GEELY Holding Group reported a remarkable 20 percent increase in aggregate sales across its automotive brands, totaling 2.79 million units in 2023, setting a new record for the sixth consecutive year.
Notably, 35 percent of these sales were attributed to electrified and clean alternative fuel vehicles, which witnessed a growth of over 51 percent year-on-year, reaching approximately 980,000 units.
The Group’s focus on electrification and next-generation technologies resulted in the launch of several new electric models across its brand portfolio, including Geely Auto’s Yinhe E8, Zeekr 007, Lynk & Co 07 EM-P, Volvo EX30, Polestar 4, Lotus Emeya, smart #3, PROTON S50, and Farizon SuperVAN in 2023.
Geely Auto achieved sales of 1.68 million units, driven by global expansion and electrified vehicle sales.
Lynk & Co delivered 220,250 vehicles globally, marking a 22 percent year-on-year increase. Sports luxury brand ZEEKR achieved over 100,000 unit sales, with plans to double sales in 2024. Malaysian National car Proton bought by Geely in 2018 recorded its fifth consecutive year of growth with a 9.3 percent increase in sales.
British marque Lotus Cars witnessed a staggering 1300 percent year-on-year sales increase, with over 50 percent of sales from electric models. Technology sharing partner, Swedish car maker Volvo Cars reached 708,716 unit sales, with fully electric vehicles accounting for 16 percent of all vehicles sold. For the US market Polestar delivered 54,600 cars and introduced the performance SUV, Polestar 4.
Mini car maker smart delivered nearly 70,000 units globally and expanded its presence to 22 countries and regions. RADAR achieved a 61.5 percent market share in electric pickup trucks in its first year while Farizon doubled its market share to over 20 percent and expanded into Southeast Asia and the Middle East. LEVC transformed into a leading provider of emobility solutions and introduced the next-generation electric model, the L380.
In 2024, Geely Holding anticipates further growth in electrified vehicle sales and margins, with numerous new electrified models set for production and delivery. Geely Automobile Group aims for 1.9 million units in sales, Zeekr plans to double premium electric vehicle sales to over 200,000 units, and Polestar targets improved margins and annual sales of around 150,000 units by 2025.
