March 2, 2020 / 11:39 AM / a month ago

China's Geely sold 2.18 million units in 2019, helping virus-hit suppliers

FILE PHOTO: The emblem of the Geely automobile maker logo is seen at the IEEV New Energy Vehicles Exhibition in Beijing, China October 18, 2018. REUTERS/Thomas Peter

BEIJING (Reuters) - Chinese automaker Zhejiang Geely Holding Group [GEELY.UL] sold 2.18 million units in 2019 and has set up a fund to support efforts to combat the coronavirus outbreak, Chairman Li Shufu said on Monday.

The group’s revenue reached 320 billion yuan ($45.97 billion) in 2019, Li said, according to a post on the group’s wechat account.

The company, which has invested in German luxury automaker Daimler (DAIGn.DE), Swedish Volvo and Malaysian Proton, invested 20 billion yuan in research and development last year, Li said.

Geely has set up a 200 million yuan fund to support the fight against a coronavirus epidemic which has killed more than 2,900 people in China. It is helping its car parts suppliers and dealers resume work and production, Li added.

Reporting by Yilei Sun and Brenda Goh; Editing by Edmund Blair

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