On Saturday, Zhao Fuquan, vice president of the Geely Group and president of the Institute, announced at the “2011 China Auto Blue Book Forum” that after an internal adjustment, Geely decided to focus on the development of high-performance electric vehicles and plug-in hybrid vehicles. At present, Geely has obtained three production and sales licenses for pure electric vehicles. From late 2012 to early 2013, three new energy vehicles, Panda Electric Vehicle, Emgrand EC718 Plug-in Hybrid Vehicle and Geely IG Pure Electric Vehicle, will be launched successively.

Zhao Fuquan said that Geely decided to suspend the research and development of low-cost electric vehicles and fully turn to high-performance hybrid vehicles. In terms of technology, Geely has solved bottlenecks in short-haul, pure electric, and cruising range, and prices can also be accepted by ordinary consumers.

In addition, Zhao Fuquan disclosed that Geely has at least 20 years of technical reserves in terms of traditional power. After acquiring Australia's DSI automatic transmission plant last year, it will also launch a new product jointly developed by both parties in 2013.