(Yicai Global) Sept. 11 -- Zhejiang Geely Holding Group invested about CNY100 billion (USD14.1 billion) on research and development between 2009 and 2018, its founder and Chairman Li Shufu said at the Western China International Fair today, attempting to quash claims that the Chinese carmaker did not spend enough on technology advancement.

The firm's R&D expenditure was CNY21 billion last year, he added, equivalent to 6.4 percent of sales.