Geely Group becomes China’s first local private company to build cars, as the first models of the “You Li Ou” roll off the line at its Ningbo plant, the Financial Times reports. The 4-door sedan will sell for about RMB30,000-RMB40,000 ($3,624-$4,832), providing a more affordable alternative to the Volkswagen Santana, which currently dominates the market’s low end at least double the price. The vehicle beats to market the forthcoming and highly publicized Zhonghua sedan, which China’s ...

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