News

Geely Auto 2024 H1 Revenues Exceed 107B RMB on Electrified and Overseas Sales Surge

Geely Automobile Holdings Ltd (HK.0175) (Geely Auto), the Hong Kong-listed entity in which Zhejiang Geely Holding Group is the lead shareholder and is the major shareholder in three brands including Geely Auto, Lynk & Co, and Zeekr, released its 2024 H1 results revealing revenues of 107.3 billion RMB, up 46.6% YoY with net profits of 10.6 billion RMB, up 574.7% YoY.

Geely Holding Brands July 2024 Sales Reach 245,752 Units

Zhejiang Geely Holding Group (Geely Holding) announced today that aggregate sales for July 2024 across its automotive brands – Geely Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 245,752 vehicles, a 10% YoY increase. Cumulative sales in the first seven months of 2024 reached 1,739,467 units, a YoY increase of 23% with electrified vehicles accounting for 696,522 units, a YoY increase of 48%. Among the month’s aggregated sales, electrified (EVs, HEV, PHEVs) vehicles reached 110,042 vehicles, representing a YoY increase of 42% and representing 45 % of the Group sales. Sales of vehicles in markets outside of China also saw significant growth reaching 690,478 units in the first seven months of the year, a YoY increase of 23%.

Geely Auto Launched its Latest Electric SUV E5 in Guiyang, China

Geely Auto officially announced the launch of E5, its newest electric SUV, in Guiyang China. Developed for the global market from the very beginning, the E5 is built on the global intelligent new energy architecture GEA, and adopts minimalist design that caters to users worldwide. 

Geely Auto Group Sales Reach 955,730 Units in H1 2024

In the first half of 2024, Geely Auto Group has reported combined sales of 955,730 vehicles delivered, marking a 41% increase compared to the same period during 2023. Notably, global sales outside of China demonstrated exceptional performance, with the group’s export sales reaching 197,428 vehicles during the period, representing a substantial year-on-year growth of over 67%. This growth rate represents a new historical high for the company. Geely Auto Group’s achievement in the first half of 2024 has led the Group to increase its annual export sales target from 330,000 to 380,000.

Geely Holding Brands Half Year 2024 Sales Reach 1,493,715 Units

Zhejiang Geely Holding Group (Geely Holding) announced today that aggregate sales for June 2024 across its automotive brands – Geely Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 266,164 vehicles, a 14.3% YoY increase. Among the month’s aggregated sales, electrified (EVs, HEV, PHEVs) vehicles reached 120,879 vehicles, representing a YoY increase of 53.1% and representing 45.4% of the Group sales.

Aramco to Acquire 10% Equity Interest in HORSE Powertrain Limited, the New Global Powertrain Solutions Company Established by Renault Group and Geely

Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited, the new global powertrain solutions company, alongside Renault Group, Zhejiang Geely Holding Group and Geely Automobile Holdings Limited (“Geely”). HORSE Powertrain Limited was formed on May 31, 2024, by Renault Group and Geely and is incorporated and headquartered in London, UK.

Geely Holding Group Statement on Provisional Countervailing Duties Disclosed by the European Commission

The European Commission has recently announced plans to impose provisional countervailing duties on electric vehicles produced in China. Geely Holding expresses great disappointment in the Commission’s decision.

Geely Holding and SK Sign Strategic Cooperation Agreement

SK Group, South Korea’s second largest conglomerate and Zhejiang Geely Holding Group (Geely Holding) has signed a strategic cooperation agreement covering multiple areas including batteries, automotive electronics components, and green energy. The move comes as part of both company’s strategy to secure global competitiveness in the green mobility sector.  

Geely Holding Brands May 2024 Sales Reach 256,556 Units

Zhejiang Geely Holding Group (Geely Holding) announced today that aggregate sales for May 2024 across its automotive brands – Geely Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 256,556 vehicles, a 22.2% YoY increase. Among the month’s aggregated sales, electrified (EVs, HEV, PHEVs) vehicles reached 110,681 vehicles, representing a year-on-year increase of 59% and representing 43% of the Group sales.

Renault Group and Geely announce the creation of leading Powertrain Technology Company, “HORSE Powertrain Limited”

Following the joint venture agreement signed on July 11, 2023, and after having obtained the approval of the relevant authorities, Renault Group, Geely Holding Group (Geely Holding), Geely Automobile Holdings Limited (Geely Auto) (collectively referred to above as “Geely”) have officially created HORSE Powertrain Limited, headquartered in London, United Kingdom.