Geely becomes China's top automobile exporter

Zhejiang Geely Holding Group became China's largest vehicle exporter in July for the first time ever, as its exports continued to see a strong uptrend, despite the overall sector reporting a year-on-year drop in exports for three consecutive months.

The Hangzhou-based company, which became famous globally after acquiring Swedish automaker Volvo Car Corp in 2010, also set an ambitious target to make exports account for 50 percent of its total sales by 2018, said Yang Xueliang, Geely's spokesman.

Data from the China Association of Automobile Manufacturers showed that Geely exported a record 12,420 vehicles in July, overtaking Chery Automobile Co, which exported 10,800 units and has dominated the sector for over six years.