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Geely

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This article is about the conglomerate holding company. For the car brand and subsidiary, seeGeely Auto.

Zhe gian g Geely Holding Group Co., Ltd.
Company typePrivate
IndustryAutomotive
Founded
  • 6 November 1986;37 years ago(1986-11-06)[1]
    inTaizhou,Zhe gian g,China
  • 24 March 2003;21 years ago(2003-03-24)(as ZGH)
FounderLi Shufu
HeadquartersBin gian g District,Hangzhou,Zhe gian g,China
Area served
Worldwide
Key people
  • Li Shufu (chairman)
  • An Conghui (president)
ProductsAutomobiles,motorcycles,engines,transmissions
Production output
Increase2.79 million vehicles (2023)[2]
RevenueIncreaseUS$60.40billion(2022)[3]
IncreaseUS$945 million(2022)[3]
Total assetsIncreaseUS$81.29 billion(2022)[3]
Total equityIncreaseUS$13.01 billion(2022)[3]
OwnerLi Shufu
Number of employees
131,517 (2022)[3]
Subsidiaries
List
Chinese name
Simplified ChineseChiết Giang cát lợi cổ phần khống chế tập đoàn công ty hữu hạn
Traditional ChineseChiết Giang cát lợi cổ phần khống chế tập đoàn công ty hữu hạn
Transcriptions
Standard Mandarin
Hanyu PinyinZhèjiāng Jílì Kònggǔ Jítuán Yǒuxiàn Gōngsī
Websitezgh
Footnotes / references
inconsolidated financial statement;shareholders' equity figure excludedperpetual bond[11]

Zhe gian g Geely Holding Group Co., Ltd. (ZGH),commonly known asGeely Holding(/ˈdʒiːli/;Chinese:Cát lợi cổ phần khống chế;pinyin:Jílì Kònggǔ), is a Chinesemultinationalconglomerateheadquartered inHangzhou, Zhe gian g.The company isprivately ownedby Chinese entrepreneurLi Shufu,and mainly engaged in theautomotive industry.

Geely was founded 1986 as arefrigeratorparts company, before transitioning tomotorcyclesin 1994 and entering the automotive industry in 1997. ZGH as a holding company was founded in 2003. As of 2023,the company ranks 225 in the 2023FortuneGlobal 500list of the world's largest companies.[3]In 2023, the group produced a total of 2.79 million vehicles globally, including 980,000plug-in electric vehicles.[2]

The company manufactures and sells vehicles under the brands of Geely andLynk & Co,which are part of theGeely Auto Groupbusiness unit, along with its subsidiaries andjoint venturessuch asZeekr,Volvo Cars,Polestar,Proton,SmartandLotus,as well as commercial vehicles under theLondon EV Company,Radar AutoandFarizonbrands. It produces motorcycles under its subsidiariesZhe gian g Geely Ming Industrial(Jiming and Geely),Qian gian g Motorcycle(QJMotor and Keeway), andBenelli.It also holds a 17% stake inAston Martinand owns half ofHorse Powertrain,an engine manufacturing joint venture withRenault.[12][13]

Geely is a phonetictransliterationof the company's native nameCát lợi(pinyin:Jílì), which means "auspicious" or "propitious" inChinese.[14]

Overview

[edit]

Geely entered the automotive industry in 1997, but only officially received national production license in November 2001.[15]Following a restructuring of Geely, ZGH was established as a holding company largely owned by Li Shufu in March 2003. ZGH acquired the Swedish passenger car makerVolvo CarsfromFord Motor Companyin 2010.[16]It completed the acquisition of British taxi makerManganese Bronze Holdingsin 2013 and restructured it intoLondon Electric Vehicle Company.[17]In 2017, ZGH acquired a majority stake in British sports carmakerLotus Carsin 2017.[18]

ZGH's business is divided into five business units:Geely Auto Groupwhich includes the brands Geely Auto, Lynk & Co, andProton Holdings;Volvo Car Group which includes the brands Volvo Cars andPolestar;Geely New Energy Commercial Vehicle Group which include the brands London Electric Vehicle Company and Yuancheng (Farizon); Geely Group (New Business) which includes the brands Caocao,Terrafugia,Qian gian g Motorcycle,Joma,and other new businesses; and Mitime Group (Minh thái tập đoàn;Míngtài Jítuán) which includes ZGH educational institutions,motorsportsbusiness, and tourism business.

Its global operations span the automotivevalue chain,fromresearch and developmentand design to production, sales and service.[19]

Zhe gian g Geely Holding automotive divisions[20]
Subsidiary Business unit Subsidiaries/brands
Geely Automobile Holdings Geely Auto Group
Zeekr Intelligent Technology Zeekr[22]
Volvo Car Group
Lotus Group
  • Lotus Cars(JV)
  • Lotus Technology(JV)
Qizheng New Energy Vehicle Livan[24]
Smart Automobile Smart(JV)[25][26]
LEVC London Electric Vehicle Company
Radar New Energy Automobile Radar Auto
Geely New Energy Commercial Vehicle Group
  • Farizon Auto
  • Hanma Technology(JV)
  • Ou Ling Auto
  • Green Intelligent Link
  • Oneworld Technology
(JV) = joint venture

History

[edit]
See also:Geely Auto § History

Geely was established in 1986 inNingbo, Zhe gian gbyLi Shufuas a refrigerator parts manufacturer located inTaizhou, Zhe gian g.To start the company, Li Shufu had to borrow funds from his family.[14][27]In 1994, Geely transitioned into themotorcycleindustry by acquiring astate-run firm,and started producing China's firstscooter.[28]

In 1997, Geely completed the construction of relevant factories and initial investment preparations to enter the automobile industry. This made Geely the first private automobile company in China, whereas other carmakers arestate-ownedenterprises such asChery.Geely's first car, theGeely Haoqing,rolled off the assembly line inLinhai, Zhe gian gon 8 August 1998. However, Geely did not obtain its national production license until 9 November 2001, which delayed mass production until 2002.[29]By 2002, the brand was ranked among the top ten in the Chinese automobile market.[29]

In 2002, Geely was restructured from being a family-operated entity to ajoint-stock companymanaged by professional management. On 24 March 2003,Zhe gian g Geely Holding Group Co., Ltd.(ZGH) was established with a registered capital ofCN¥930 million.[30]In January 2004, Li Shufu bought controlling shares in Guorun Holdings Co., Ltd., a company listed on theHong Kong Stock Exchangeunder the trading code 0175HK.[31]In March 2004, Guorun was renamedGeely Automobile Holdings Limited,a company under ZGH, retaining the same trading code.[32]This strategy was seen as Geely's "backdoor" entry into the Hong Kong stock market, providing a means to raise funds for the company.[33][34][32]

In 2006, Geely bought a 19.97 percent equity stake in British companyManganese Bronze Holdings,the manufacturer of Londonblack cabs.Both companies started a£53 millionjoint venture to produce the black cabs in China, with Geely holding 52 percent and the British company 48 percent.[35][36]The company has since reduced costs by producing parts in China. In February 2013, ZGH fully acquired Manganese Bronze Holdings for£11.04 million,after the British company enteredadministrationdue to lack of funding.[37][38]ZGH established a new company under its British subsidiary called The London Taxi Corporation, later renamedLondon Electric Vehicle Company,to resume assembly of the London black cab inCoventry,UK.[39][40]

In 2009, Geely bought an Australian transmission companyDrivetrain Systems International(DSI), at that time the second largestautomatic transmissionmanufacturer forA$70 million.In 2014, Geely sold 90% of its stake in DSI to multiple other Chinese companies after the company suffered losses.[41]

Purchase of Volvo Cars (2008–2010)

[edit]
Volvo Cars Chinese headquarter inHangzhou,next to Geely's headquarter

Following continuing losses in that year,Ford Motor CompanyofferedVolvo Carsfor sale in December 2008.[42]On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was ZGH.[43][44]On 23 December 2009, Ford confirmed the terms of the sale to ZGH had been settled. A definitive agreement was signed on 28 March 2010 forUS$1.8 billion.TheEuropean Commissionand China'sMinistry of Commerceapproved the deal on 6 and 29 July 2010, respectively. The deal closed on 2 August 2010 with Geely paying $1.3 billion cash and a $200 million note.[45][46]At the time of the purchase, is the largest overseas acquisition by a Chinese automaker.[47]

This acquisition facilitated Volvo's recovery and brought significant technological and managerial advancements to Geely. Under Geely ownership, Volvo Cars has developed a new line of 3- and 4-cylinder diesel and petrol engines to replace larger engines. It has also developed a newvehicle platformcalled theScalable Product Architecture (SPA).Sales reached 500,000 vehicles in 2015 for the first time in the brand's history, and continued to over 700,000 in 2023.[48][49]Both company jointly developed engines and platforms, notably theCompact Modular Architectureplatform that is used by Volvo, Geely and Lynk & Co vehicles. Improving technical expertise and a sophisticated production management system led to a significant sales surge for Geely from 2010 onwards.[50]

Further acquisitions and brand establishments (2016–present)

[edit]

In October 2016, Geely Auto released its new brand calledLynk & CoinBerlin,Germany, which is intended to bridge the gap between Geely and Volvo brands. The brand was launched with three production models, all based on theCompact Modular Architecture(CMA).[51]In August 2017, ZGH, Geely Automobile Holdings and Volvo Car Group signed an agreement at Geely Auto'sHangzhou BayR&D Center to establish the Lynk & Co joint venture. Geely Auto controls 50% of Lynk & Co, Volvo Cars held 30%, and ZGH held the remaining 20%.[52]

In May 2017, ZGH purchased a 51% controlling-stake inLotus Carsfrom its owner,DRB-HICOM,the largest shareholder of Malaysian carmakerProton Holdings.[53][6]The remaining 49% were acquired by Etika Automotive, a holding company of Proton's major shareholderSyed Mokhtar Albukhary.[54]Proton had owned Lotus since 1996, and largely struggled to turn the fortunes of the sports car maker around. ZGH also purchased a 49.9% stake in Proton Holdings, which was agreed on 23 June 2017 and finalised on 29 September 2017.[55][56]The purchase was seen to facilitate future export growth inright-hand drivemarkets, and making inroads into the lucrativeASEANregion.[57][58]Proton confirmed that it would not downsize its workforce following its deal with Geely.[59]

In July 2017, the company purchasedTerrafugia,an American maker offlying cars.[60]In November 2017, ZGH announced completion of the Terrafugia acquisition, including approval from all relevant regulators.[61]

In October 2017, Volvo Cars and ZGH announced thatPolestar,a performance and tuning brand owned by Volvo Cars, would become a standalone brand focusing on electric cars.[62]Polestar introduced its first product, thePolestar 1coupé on 17 October 2017. The car was produced at the Polestar Production Centre inChengdu,China.[63]Following aninitial public offering,Polestar shares began trading on theNasdaqexchange under the symbol PSNY on 24 June 2022.[64][65]

In December 2017, ZGH invested €3.25billion into Swedish truck and construction companyVolvo Group,a former parent company ofVolvo Cars.[66]The deal made ZGH the biggest shareholder by number of shares with an 8.2% stake, and second by voting rights, with 15.6%.[66]

In September 2019, ZGH led a round of private funding forVolocopterthat raised $55million for the company. Volocopter's other private investors also include Daimler AG which owns a stake in the company.[67]

In late July 2020, it was announced that the Xingma Group had agreed to transfer a 15.2% stake of its shares in theMa'anshan-based heavy truck manufacturerHualing Xingmato Geely New Energy Commercial Vehicle Group, a wholly owned subsidiary of ZGH. After the transaction, Geely New Energy Commercial Vehicle Group would become thede factocontrolling shareholder of Hualing Xingma.[68]

In February 2020, Volvo Cars and Geely started formal discussions about a proposedmergerof both businesses. In the existing arrangement, Volvo Cars has been allowed autonomy with its resources despite being fully owned by ZGH.[69]These merger talks were later halted, and 18% of Volvo Cars shares were listed on theNasdaq Stockholmstock exchange in October 2021.[70]

InMarch 2021, ZGH launched theZeekrbrand for premium electric vehicles. Its first model, theZeekr 001was launched in April 2021, and deliveries began in October 2021.[71]In May 2024, Zeekr filed itsinitial public offering(IPO) on theNew York Stock Exchange.Zeekr raised aroundUS$441 million,making it the largest IPO of a Chinese company since 2021.[72]

In February 2024, Volvo Cars announced its plan to reduce its stake in Polestar by the third quarter of 2024 from currently 48.3% to around 18% by ceding it to ZGH.[73][74]

Shareholding and partnerships with Daimler/Mercedes-Benz (2018–present)

[edit]
Smart #1andSmart #3electric cars in a showroom in a mall inShenzhen

In 2018, Li Shufu through his investment company Tenaciou3 Prospect Investment Limited purchased a 9.7% stake in Daimler AG (currentlyMercedes-Benz AG), owner of theMercedes-BenzandSmartbrands.[75]As of 2024,Li Shufu is the second largest Mercedes-Benz AG shareholder afterBAIC Group.[76]

In January 2020, ZGH and Daimler AG announced a 50-50 joint venture to develop and operate the Smart brand as a global electric vehicle brand. The venture, later named Smart Automobile Co., Ltd. is headquartered inNingbo, Zhe gian g.It has a registered capital ofCN¥5.4 billion, with each company contributing CN¥2.7 billion.[77]The new all-electric Smart model from this joint venture was launched globally in 2022 as theSmart #1,previously showcased as theConcept #1at the 2021 Munich Motor Show.[78]Smart electric vehicles from the partnership are based on theSustainable Experience Architecture(SEA)electric vehicle platformdeveloped by Geely.[79]

Renault partnerships (2021–present)

[edit]

In August 2021, ZGH through its subsidiary Geely Auto formed astrategic partnershipwithRenault.[80]In January 2022, the two companies signed an agreement by which Renault's South Korean subsidiary,Renault Korea Motors,would produce vehicles based on GeelyCompact Modular Architecture platform,[81][82]initially intended for the domestic market. As of January 2022,production was slated to start by 2024.[83]In May 2022, Renault said a Geely subsidiary was set to acquire a 34% stake ofRenault Korea Motorsthrough capital increase as part of their partnership, although the company would continue to be majority owned by Renault and a consolidated subsidiary of it.[84][85]In November 2022, Renault said it plans to combine its powertrain production and development operations (including internal combustion engines and hybrid systems) with Geely's into a joint venture holding company with both as co-owners.[86][87]The joint venture was officially established in late May 2024 asHorse Powertrain Limited,headquartered inLondon,United Kingdom.[88]

Baidu partnership (2021–present)

[edit]
Main article:Jidu Auto

In January 2021, ZGH announced a deal to create an electric vehicle joint venture together withBaidu,a Chinese multinational technology company specializing in Internet-related services, products, and artificial intelligence (AI). Baidu would develop the electric car's software while Geely would manufacture the car.[89][90]The companies formedJidu Autoin the same year, combining elements of both company names. Later, in August 2023, they launched the Ji Yue brand, with Geely owning 65% and Baidu 35%. Ji Yue is a subsidiary of Geely Group that was formed to circumvent restrictions on car manufacturing qualifications. Jidu Auto now focuses on technology solutions, including product design and AI development, for Ji Yue vehicles.[91][92][93]

Automotive divisions and products

[edit]

Automobile brands

[edit]

Geely

[edit]
Main article:Geely Auto

Geely Auto is Geely Group's original and mainstream brand, primarily sold in China and select overseas markets. It has two electric vehicle product line, theGeely Geometryfor entry-level EV andGeely Galaxyfor premium EV/PHEV.

Lynk & Co
[edit]
Main article:Lynk & Co

Lynk & Co (Chinese:Lãnh khắc;pinyin:Lǐng kè) is a Chinese–Swedish joint venture brand that was formed in 2017.[94]It is owned 50% by Geely Auto, 30% by Volvo Cars, and 20% by ZGH, and uses technology developed jointly by Volvo Cars and Geely Auto.

Polestar

[edit]
Main article:Polestar

Polestar is a publicly traded electric car brand established in Sweden under the Volvo Cars Group. Polestar was initially 50.5% owned by ZGH and 49.5% by Volvo Cars.[95]

Zeekr

[edit]
Main article:Zeekr

Zeekr (Chinese:Cực khắc;pinyin:Jí kè;lit.'extremekrypton') is a premium battery electric vehicle brand of ZGH partly owned by Geely Automobile Holdings. The brand was founded in 2021 as an offshoot of Lynk & Co, as its first vehicles were meant to be Lynk & Co models.[96]The company is listed on theNew York Stock Exchangesince May 2024.[72]

Livan/Maple

[edit]
Main articles:Livan AutomotiveandShanghai Maple

The Maple brand name originated withShanghai Maple Automobile,a Geely subsidiary established in 1999 and phased out in 2010.[97]The brand was temporarily revived in 2020 by launching its first EV, theMaple 30X.In 2022, Geely launched the joint venture betweenLifanand Maple calledLivan(Chinese:Duệ lam;pinyin:Ruìlán), and the previous Maple products were reconsolidated into Livan.

Lotus

[edit]
Main article:Lotus Cars

Lotus Cars is a British carmaker established in 1948 that produces sports and racing car. It is owned 51% by ZGH since 2017, while the rest is owned by Etika Automotive.[98]

Volvo Cars

[edit]
Main article:Volvo Cars

Volvo Cars is owned 78.7% by ZGH (post Volvo Cars IPO).[7]ZGH acquired Volvo Cars from Ford Motor Company in 2010.[16]

Farizon

[edit]

Yuancheng Auto (Chinese:Viễn trình ô tô;pinyin:Yuǎnchéng Qìchē) or Farizon Auto was formed in 2016 to focus on the development and sales of commercial vehicles in China and has launched several long-range capable truck and bus solutions. The company raised over $300 million in a Pre-A Round in October 2022 led byGLP's investment arm Hidden Hill Capital,[99]and $600 million in aSeries A funding roundin July 2023, led by Boyu Capital and Yuexiu Industrial Fund.[100]The factory was later acquired by the Chinese electric commercial vehicle company Yuancheng Auto, which in conjunction with Myoung Shin. The company plans to manufactureCKD-made electric trucks for the China market.[101]On May 29, it was announced that it would give up production of finished vehicles and switch to the automobile parts and automation equipment business.[102]

Products include:

  • Farizon C8E/ C10E/ C12E – city buses
  • Farizon U11E/ U11F – tour buses
  • Farizon Xinghan G – electric and hydrogen heavy duty trucks
  • Farizon Xingzhi H8E – light duty truck
  • Farizon Xingzhi H8M – light duty truck
  • Farizon SV (Supervan) – electric van
  • Farizon E200
    Farizon E200
  • Farizon E200S
    Farizon E200S
  • Farizon Xingzhi H8E
    Farizon Xingzhi H8E
  • Farizon SV
    Farizon SV
  • Farizon E5L
    Farizon E5L
  • Farizon E6
    Farizon E6
  • Farizon Xingxiang
    Farizon Xingxiang
  • A Farizon bus
    A Farizon bus

Farizon also has a sub-brand called Ouling (Chinese:Âu linh) selling gasoline-powered lower end micro trucks.

  • Ouling Fengrui F3
    Ouling Fengrui F3

Radar Auto

[edit]
Main article:Radar Auto

Radar Auto (Chinese:Radar ô tô;pinyin:Léidá qìchē) is a battery electric pick-up truck brand owned by ZGH. The brand's first vehicle, theRadar RD6,was unveiled in 2022.[106]The Radar name stands for Rational, Alone, Discovery, Accompany, and Romantic.

  • Radar RD6
    Radar RD6

LEVC

[edit]
Main article:London EV Company

London Electric Vehicle Company(LEVC) is a brand owned by ZGH that produces and sells electricblack cabs.It adopted its current name in 2017 to reflect its new mission of developing and producing electric commercial vehicles. It was previously known as The London Taxi Company, which has roots fromManganese Bronze Holdings,the original manufacturer of black cabs that Geely acquired in 2013. With a new factory inAnsty Park,near Coventry, it has begun production of a new generation ofzero-emission-capable new taxi vehicle in late 2017.[107]

  • LEVC TX
    LEVC TX
  • LEVC VN5
    LEVC VN5

Ji Yue / Jidu Auto

[edit]
Main article:Jidu Auto

Jidu Auto(Chinese:Tập độ) is a joint venture between ZGH andBaiduthat would be engaged in the production of electric vehicles in different segments starting in 2022.[108]Jidu Auto is owned 55% by Baidu and 45% by Geely.

TheJi Yue(Chinese:Cực càng) brand was established in August 2023 as the second collaboration between ZGH and Baidu. Ji Yue is 65% owned by ZGH and 35% by Baidu, making it a subsidiary of ZGH. Due to Chinese government policies, Baidu as the controlling company of Jidu, could not obtain the qualification to manufacture cars. Establishing Ji Yue allowed ZGH to be the controlling company, circumventing these restrictions. Jidu Auto has since become a technology solutions company focused on developing AI driving technology for Ji Yue and will no longer operate as an independent car brand.[93][109]With the launch of the new Ji Yue brand, the previous Jidu Robo-01 was renamed Ji Yue 01, and the Ji Yue brand inherited the logo originally created for Jidu Auto.[110]

Proton

[edit]
Main article:Proton Holdings

Proton is a national car brand of Malaysia, established in the 1980s at the behest of the government and later reverted to private ownership underDRB-HICOM.[111]Since 2017, the brand is owned 49.9% by ZGH and 50.1% by DRB-HICOM. Its first Geely-based vehicle, also the carmaker's first-ever SUV, theProton X70was introduced in Malaysia in December 2018. It is based on first-generationGeely Boyue.[112]

In July 2023, after the internal restructuring in Geely Group, the Proton brand was consolidated into the balance sheets of Geely Group.[113]

Smart

[edit]
Main article:Smart (marque)

In 2020, Mercedes-Benz and ZGH established theSmartbrand as a global joint venture, targeting at producing battery electric vehicles in China and selling it globally.[114]In 2022, the joint venture launched its first modelSmart #1.

Motorcycle brands

[edit]

Qian gian g Motorcycle

[edit]
Main article:Qian gian g Motorcycle

Qian gian g Motorcycle is one of the largest manufacturers of two-wheeled vehicles in China. Since September 2016, the majority shareholding (29.8%) of the company has been controlled by the Geely Group. The vehicles are sold under four brands: QJiang, QJMotor,Benelli,Keeway Motors and KSR Moto.

Benelli

[edit]
Main article:Benelli (motorcycles)

Benelli is a subsidiary that produces motorcycles and scooters. Design, development and marketing activities are carried out at the Benelli QJ headquarters inPesaro,Italy, with production occurring inWenling,China, for sale globally.

Discontinued brands

[edit]
  • Englon

International investments and holdings

[edit]

Mercedes-Benz Group(9.69% stake)

  • Li Shufu,the founder and chairman of Geely, acquired a 9.69% stake of Mercedes-Benz Group in February 2018, making it the company's largest single shareholder.[115]

Aston Martin(17% stake)

Volvo Group(6.8% stake)

  • In 2017, Geely acquired an 8.2% stake of Volvo AB, which is also about 15% of votes.[122][123]
  • In January 2024, Geely announced to reduce its holdings in Volvo Group by 685 million USD. The stake has been lowered from 8.2% to 6.8%. Despite the reduction, Geely remains the second-largest shareholder in Volvo Group.[124]

Renault Korea(34.02% stake)

  • In 2022, Geely invested over US$200 million to acquire a 34.02% stake in a joint venture in South Korea between Renault and theSamsung Group.The company plans to produce vehicles based on the Geely'sCompact Modular Architecture platform,initially intended for the Korean domestic market.[125]

Horse(50% stake)

Drivetrain Systems International(divested)

Non-automotive businesses

[edit]

Geely Technology Group

[edit]
  • CAOCAO(Tào Tháo đi ra ngoài)– CAOCAO ride-hailing service was developed by Hangzhou YouXing Technology Company and majority owned by ZGH. It is the first Chinese new energy focused mobility service.
  • Terrafugia–Terrafugiawas founded in 2006 targeting at roadable aircraft. The company was acquired in full by ZGH in 2017.
  • Zhe gian g Qian gian g Motorcycle Group Co–Qian gian g Motorcycle(Tiền giang motor) was majority acquired by ZGH in 2016. The company is one of the largest producers of motorcycles in China and owns several renowned brands including Italy'sBenelli.It is also known for its lithium battery technology.[128]
  • Geespaceplans to create a network of low earth orbit satellites that will send precise positioning information to self-driving cars.[129]

Mitime Group

[edit]

Mitime Groupwas established in 2004 and is affiliated to ZGH. It focuses on investment and operation management of higher education, sports, cultural tourism and other businesses. The group consists of three departments: Mitime Speedpark, Mitime Sports and Mitime Cultural Tourism.[130]

  • Mitime Speedpark – Investment and development of motor speedparks around the world. They have already constructed multiple race circuits in China and abroad and currently operate tracks in Ningbo, Chengdu, and North America.
  • Mitime Motorsports – Mitime constructs and operates race tracks for automobiles, motorcycles, and karts around the world. Mitime also organizes motorsport events such as China F4 Championship.
  • Mitime Tourism – Mitime facilitates tourism and manages hospitality services around its tracks.

Meizu

[edit]
Main article:Meizu

In June 2022, Geely acquired a majority stake of Meizu, a Chinese consumer electronics manufacturer based inZhuhai,Guangdong.[131]

Geely Talent Development Group

[edit]
Beijing Geely University

Previously known as Mitime Education, a subsidiary of Mitime Group, the Geely Talent Development Group is the education branch of Geely to cultivate talents for the automotive industry. Geely has established 9 higher education institutions and more than 10,000 student graduate from Geely's schools each year.

  • Beijing Geely University – a private university located inBeijing
  • Xiangtan Institute of Technology
  • Zhe gian g Automobile Vocational and Technical College
  • Hunan Geely Automobile Vocations and Technical College

Technologies

[edit]

Vehicle platforms

[edit]

Many of Geely's subsidiaries produce vehicles using shared architectures. Some examples include:

Production facilities

[edit]
Part of an assembly line at a Geely plant inNingbo,Zhe gian g, in 2011

Headquartered inHangzhou,Zhe gian g,Geely has production bases inLanzhou,Gansu(completed in 2006, Geely construction in the region continued as of August 2010 either for expanding the existing facility or for a new semi-completeknock-downfactory);Xiangtan,Hunan;[132]an unnamed location 40 minutes south ofShanghai;[133]Jinan,Shandong;and atLinhai,Luqiao,andNingboin Zhe gian g.[134]

There are overseas factories assemble Geely models probably from semi-complete orcomplete knock-down kits.[citation needed]Such facilities are or have been located inIndonesia,Sri Lanka(in collaboration withMicro Cars),[135][136]Malaysia,Russia(assembly controlled by local firmDerways),Belarus(BelGee),[137]Azerbaijan(NAZ),Tunisia,[138]andUkraine.These locations are not necessarily affiliated with or owned by Geely.

Sales

[edit]

Figures

[edit]
Geely domestic sales in China, 2003–2020[139]
Calendar year Sales Growth Market share
2003 73,779 N/A Increase3.44%
2004 98,283 Increase33.21% Increase3.99%
2005 143,279 Increase45.78% Increase4.45%
2006 205,346 Increase43.32% Increase4.89%
2007 219,512 Increase6.90% Decrease4.16%
2008 221,786 Increase1.04% Decrease4.08%
2009 329,018 Increase48.35% Decrease3.98%
2010 414,465 Increase25.97% Decrease3.70%
2011 432,752 Increase4.41% Decrease3.52%
2012 491,445 Increase13.56% Increase3.72%
2013 549,393 Increase11.79% Decrease3.37%
2014 425,773 Decrease-22.50% Decrease2.31%
2015 532,384 Increase25.04% Increase2.64%
2016 778,896 Increase46.30% Increase3.30%
2017 1,251,656 Increase60.70% Increase5.16%
2018 1,382,119 Increase10.42% Increase5.96%
2019 1,255,480 Decrease-9.16% Decrease5.93%
2020 1,134,433 Decrease-9.50% Decrease5.77%
Geely Group sales[140][141][142][143][144][145]
Year Total Geely Automobile Holdings Livan/Maple Zeekr Volvo Cars Group LEVC Farizon Lotus Radar Ji Yue Smart[146][147] Proton[148] Zhidou
Geely Geely Geometry Geely Galaxy Lynk & Co Volvo Polestar
2010 425,194 425,194 - - - discontinued - - - - - - - - - - -
2011 857,006 452,161 - - - - 404,735 - - - - - - - - -
2012 905,083 527,918 - - - - 377,165 - - - - - - - - -
2013 979,691 617,484 - - - - 362,207 - - - - - - - - -
2014 878,818 499,165 - - - - 379,653 - - - - - - - - -
2015 1,025,287 578,517 - - - - 421,374 - - - - - - - 25,395
2016 1,333,077 809,079 - - - - 503,706 - - 1,961 - - - - - 20,292
2017 1,938,057 1,273,837 - - 6,012 - 536,905 - - 6,228 1,600 - - - 70,991 42,484
2018 2,276,846 1,401,819 - - 120,414 - 666,586 - 1,293 5,024 1,630 - - - 64,744 15,336
2019 2,194,145 1,245,168 12,662 - 128,066 - 694,831 - 2,507 7,313 1,320 - - - 100,183 2,095
2020 2,150,134 1,166,920 10,300 - 175,456 2,620 - 667,159 9,853 1,118 5,265 1,378 - - - 109,716 349
2021 2,189,409 1,046,186 55,320 - 220,516 4,945 6,007 698,693 21,940 392 18,980 1,710 - - - 114,708 12
2022 2,312,613 975,391 149,389 - 180,127 56,140 71,941 615,121 51,500 2,508 59,211 641 undisclosed - 9,212 141,432 discontinued
2023 2,790,000 1,034,737 191,346 83,497 220,250 38,001 118,685 708,716 54,600 undisclosed 84,312 6,970 undisclosed 774 70,000 154,611

Other Activities

[edit]

In 2015, the manufacturer announced that it would invest $45.5 million over three years in theIcelandiccompanyCarbon Recycling Internationalto "collaborate on the deployment of renewable methanol fuel production technologies and vehicles running 100% onmethanolin China, Iceland, and other countries. "[149]

See also

[edit]

References

[edit]
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