Zhejiang Geely Holding Group Co., Ltd.
Company typePrivate
IndustryAutomotive
Founded6 November 1986; 37 years ago (1986-11-06)[1]
in Taizhou, Zhejiang, China
FounderLi Shufu
HeadquartersBinjiang District, Hangzhou, Zhejiang, China
Area served
Worldwide
Key people
  • Li Shufu (chairman)
  • An Conghui (president)
ProductsAutomobiles, motorcycles, engines, transmissions, luxury vehicles
Production output
Increase 2.79 million vehicles (2023)[2]
RevenueIncrease US$60.40 billion (2022)[3]
Increase US$945 million (2022)[3]
Total assetsIncrease US$81.29 billion (2022)[3]
Total equityIncrease US$13.01 billion (2022)[3]
OwnerLi Shufu
Number of employees
131,517 (2022)[3]
Subsidiaries
Chinese name
Simplified Chinese浙江吉利控股集团有限公司
Traditional Chinese浙江吉利控股集團有限公司
Websitezgh.com
Footnotes / references
in consolidated financial statement; shareholders' equity figure excluded perpetual bond[18]

Zhejiang Geely Holding Group Co., Ltd. (ZGH), commonly known as Geely Holding or simply Geely (/ˈli/ JEE-lee; Chinese: 吉利; pinyin: Jílì; lit. 'auspicious'), is a Chinese multinational conglomerate headquartered in Hangzhou, Zhejiang. The company is mainly engaged in the automotive industry, and is privately owned by Chinese entrepreneur Li Shufu. It was founded in 1986 and entered the automotive industry in 1997 with its subsidiary Geely Auto.[19] As of 2023, the company ranks 225 in the 2023 Fortune Global 500 list of the world's largest companies.[3]

The company manufactures and sells vehicles under the names of Geely, Lynk & Co and Zeekr, which are part of the Geely Automobile Group, along with its subsidiaries and joint ventures, such as Volvo Cars, Polestar, Proton, Smart and Lotus, as well as commercial vehicles under the London EV Company, Radar Auto and Farizon brands. It also produces motorcycles under its subsidiaries Zhejiang Geely Ming Industrial (Jiming and Geely), Qianjiang Motorcycle (QJMotor and Keeway), and Benelli. It also holds a 9.7% stake in the Mercedes-Benz Group and a 17% stake in Aston Martin.[20][21]

In 2024, the group produced a total of 2.79 million vehicles globally. 980,000 units were plug-in electric vehicles.[2]

Overview

Geely is a phonetic transliteration of the company's native name 吉利 (pinyin: Jílì), which means "auspicious" or "propitious" in Chinese.[22]

Zhejiang Geely Holding Group was already manufacturing its own cars before it acquired the Swedish passenger car maker Volvo Cars from Ford Motor Company in 2010.[23] It completed the acquisition of British taxi maker London Electric Vehicle Company in 2013,[24] and acquired a majority stake in British sports carmaker Lotus Cars in 2017.[25]

The company's business is divided into five sub-groups: Geely Auto Group which includes the brands Geely Auto, Lynk & Co, Proton Holdings; Volvo Car Group which includes the brands Volvo Cars and Polestar; Geely New Energy Commercial Vehicle Group which include the brands London Electric Vehicle Company and Yuan Cheng (Farizon); Geely Group (New Business) which includes the brands Caocao, Terrafugia, Qianjiang Motorcycle, Joma, and other new businesses; and Mitime Group (铭泰集团) which includes ZGH educational institutions, motorsports business, and tourism business; Its global operations span the automotive value chain, from research, development and design to production, sales and service.[26]

Geely Automobile Holdings Ltd (吉利汽车; Jílì Qìchē) (SEHK175), a subsidiary of Zhejiang Geely Holding Group, is listed on the Hong Kong Stock Exchange.[27] On 13 February 2017, it became a constituent of the Hang Seng Index.[28]

History

Geely was established in 1986 in Ningbo, Zhejiang by Li Shufu as a refrigerator parts manufacturer located in in Taizhou, Zhejiang. To start the company, Li Shufu had to borrow funds from his family.[29][30] In 1994, Geely transitioned into the motorcycle industry by acquiring a state-run firm, and started producing China's first scooter.[31]

In 1997, the company had completed the construction of relevant factories and initial investment preparations to enter the automobile industry. This made Geely the first private automobile company in China, whereas other carmakers are state-owned enterprises such as Chery. Geely's first car, the Geely Haoqing, rolled off the assembly line in Linhai, Zhejiang on 8 August 1998. However, Geely did not obtain its national production license until 9 November 2001, which delayed mass production until 2002.[32] By 2002, the brand was ranked among the top ten in the Chinese automobile market.[32] It also ranked 421st among the "Top 500 Companies in China" and 28th among the "Top 100 Companies in Zhejiang Province".[33]

In 2002, Geely shifted from being a family-operated entity to a joint-stock company managed by professional management. On 24 March 2003, Zhejiang Geely Holding Group Co., Ltd. was established with a registered capital of CN¥930 million.[34] In January 2004, Li Shufu bought controlling shares in Guorun Holdings Co., Ltd., a company listed on the Hong Kong Stock Exchange under the trading code 0175HK.[35] In March 2004, Guorun was renamed Geely Automobile Holdings Limited, retaining the same trading code.[36] This strategy was seen as Geely's "backdoor" entry into the Hong Kong stock market, providing a means to raise funds.[37][38][36]

In 2006, Geely bought a 19.97 percent equity stake in British company Manganese Bronze Holdings, the manufacturer of London black cabs. Both companies started a £53 million joint venture to produce the black cabs in China, with Geely holding 52 percent and the British company 48 percent.[39][40] The company has since reduce costs by producing parts in China. In February 2013, Zhejiang Geely Holding fully acquired Manganese Bronze Holdings for £11.04 million, after the British company entered administration due to lack of funding.[41][42] Zhejiang Geely Holding established a new company under its British subsidiary called The London Taxi Corporation, later renamed London Electric Vehicle Company, to resume assembly of the London black cab in Coventry.[43][44]

Purchase of Volvo Cars (2008–2010)

Volvo Cars Chinese headquarter in Hangzhou, next to Geely's headquarter

Following continuing losses in that year, Ford Motor Company offered Volvo Cars for sale in December 2008.[45] On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Geely Holding group.[46][47] On 23 December 2009, Ford confirmed the terms of the sale to Geely Holding had been settled. A definitive agreement was signed on 28 March 2010 for US$1.8 billion. The European Commission and China's Ministry of Commerce approved the deal on 6 and 29 July 2010, respectively. The deal closed on 2 August 2010 with Geely paying $1.3 billion cash and a $200 million note.[48][49] At the purchase of the purchase, is the largest overseas acquisition by a Chinese automaker.[50]

This acquisition facilitated Volvo's recovery and brought significant technological and managerial advancements to Geely. Under Geely ownership, Volvo Cars has developed a new line of 3- and 4-cylinder diesel and petrol engines to replace larger engines. It has also developed a new vehicle platform called the Scalable Product Architecture (SPA). Sales reached 500,000 vehicles in 2015 for the first time in the brand's history, and continued to over 700,000 in 2023.[51][52] Both company jointly developed engines and platforms, notably the Compact Modular Architecture platform that is used by Volvo, Geely and Lynk & Co vehicles. Improving technical expertise and a sophisticated production management system led to a significant sales surge for Geely from 2010 onwards.[53]

2016–present

In October 2016, Geely Auto released its new brand called Lynk & Co in Berlin, Germany, which is intended to bridge the gap between Geely and Volvo. The brand was launched with three production models, all based on the Compact Modular Architecture (CMA).[54] In August 2017, Zhejiang Geely Holding, Geely Automobile Holdings and Volvo Car Group signed an agreement at Geely Auto's Hangzhou Bay R&D Center to establish the Lynk & Co joint venture. Geely Auto controls 50% of Lynk & Co, Volvo Cars held 30%, and Zhejiang Geely Holding held the remaining 20%.[55]

In May 2017, Geely purchased a 51% controlling-stake in Lotus Cars from its owner, DRB-HICOM, the largest shareholder of Malaysian carmaker Proton Holdings.[56][8] The remaining 49% were acquired by Etika Automotive, a holding company of Proton's major shareholder Syed Mokhtar Albukhary.[57] Proton had owned Lotus since 1996, and largely struggled to turn the fortunes of the sports car maker around. Geely also purchased a 49.9% stake in Proton Holdings, which was agreed on 23 June 2017 and finalised on 29 September 2017.[58][59] The purchase was seen to facilitate future export growth in right-hand drive markets, and making inroads into the lucrative ASEAN region.[60][61] Proton confirmed that it would not downsize its workforce following its deal with Geely.[62]

In July 2017, the company purchased Terrafugia, an American maker of flying cars.[63] In November 2017, Geely announced completion of the Terrafugia acquisition, including approval from all relevant regulators.[64]

In December 2017, Geely invested €3.25 billion into Swedish truck and construction company Volvo Group, a former parent company of Volvo Cars.[65] The deal made Geely the biggest shareholder by number of shares with an 8.2% stake, and second by voting rights, with 15.6%.[65]

In September 2019, Geely led a round of private funding for Volocopter that raised $55 million for the company. Volocopter's other private investors also include Daimler AG which owns a stake in the company.[66]

In late July 2020, it was announced that the Xingma Group had agreed to transfer a 15.2% stake of its shares in the Ma'anshan-based heavy truck manufacturer Hualing Xingma to Geely New Energy Commercial Vehicle Group, a wholly owned subsidiary of Geely Holdings. After the transaction, Geely New Energy Commercial Vehicle Group would become the de facto controlling shareholder of Hualing Xingma.[67]

In February 2020, Volvo Cars and Geely started formal discussions about a merger of both businesses. In the existing arrangement, Volvo Cars has been allowed autonomy with its resources despite being fully owned by Geely Holding.[68] These merger talks were later halted, and 18% of Volvo Cars shares were listed on the Nasdaq Stockholm stock exchange in October 2021.[69]

In March 2021, Geely Holding announced the launch of its Zeekr brand. The brand is used to market premium electric vehicles. Its first model, the Zeekr 001 was launched in April 2021, and deliveries began in October 2021.[70] By May 2024, Zeekr initiated its initial public offering on the New York Stock Exchange.

Shareholding and partnerships with Daimler/Mercedes-Benz

Smart #1 and Smart #3 electric cars in a showroom in a mall in Shenzhen

In 2018, Geely purchased a 9.7% stake in Daimler AG (currently Mercedes-Benz AG), owner of the Mercedes-Benz and Smart brands.[71]

In January 2020, Geely Holding and Daimler AG announced a 50-50 joint venture to develop and operate the Smart brand as a global electric vehicle brand. The venture, later named Smart Automobile Co., Ltd. is headquartered in Ningbo, Zhejiang. It has a registered capital of CN¥5.4 billion, with each company contributing CN¥2.7 billion.[72] The new all-electric Smart model from this joint venture was launched globally in 2022 as the Smart #1, previously showcased as the Concept #1 at the 2021 Munich Motor Show.[73] Smart electric vehicles from the partnership are based on the Sustainable Experience Architecture (SEA) electric vehicle platform developed by Geely.[74]

Renault partnership

In August 2021, Geely Holding through its subsidiary Geely Auto formed a strategic partnership with Renault, with a car production joint venture for China.[75] In January 2022, the two companies signed an agreement by which Renault's South Korean subsidiary, Renault Korea Motors, would produce vehicles based on Geely Compact Modular Architecture platform,[76][77] initially intended for the domestic market. As of January 2022, production was slated to start by 2024.[78] In May 2022, Renault said a Geely subsidiary was set to acquire a 34% of Renault Korea Motors through capital increase as part of their partnership, although the company would continue to be majority owned by Renault and a consolidated subsidiary of it.[79][80] In November 2022, Renault said it plans to combine its powertrain production and development operations (including internal combustion engines and hybrid systems) with Geely's into a joint venture holding company with both as co-owners.[81][82] In March 2023, Saudi petroleum company Aramco signed a letter of intent to invest to the powertrain joint venture.[83]

Baidu partnership

Main article: Jidu Auto

In January 2021, Geely Holding announced a deal to create an electric vehicle joint venture together with Baidu, a Chinese multinational technology company specializing in Internet-related services, products, and artificial intelligence (AI). Baidu would develop the electric car's software while Geely would manufacture the car.[84][85] The companies formed Jidu Auto in the same year, combining elements of both company names. Later, in August 2023, they launched the Ji Yue brand, with Geely owning 65% and Baidu 35%. Ji Yue is a subsidiary of Geely Group that was formed to circumvent restrictions on car manufacturing qualifications. Jidu Auto now focuses on technology solutions, including product design and AI development, for Ji Yue vehicles.[86][87][88]

Automotive divisions and products

Based in China, Zhejiang Geely Holding Group operates in several global locations, via subsidiary brands. The Group's core business activities are within the automotive industry where it controls the following automotive groups and vehicle brands:

Geely Holding Group automotive divisions[89]
Division Subsidiaries/brands
Geely Automobile Holding
Volvo Car Group
Zeekr Intelligent Technology Zeekr
Lotus Group
  • Lotus Cars(JV)
  • Lotus Technology(JV)
Qizheng New Energy Vehicle Livan[90]
Smart Automobile Smart(JV)
LEVC London Electric Vehicle Company
Radar New Energy Automobile Radar Auto
Geely New Energy Commercial Vehicle Group
  • Farizon Auto
  • Hanma Technology(JV)
  • Ou Ling Auto
  • Green Intelligent Link
  • Oneworld Technology
(JV) = joint venture

Vehicle platforms

Many of Geely's subsidiaries produce vehicles using shared architectures. Some examples include:

Brands

Geely

Main article: Geely Auto

Geely Auto is Geely Group's original and mainstream brand, primarily sold in China and select overseas markets. It has two electric vehicle product line, the Geely Geometry for entry-level EV and Geely Galaxy for premium EV/PHEV.

Lynk & Co

Main article: Lynk & Co

Owned 50% by Geely Auto, 30% by Volvo Cars, and 20% by Zhejiang Geely Holding Group, Lynk & Co was formed in 2017.[91] It is a Chinese–Swedish car brand based on technology developed jointly by Volvo Cars and Geely Auto.

Polestar

Main article: Polestar

Polestar is a publicly traded electric car brand established in Sweden under the Volvo Cars Group. Polestar was initially 50.5% owned by Geely Holding and 49.5% by Volvo Cars.[92]

Zeekr

Main article: Zeekr

Zeekr is a publicly traded brand founded by Geely in 2021 which specializes in luxury EVs.

Livan/Maple

Main articles: Livan Automotive and Shanghai Maple

The Maple brand name originated with Shanghai Maple Automobile, a Geely subsidiary established in 1999 and phased out in 2010.[93] The brand was temporarily revived in 2020 by launching its first EV, the Maple 30X.

In 2022, Geely launched the joint venture between Lifan and Maple called Livan (Ruilan, 睿蓝), and the previous Maple products were reconsolidated into Livan brand.

Lotus

Main article: Lotus Cars

Owned 51% by Zhejiang Geely Holding Group and 49% by Etika Automotive, Lotus Cars is a British producer of sports and racing cars. The first Lotus car was built in 1948 and in June 2017, Lotus Cars became majority owned by Zhejiang Geely Holding Group.[94]

Volvo Cars

Main article: Volvo Cars

Volvo Cars is owned 78.7% by Zhejiang Geely Holding Group (post Volvo Cars IPO).[15] Zhejiang Geely Holding Group acquired Volvo Cars from Ford Motor Company in 2010.[23]

Farizon

Yuan Cheng Auto (远程汽车) or Farizon Auto was formed in 2016 to focus on the development of commercial vehicles in China and has launched several long-range capable truck and bus solutions. The company raised over $300 million in a Pre-A Round in October 2022 led by GLP's investment arm Hidden Hill Capital,[95] and $600 million in a Series-A funding round in July 2023, led by Boyu Capital and Yuexiu Industrial Fund.[96] The factory was later acquired by the Chinese electric commercial vehicles company Yuan Cheng Auto, which in conjunction with Myoung Shin. The company plans to manufacture CKD-made electric trucks for the China market.[97]

Products include:

Farizon also has a sub-brand called Ouling (欧铃) selling gasoline-powered lower end micro trucks.

Radar

Main article: Radar Auto

Radar is Geely's upscale pick-up truck brand, with its name standing for Rational, Alone, Discovery, Accompany, and Romantic.

The brand's first vehicle, the Radar RD6, was unveiled in 2022.[101]

LEVC

Main article: London Electric Vehicle Company

The London Taxi Company, which was acquired by Zhejiang Geely Holding Group in 2013, changed its name to London Electric Vehicle Company (LEVC) in 2017 to reflect its new mission of developing and producing electric commercial vehicles. With a new factory in Ansty Park, near Coventry, it has begun production of a new generation of zero-emission-capable new taxi vehicle in late 2017.[102]

Ji Yue / Jidu Auto

Main article: Jidu Auto

Jidu Auto (集度), a joint venture between Geely and Baidu, intends to release a full portfolio of electric vehicles in different segments starting in 2022.[103] Jidu Auto is owned 55% by Baidu and 45% by Geely.

Ji Yue (极越) brand was established in August 2023, a second company between Geely and Baidu to reconstruct the partnership between the two companies.[104] The Ji Yue brand is 65% owned by Geely and 35% by Baidu which makes Ji Yue brand a subsidiary under Geely Group rather than a joint venture company like Jidu.[105] Due to the Chinese government's policies, Baidu as the controlling company of Jidu, cannot obtain the qualification to manufacture cars. The purpose of establishment of Ji Yue was to make Geely as the controlling company to solve the restriction of car manufacture qualification.[106] The Jidu Auto became a technology solution company to develop AI driving technology and will not be an independent car marque.[107]

With the new Ji Yue brand, the previous Jidu ROBO-01 was renamed as Ji Yue 01. The Ji Yue brand inherited the brand logo created by Jidu Auto.[108]

Proton

Main article: Proton Holdings

Owned 49.9% by Zhejiang Geely Holding Group and 50.1% by DRB-Hicom and is managed by Geely Auto Group. Proton is the national car brand of Malaysia, established in the 1980s at the behest of the government and later reverted to private ownership under DRB-Hicom.[109]

The brand Proton, the national carmaker’s first-ever SUV Proton X70 based on first generation Geely Boyue has made its official launch debut in Malaysia on 12 December 2018.[110]

In July 2023, after the internal restructuring in Geely Group, the Proton brand was consolidated into the balance sheets of Geely Group.[111]

smart

Main article: Smart (marque)

In 2020, Mercedes-Benz and Geely Holding formally established the smart brand as a global joint venture, targeting at producing zero-emission electric cars.[112] In 2022, the joint venture launched its first model Smart #1.

Motorcycle brands

Qianjiang Motorcycle

Main article: Qianjiang Motorcycle

Qianjiang Motorcycle is one of the largest manufacturers of two-wheeled vehicles in China. Since September 2016, the majority shareholding (29.8%) of the company has been controlled by the Geely Group. The vehicles are sold under four brands: QJiang, QJMotor, Benelli, Keeway Motors and KSR Moto.

Benelli

Main article: Benelli (motorcycles)

Benelli is a subsidiary that produces motorcycles and scooters. Design, development and marketing activities are carried out at the Benelli QJ headquarters in Pesaro, Italy, with production occurring in Wenling, China, for sale globally.

Discontinued brands and models

Geely has sold cars under at least three separate brands and may have continued to use the brand name of a purchased company for a short time. The Emgrand, Englon, and Gleagle names were phased out in 2014[113] alongside efforts to reduce sprawl,[114] and the Shanghai Maple brand name was discontinued in 2010 and revived in 2020.[115]

Emgrand

Main article: Emgrand

Emgrand (Chinese: 帝豪; pinyin: Dìháo) was launched in 2009 as a medium- to high-end luxury brand.[116] In 2014, Emgrand ceased to be a stand-alone brand, and Emgrand became a sub-brand of Geely, which itself adopted an updated version of the Emgrand logo.

Englon

Launched in 2010 and replacing the Shanghai Maple brand,[115] the company claimed Englon (Chinese: 英伦; pinyin: yīng lún) emulated classic, British style, and its model line included a TX4 sold on the Chinese market.[117] Some of its cars were built by Geely subsidiary Shanghai LTI.[118] As Geely fully acquired The London Taxi Company in 2013, the emblem of Englon also became the new logo of The London Taxi Company.[118]

Gleagle

Main article: Gleagle

The former Gleagle logo can be seen on a Geely LC, which was also sold under that brand name.

Gleagle (Chinese: 全球鹰; pinyin: Quánqiú Yīng) was an entry-level brand.[119] Some Gleagle cars, such as the Gleagle Panda, were available for sale on the Internet in China via the Taobao Mall, a popular e-commerce site.[120][121] While Geely would deliver the car to the customer's address, buying one of the Panda models on offer did necessitate a trip to a traditional dealer.[122] This sub-brand was discontinued in 2015. Most products continued to be sold directly under the Geely brand.

Zhidou

Main article: Zhidou

Zhidou Auto or ZD Auto brand specialized in microcars. The brand was discontinued since 2021.

Geely Motorcycles

Main article: Geely Ming Industrial

Geely also produced motorcycles since 1994 with its own subsidiary, Geely Ming Industrial Co., with the brand Jiming and Geely Motorcycle.

Production facilities

Part of an assembly line at a Geely plant in Ningbo, Zhejiang, can be seen here.

Headquartered in Hangzhou, Zhejiang, Geely has production bases in Lanzhou, Gansu (completed in 2006, Geely construction in the region continued as of August 2010 either for expanding the existing facility or for a new semi-complete knock-down factory); Xiangtan, Hunan;[123] an unnamed location 40 minutes south of Shanghai;[124] Jinan, Shandong; and at Linhai, Luqiao, and Ningbo in Zhejiang.[27]

There are overseas factories assemble Geely models probably from semi-complete or complete knock-down kits.[citation needed] Such facilities are or have been located in Indonesia, Sri Lanka (in collaboration with Micro Cars),[125][126] Malaysia, Russia (assembly controlled by local firm Derways), Belarus (BelGee),[127] Azerbaijan (NAZ), Tunisia,[128] and Ukraine. These locations are not necessarily affiliated with or owned by Geely.

International investments and holdings

Mercedes-Benz Group (9.69% stake)

Aston Martin (17% stake)

Volvo Group (6.8% stake)

Renault Korea (34.02% stake)

Horse (50% stake)

Drivetrain Systems International (divested)

Non-automotive businesses

Geely Technology Group

Mitime Group

Mitime Group was established in 2004 and is affiliated to Zhejiang Geely Holding Group. It focuses on investment and operation management of higher education, sports, cultural tourism and other businesses. The group consists of three departments: Mitime Speedpark, Mitime Sports and Mitime Cultural Tourism.[144]

Meizu

Main article: Meizu

In June 2022, Geely acquired a majority stake of Meizu, a Chinese consumer electronics manufacturer based in Zhuhai, Guangdong.[145]

Geely Talent Development Group

Previously known as Mitime Education, a subsidary of Mitime Group, the Geely Talent Development Group is the education branch of Geely to cultivate talents for the automotive industry. Geely has established 9 higher education institutions and more than 10,000 student graduate from Geely's schools each year.

Sales

Dealer network in China

Geely refers to its dealer network as 4S stores and also sells some models online.[122] In 2014, it had a reported 900 retail outlets.[114]

Markets

A Geely MK in Singapore. 770 Geely cars were on Singaporean roads in 2010.[146]

In addition to China, Geely vehicles have been sold in Argentina,[147] Australia,[148] Bahrain,[149] Brazil,[150] Botswana, Burundi, Chile,[151] Colombia,[152] Costa Rica,[153] Egypt,[154] Ethiopia, Indonesia,[155] Iran,[156] Kuwait, Libya, Mali, Malawi, Madagascar, Mozambique,[157] Nepal,[158] New Zealand,[159] Nicaragua, Nigeria,[160] Oman,[161] Pakistan, the Philippines,[162] Romania,[163] Russia, Rwanda, Senegal,[164] Saudi Arabia,[165] South Africa,[166] Suriname, Syria,[167] Taiwan,[168] Turkey,[169] Uganda, Ukraine,[170] Uruguay,[171] and Venezuela.[172] In a number of markets, Geely vehicles are assembled in local factories from complete knock-down kits. Geely is also marketed in Lebanon, through the Rasamny Younes dealership network.

The Cuban government has purchased a considerable number of Geely vehicles, and they are used as police patrol cars[173] or tourist taxis throughout Havana.[174][175]

The Geely automobile brand was touted to be launched in the United Kingdom in late 2012.[176][177] However, this plan was not pursued and the official website has been offline since mid-2014.

In July 2020, a first showroom opened in Doha, Qatar.[178]

Figures

In 2010, Geely brand surpassed its 400,000-vehicle sales target goal for the first time selling 415,286 cars[179] of its 680,000 units/year production capacity.[141]

Geely Auto Group (including Geely, Lynk & Co brand) reported annual sales of 1,500,838 units in 2018. That year marks the first time that Geely Auto had reached sales of 1.5 million units.[180]

Geely domestic sales in China, 2003–2020[181]
Calendar year Sales Growth Market share
2003 73,779 N/A Increase 3.44%
2004 98,283 Increase 33.21% Increase 3.99%
2005 143,279 Increase 45.78% Increase 4.45%
2006 205,346 Increase 43.32% Increase 4.89%
2007 219,512 Increase 6.90% Decrease 4.16%
2008 221,786 Increase 1.04% Decrease 4.08%
2009 329,018 Increase 48.35% Decrease 3.98%
2010 414,465 Increase 25.97% Decrease 3.70%
2011 432,752 Increase 4.41% Decrease 3.52%
2012 491,445 Increase 13.56% Increase 3.72%
2013 549,393 Increase 11.79% Decrease 3.37%
2014 425,773 Decrease -22.50% Decrease 2.31%
2015 532,384 Increase 25.04% Increase 2.64%
2016 778,896 Increase 46.30% Increase 3.30%
2017 1,251,656 Increase 60.70% Increase 5.16%
2018 1,382,119 Increase 10.42% Increase 5.96%
2019 1,255,480 Decrease -9.16% Decrease 5.93%
2020 1,134,433 Decrease -9.50% Decrease 5.77%
Geely Group sales[182][183][184][185][186][187]
Year Total Geely Automobile Holding Livan/Maple Zeekr Volvo Cars Group LEVC Farizon Lotus Radar Ji Yue Smart[188] Proton[189] Zhidou
Geely Geometry Galaxy Lynk & Co Volvo Polestar
2010 425,194 425,194 - - - discontinued - - - - - - - - - - -
2011 857,006 452,161 - - - - 404,735 - - - - - - - - -
2012 905,083 527,918 - - - - 377,165 - - - - - - - - -
2013 979,691 617,484 - - - - 362,207 - - - - - - - - -
2014 878,818 499,165 - - - - 379,653 - - - - - - - - -
2015 1,025,287 578,517 - - - - 421,374 - - - - - - - 25,395
2016 1,333,077 809,079 - - - - 503,706 - - 1,961 - - - - - 20,292
2017 1,938,057 1,273,837 - - 6,012 - 536,905 - - 6,228 1,600 - - - 70,991 42,484
2018 2,276,846 1,401,819 - - 120,414 - 666,586 - 1,293 5,024 1,630 - - - 64,744 15,336
2019 2,194,145 1,245,168 12,662 - 128,066 - 694,831 - 2,507 7,313 1,320 - - - 100,183 2,095
2020 2,150,134 1,166,920 10,300 - 175,456 2,620 - 667,159 9,853 1,118 5,265 1,378 - - - 109,716 349
2021 2,189,409 1,046,186 55,320 - 220,516 4,945 6,007 698,693 21,940 392 18,980 1,710 - - - 114,708 12
2022 2,312,613 975,391 149,389 - 180,127 56,140 71,941 615,121 51,500 2,508 59,211 641 undisclosed - 9,212 141,432 discontinued
2023 2,790,000 1,034,737 191,346 83,497 220,250 38,001 118,685 708,716 54,600 84,312 6,970 774 154,611

Controversies

The 2009 Geely GE concept received criticism for looking like a Rolls-Royce.[190]

An unsuccessful lawsuit was brought against the company in the early 2000s by Toyota, which claimed Geely had "implied in ads that some of the parts [used in Geely vehicles] were made by Toyota".[191] Geely may also have previously used a logo that resembled that of Toyota.[192]

Anecdote

Geely is known for imbuing a sense of humor in the names of some of its vehicles. One of the Geely brand sedan is called the "King Kong" and its early model was named Uliou(Chinese: 优利欧, You Li Ou),[193] a play on words that literally means "better than the Tianjin Xiali (Chinese: 夏利, Xia Li) or the Buick Sail (Chinese: 赛欧, Sai Ou), two of its competitors.[194]

See also

References

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