STLA - Geely's EV Exports Hit Choppy Waters: Red Sea Attacks Reportedly Threatens To Drive Up Costs And Delivery Delays | Benzinga
Geely Automobile Holding Ltd (OTC: GELYY) (OTC: GELYF), a Chinese automaker, has reportedly indicated that its electric vehicle (EV) sales could be affected due to ongoing hostilities in the Red Sea, where Yemeni militants are targeting vessels, compelling shippers to opt for longer, costlier routes.
The company said that the majority of its shipping partners that export cars to Europe plan to reroute around the Cape of Good Hope instead of using the Suez Canal, traditionally the quickest passage from Asia to Europe.
If these Red Sea tensions persist, shipping ...