The Ukrainian National Agency for the Prevention of Corruption (NAZK) included the Chinese automobile company Zhejiang Geely Holding Group Co., Ltd, known as Geely, in the list of international sponsors of war. This was announced on the NAZK website.
“Geely continues to pay taxes to the budget of Russia, actively support its economy and, accordingly, sponsor aggression against Ukraine at a time when most car manufacturers from Europe, Japan and Korea stopped selling on the Russian market after the invasion of Ukraine,” it is said in the statement.
The company is owned by Chinese billionaire Li Shufu and is ranked 229th in the Fortune Global 500 list of the world’s largest companies for 2022. Zhejiang Geely Holding Group Co. owns such well-known brands as: Geely Auto, Lynk & Co, Zeekr, Volvo Cars, Polestar, Lotus, London Electric Vehicle Company, Farizon Auto, CAOCAO Mobility.
The head of Chinese car conglomerate Geely has backed the Geely car brand’s decision to increase car sales in Russia after global rivals pulled out of the market following Russia’s invasion of Ukraine.
Daniel Li, the executive director of the Geely holding company, said that he did not want to tell his companies to leave the Russian market. “I absolutely do not understand why we have to force every one of our car brands to punish the Russian customer,” he said, speaking at the FT’s Future of the Car Summit.
Sales of Geely-branded cars in Russia in the first three months of 2023 more than doubled compared to last year, from 5,543 units to 12,673 units.
There were no attempts by the company’s management to condemn Russia’s war against Ukraine.