Liu Jinliang, Vice President of Geely Holdings Group said "We have production bases in the north, east and south of China. When we finish our production network, our efficiency and market penetration will be improved, cutting our operational costs and increasing profit margins."
Chinese automakers say the time has come for homegrown brands to move from low-end competition to high-quality and high-tech products, seizing domestic market shares from international brands. Instead of producing a series of old models and selling them at low prices, Chinese carmakers are focusing on a few new models to hit the middle- and high-end market.
Carmakers say brand development requires years of efforts. Chinese cars used to account for a third of the domestic market. Carmakers' first target is now to win back that market from international competitors.
