SHANGHAI (Reuters) – China’s Geely Automobile Holdings Ltd said on Wednesday its 2021 net profit fell 12%, as auto sales in the world’s biggest market were hit by the coronavirus pandemic and chip shortages.
Geely Automobile, the world’s highest-profile Chinese automaker, thanks to investments in Volvo Cars and Daimler AG, posted 2021 profit of 4.85 billion yuan ($761.64 million), versus 5.53 billion in 2020.
($1=6.3678 Chinese yuan renminbi)
(Reporting by Brenda Goh)
