Geely achieved prominent market performance in 2024, with financial results exceeding expectations. Its comprehensive transformation toward the new energy vehicle era harvested significant results. Meanwhile, Geely's global strategy is also steadily improving. Its growing popularity in the capital market further underscores the company's strong momentum.
Geely's innovative offerings, including fully self-developed battery, electric motor, and electronic control technologies, intelligent cockpit operating systems, low-orbit satellites, satellite communication chips, and industrial internet platforms, highlight its forward-thinking industry layout and technical expertise.
In 2024, Geely Holding Group achieved annual global sales of 3,336,534 vehicles, representing a year-on-year increase of approximately 22%. Of these, 1,487,954 units were new energy vehicles, marking a year-on-year surge of about 52%. On the other hand, Geely's overseas sales reached 1,221,852 units, indicating a year-on-year increase of roughly 21%.
With these impressive results, Geely is redefining a core question for the automotive industry—what it truly means to be on the right path.
Gasgoo's year-end review highlights the accomplishments of key automotive enterprises and component manufacturers. This report delves into Geely's remarkable milestones in 2024.
Wheels of Change: the Story of Zhejiang Geely Holding Group（Part 1）
With a combination of industrial prowess and financial acumen, Geely Holding has formed a strong market influence and competitiveness.
Wheels of Change: the Story of Zhejiang Geely Holding Group (Part 2)
Through its aggressive acquisition strategy, Geely Holding has opened a new chapter in deepening its industrial layout and expanding its market territory. This approach has not only enriched its brand matrix but also significantly enhanced its core competitiveness, as reflected in its sales over the past few years.
Geely Holding boasts 22% YoY leap in 2024 full-year automobile sales
In January, Zhejiang Geely Holding Group announced via its WeChat account that its annual automobile sales volume jumped 22% year on year to 3,336,534 units in 2024.
ZEEKR begins pre-sales of ZEEKR 7X SUV in Europe
On December 16, ZEEKR, a new energy vehicle maker under Geely Holding, started pre-sales of the ZEEKR 7X in Europe, marking the model's official entry into the global market, according to a post on its WeChat account.
Geely, PROTON co-developed e.MAS 7 BEV model hits market
On December 16, Malaysian automaker PROTON officially put its first all-electric vehicle model, the e.MAS 7, onto the market, marking Malaysia's entry into the electric vehicle era.
ZEEKR completes first deliveries of ZEEKR X in Hong Kong
ZEEKR, an electric vehicle maker under Geely Holding, recently announced its first batch deliveries of 100 ZEEKR X vehicles in the Hong Kong market has been completed on November 16. The company also revealed that the ZEEKR 009 model will soon begin deliveries locally.
Geely Holding restructures equity stakes in ZEEKR, Lynk & Co
On November 14, Geely Holding Group announced its restructuring plans for its equity stakes in ZEEKR and Lynk & Co, optimizing shareholder relations to reduce internal competition, streamline resources, and facilitate deeper integration across its brands. This shift is a critical step in implementing the goals outlined in the "Tāizhōu Declaration," which Geely Holding issued in September to mark the beginning of its new strategic transformation phase.
Geely Automobile's quarterly revenue hits new high in Q3 2024
Geely Automobile Holdings Limited has released its financial report for the third quarter (Q3) of 2024, revealing record-breaking revenue and robust growth.
Geely Auto launches new super hybrid tech 'NordThor EM-i'
On October 30, Geely Auto launched its latest super hybrid technology, the NordThor EM-i, designed to set new standards in energy efficiency and intelligent driving.
ZEEKR inks agreement with EIM for expansion into Egyptian market
On October 29, ZEEKR, an electric vehicle maker under Geely Holding, announced it has signed a partnership agreement with Egypt International Motors ("EIM") to expand into the Egyptian market, intending to jointly establish a dedicated sales and service network in the country.
Geely's Farizon, Galaxy Capital Management form industrial FOF to propel methanol-hydrogen electric vehicle ecosystem
Geely's Farizon New Energy Commercial Vehicle Group ("Farizon") and Galaxy Capital Management Co., Ltd. recently signed a cooperation agreement to establish the first industrial FOF (fund of funds) focused on methanol-hydrogen electric vehicles, according to a post on Farizon's WeChat account in Oct.
ZEEKR expands into Brazilian market with launch of ZEEKR 001 model
On October 12, ZEEKR, the premium electric vehicle maker under Geely Holding, announced the official launch of its ZEEKR 001 model into the Brazilian market, with a starting price of 428,000 Brazilian reals (approximately 542,200 RMB).
ZEEKR announces foray into Norwegian market
On the evening of October 9, ZEEKR announced its official entry into the Norwegian market, with the ZEEKR 001 and ZEEKR X models available for pre-order this month. The first deliveries to Norwegian customers are expected to begin by the end of 2024.
Geely breaks ground on new energy vehicle headquarters in Ningbo city
On September 29, the groundbreaking ceremony for the Geely New Energy Vehicle (NEV) Headquarters took place during the Major Projects Promotion Conference in Beilun District, Ningbo, according to a post on the WeChat account of the Ningbo municipal government.
Geely successfully launches 3rd orbital plane of Future Mobility Constellation with 10 satellites
On September 6, 2024, at 2:30 AM, Geely's Future Mobility Constellation successfully launched its third orbital plane with ten satellites aboard a single rocket from the Taiyuan Satellite Launch Center in China's Shanxi Province.
ZEEKR X model hits Singapore market
On August 1, ZEEKR, the premium electric vehicle brand under Geely Holding, officially put the ZEEKR X model onto the Singapore market. The standard version is priced at 199,999 SGD (approximately 1.083 million RMB), while the flagship version is priced at 214,999 SGD (approximately 1.165 million RMB). These prices already include the Certificate of Entitlement (COE) fees.
Geely's RADAR sets up first overseas subsidiary in Thailand
On July 9, RADAR, a high-end new energy outdoors lifestyle vehicle brand under Geely Holding, announced the establishment of its first overseas subsidiary in Thailand, marking the Thai market as its first independently operated overseas market.
Geely launches new-generation Aegis LFP short-blade battery
On June 27, Chinese automaker Geely launched its new-generation self-developed blade-style lithium iron phosphate (LFP) battery, the Aegis short-blade battery. The innovative short-blade design boasts significant advancements in safety, cycle life, fast-charging capabilities, and low-temperature discharge performance.
Geely-backed eVTOL maker AEROFUGIA closes Series B financing round
Recently, Geely-backed eVTOL (electric vertical take-off and landing) developer AEROFUGIA completed its Series B financing round, raising several hundred million yuan for the company. This marks the largest single financing event in China's low-altitude economy eVTOL sector in the past two years.
Geely launches Galaxy Flyme Auto smart cockpit system
On May 30, Geely Automobile unveiled the Galaxy Flyme Auto smart cockpit system, co-developed with DreamSmart. Alongside this, Geely introduced the industry's first AI smart audio system, Flyme Sound. Both systems will be integrated into Geely's Galaxy new energy vehicle range, with customization based on different model requirements.
ZEEKR goes public on NYSE
On the evening of May 10th (Beijing time), ZEEKR, the premium electric vehicle maker under Geely, officially commenced trading on the New York Stock Exchange (NYSE), listed under the ticker symbol "ZK".
ZEEKR launches SEA-M architecture, debuts ZEEKR MIX family-oriented model
On April 25, ZEEKR, Geely's premium new energy vehicle brand, officially launched the Sustainable Experience Architecture-M (SEA-M) at the Auto China 2024 in Beijing. Simultaneously, the first family-oriented vehicle model developed on this architecture, the ZEEKR MIX, made its global premiere.
Geely completes world's first unmanned vehicle drifting
Geely Auto announced on March 27 via its WeChat account that it recently achieved the world's first autonomous vehicle drifting using its proprietary Al digital chassis technology, marking a significant breakthrough the automaker has made in the global's intelligent safety and AI-enabled chassis technology fields.
Geely Automobile to transfer equity in Livan Automotive
HK-listed Geely Automobile Holdings Limited ("Geely Automobile") made a significant announcement on February 20, disclosing that its subsidiary, Zhejiang Jirun, has entered into a equity transfer agreement with Geely Qizheng. Under this agreement, Zhejiang Jirun agrees to sell, and Geely Qizheng agrees to purchase, a 45% equity stake in Livan Automotive at a cash consideration of 504 million yuan.
Geespace launches eleven low-orbit satellites, expanding Geely Future Mobility Constellation
At 7:37 am on February 3, 2024, Geespace, the satellite technology and commercial services company invested by Zhejiang Geely Holding Group, successfully launched its second orbital plane of the Geely Future Mobility Constellation satellite network from the Xichang Satellite Launch Center, deploying 11 satellites in a single launch.
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