China’s Geely Holding Group has unveiled ambitious plans to sell over 5 million vehicles annually by 2027, marking a 79% increase from its 2023 performance. The company, known for its sprawling portfolio of automotive brands, intends to achieve this target by streamlining operations and enhancing efficiency.
In 2023, Geely Holding sold 2.79 million vehicles, encompassing passenger cars and commercial models. By November 2024, the group reported sales of 3 million vehicles, reflecting a 31% year-on-year growth. The new goal would place Geely among the top 10 global automakers.
To reach this milestone, Geely plans to consolidate its numerous passenger car brands into two distinct units: Geely Auto, catering to the mass market, and Zeekr Technology, targeting premium customers. This strategic restructuring aims to sharpen brand focus and optimize market positioning.
Geely also plans to align its research and development (R&D) efforts across seven key technological domains, including vehicle architecture, autonomous driving, smart cockpits, and battery systems. The move is expected to eliminate redundancy caused by previously independent R&D teams across its brands.
The company, owned by billionaire Eric Li, has recently shifted its focus back to core automaking operations after diversifying into sectors such as satellites, smartphones, and banking in recent years.
In November, Geely initiated the merger of Zeekr and its sister brand Lynk & Co as part of its broader restructuring efforts. This follows a September announcement detailing the company’s intent to prioritize its automotive ventures.
By streamlining operations and leveraging innovation, Geely is positioning itself as a formidable player in the global automotive market while pursuing ambitious growth targets.
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