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China is using preferential policies and brute manufacturing power to position itself at the forefront of global efforts to electrify transportation. By the end of 2017, ownership of new-energy vehicles -- a category that includes electric vehicles, plug-in hybrids and green alternatives such as fuel cell vehicles -- reached 1.8 million in China, over half the world's total. But not all of the country¡¯s EV hopefuls will make it to the finish line.
BEIJING -- Geely Automobile Holdings, long the subject of
speculation about its political ties, moved to dispel a
widely held belief its chairman's wife was related to Chinese
President Xi Jinping. The automaker, which owns a major stake in Germany's Daimler
AG, Swedish automaker Volvo and the firm that makes London black cabs, revealed
in a filing the name of Chairman Li Shufu's spouse was Li Wang,
and she jointly holds 4.9 million shares in the firm.