Geely (Part 1): Sales volume of 3.65 million units by 2025, with 600K units to be sold overseas

Promoting battery projects & launching the Industrial Internet Platform for smart manufacturing




 According to an announcement by Geely Automobile Holdings Limited (hereafter, Geely), a major Chinese privately-owned automobile manufacturer, in 2021, Geely’s China domestic retail sales were 1.213 million units, and exports were 115,000 units, up 0.6% year-over-year (y/y) to a total sales volume of 1.328 million units. Sales in the first half of 2022 (January-June) decreased by 2.6% y/y to 614,000 units. The sales target for the full year of 2022 has been set at 1.65 million units.

 Geely Automobile Holdings engages in a wide range of businesses such as automobiles/motorcycles, mobility services, science and technology, finance, and education. Some of these companies have grown in size and become more competitive through acquisitions and joint ventures. In June 2022, its first nine navigation satellites were launched, and in July, a company affiliated with automaker Geely Holding Group agreed to acquire a majority stake in a Chinese smartphone company.

 Geely Automobile Holdings, which brought Volvo Cars and Lotus under its umbrella and led their restructuring, is building a new independent brand mainly in the field of electrified vehicles from 2020 onwards. Focusing on the commercial vehicle business, the company acquired a truck manufacturer and will develop a wide range of products from light-duty trucks to heavy-duty trucks.

  According to the group's business strategy announced in the second half of 2021, Geely Automobile Holdings aims to achieve group-wide sales of 3.65 million units by 2025 and overseas sales of 600,000 units. It also aims to achieve Level 4 autonomous driving.

  This report focuses on the Geely Automobile Group's business strategy and CASE-related (connected, autonomous, shared, electric) technologies. Geely’s overseas expansion plans and commercial vehicle business will be introduced in a future report.

Related reports:
2022 H1 China market: Sales Down to 12.05 Million Units, but NEVs Up 2.2 Times to 2.6 Million Units (Aug. 2022)
Chinese Market Q2 2022: Chinese Automakers Focus on Improving Production Systems for Drive Batteries (Jul. 2022)
Chinese Market Q1 2022 (1): SAIC, FAW, BYD, etc. accelerate development in battery and energy fields (May. 2022)
Auto Shanghai 2021: Geely, Great Wall Motor, BYD (May. 2021)
Geely: Brand expansion, production capacity increase, CASE strategy implementation (Dec. 2019)

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