Chinese Brand Geely Face Chip Shortage, but Sales Remain Unaffected So Far

China’s Geely Automobile Holdings Ltd., a Chinese brand, managed to hit its sales target for the year. They bet that their new vehicle’s launch would offset the temporary problem caused by a shortage of a chip and the reappearance of coronavirus cases.

Impressive Sales Record

Due to the upbeat forecast and impressive revenue growth in the first half itself, the company’s shares have gone up by 4%. A Geely spokesperson said that the chip shortage and the rise in coronavirus cases are posing a serious threat to the company’s performance in the coming months. However, the pending launch of newer vehicles means that the brand should be able to perform well in the second half as well. Geely has maintained its yearly target of 1.53 million sales.

The Reason Behind the Success

Geely and Lynk & Co are a joint venture along with Volvo as well as the electric vehicle companies Geometry and Zeekr. Together, the annual sales are estimated to reach 3.65 million vehicles by 2025. Over 30% of these sales are said to come from electrified vehicles. The company posted that recorded a 22% increase in their revenue in six months to the tune of 45 billion yuan which is $6.94 billion. The reason behind this success was a good product mix.

Over 90% of the brand’s vehicles are bought in China. However, the brand has been trying to increase its exports recently and focusing on countries in Europe and Southeast Asia. Their net profit increased only by 4%, which is about 2.38 billion yuan. This was because of the share-based payments to the tune of 641 million yuan.

The Parent Company

Geely’s parent company, Zhejiang Geely Holding Group created Zeekr in order to capture the EV market which is highly competitive at the moment. This company also has its stakes in the Daimler AG and Volvo Cars. Geely claimed that it aims to seek funding from external sources to introduce newer electric models under Zeekr.

Four Gadgets That Will Help You Get Through Quarantine

The global pandemic is the only thing that’s been on our minds lately. We’re all cooped up at home, missing our family and friends. Self-isolation or quarantine – call it whatever you’d like – isn’t easy, and you’re probably thinking: “What the heck am I going to do at home all this time? The good news is, we’re all in the same boat.

With that in mind, we’ve gathered the top four gadgets that will help you get through self-isolation.

1. Amazon Echo Dot (3rd Gen) Smart Speaker

This gadget will help communicate between rooms easily, especially if someone needs to be quarantined away in the house. The Amazon Echo Dot is small, mighty and it has a very powerful sound system inside. You can even control Alexa with just your voice. Plus it can connect to other smart devices in your home.

Four Gadgets That Will Help You Get Through Self Isolation

2. PhoneSoap 3 UV Phone Sanitizer

If you’re going out into the world, think about the filthy viruses and bacteria that are sticking to your phone. The PhoneSoap 3 UV Phone Sanitizer is perfect for cleaning your phone because you don’t want whatever that nasty thing picked up on your face or on your hands. This gadget is using UV lights that can kill up to 99% of bacteria and it keeps the battery charged.

3. Perfect Drink Pro Smart Cocktail Scale

We all know you’re missing those after-work drinks with your colleagues. The Perfect Drink Pro Smart Cocktail Scale gadget will make you a professional bartender, within 400 recipes available, you can use the kitchen scale with its companion app for the ultimate cocktail mix.

Four Gadgets That Will Help You Get Through Self Isolation

4. EdgeCross X Intense Home Workout System

There’s no way you’re going to step into a gym during a pandemic, so this incredible workout gear will give you everything you get at the gym at home. With a ten-minute workout program, you’re already going to feel your core and your glutes burning. Plus, you’re going to get a sturdy mat that will keep you balanced. Stay healthy and safe!

Four Gadgets That Will Help You Get Through Self Isolation