Zhejiang Geely Holding welcomed new equity investors to Zeekr, global premium electric mobility technology company following the completion of an initial public offering on the New York Stock Exchange.
Geely Holding highlighted increased tech synergies among its portfolio brands at the Beijing Automobile Show through new product launches and global debuts from Geely Auto, Zeekr, smart, JIYUE, Lotus, Volvo Cars, and Lynk & Co developed on shared Geely vehicle architectures such as the Sustainable Experience Architecture (SEA) and Compact Modular Architecture (CMA).
Geely Holding announced that its cumulative aggregate sales for Q1 2024 across its automotive brands – Geely Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 738,400 vehicles, a 27% YoY increase. Brand sales in March 2024 reached 260,700 units, a 23% YoY increase.
Geely Holding Chairman Eric Li and Founder and CEO of New Oriental, Michael Yu visited Taizhou, the birthplace of Geely and live streamed the latest batch production of satellites at Geely’s Satellite Super Factory.
Geespace completed its second successful satellite launch from China’s Xichang Satellite Launch Center on February 3rd, sending eleven satellites into low earth orbit as the second orbital plane of “Geely Future Mobility Constellation” satellite network.
Geely Holding Group welcomes Volvo Cars decision to focus their resources on the company’s transformational journey and evaluate a potential adjustment to their shareholdings in Polestar, which may result in Geely Holding becoming a significant new shareholder.
Zhejiang Geely Holding Group announced today that aggregate sales across its automotive brands – Geely Auto, Geometry, Livan, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, RADAR, LEVC, and Farizon– grew 20% year-on-year to 2.79 million units in 2023, setting a new record for the Group. The Group also saw sales of electrified and clean alternative fuel passenger and commercial vehicles grow over 51% year on year to approximately 980,000 units and accounting for 35% of Group aggregate sales.
Geely Holding Group has partnered with DRB-HICOM to form a joint venture focusing on the recently announced Automotive High-Tech Valley project. Simultaneously, Geely Holding’s subsidiary, GYMD Digital Technology Co., Ltd., has entered into a Heads of Agreement with ALTEL Group Sdn Bhd, further showcasing its commitment to diversify industrial growth. These initiatives mark a pivotal moment for Malaysia’s automotive sector, ushering in a new era defined by innovation and progress.
Geely Holding and NIO signed a strategic partnership agreement on battery swapping in Hangzhou. Both parties agreed to carry out comprehensive cooperation on battery standards, battery swapping technology, battery swapping network expansion and operation, swappable model development, and battery asset management.
Zhejiang Geely Holding Group, China’s largest private-owned automotive group, has made the decision to release more of its shareholdings in Volvo Cars in accordance to its long-term strategy to enhance the value of the Nasdaq Stockholm listed Swedish carmaker through an increase of liquidity and offer more opportunities to generate sustainable long-term value for institutional and retail investors.
