvo's S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song (Copyright Reuters 2016)

Chinese automaker Geely outlines ambitious growth goals

By Features Reuters

Chinese automaker Zhejiang Geely Holding Group Co said on Tuesday it is aiming to more than double its annual vehicle sales to two million cars globally by 2020, riding growth in its Volvo brand and its new Lynk & Co brand.

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Geely said on its official Wechat micro-blog account on Tuesday that it plans to launch more than 30 new or significantly redesigned vehicle models by 2020 and aims to become a top 10 global automaker by volume by 2020.

Buoyed by fast-selling the Geely GC9 and its crossover SUV variants, which Geely developed with engineering help from Volvo, sales of Geely cars, including those sold outside China, have been growing faster than the company forecast at the outset of this year.

(Reporting By Joe White)