AutoBeta(AutoBeta.net)03/23 Report--

According to the Federation of passengers, retail sales of domestic passenger cars in 2020 were 19.288 million, down 6.8% from the same period last year, mainly due to the stagnation of domestic car production and sales caused by the epidemic at the beginning of the year, but overall, the performance of the passenger car market in 2020 was slightly better than that in 2019.

In this context, the performance of head enterprises better confirms this point. On March 23, Geely released its annual results, showing operating income of 92.1 billion yuan in 2020, down 5% from the same period last year, and net profit of 5.57 billion yuan, down 33% from the same period last year. In terms of sales, Geely accumulated sales of 1.32 million vehicles in 2020, down 3% from the same period last year. Although there was a decline, it still achieved the adjusted sales target and won the first place among domestic passenger car manufacturers for four consecutive years.

In terms of specific models, Boyue, New Dihao and colorful Yue all sold more than 100000 models, of which 240811 were Boyue, 223369 and 124456 respectively. For high-end brands, Lectra sold 175000 vehicles this year, up about 37 per cent from a year earlier. It is understood that Geely's sales target is 1.53 million vehicles in 2021, an increase of 16% over the same period last year.

It is not difficult to see that although a number of Geely data showed a decline, based on the impact of the epidemic on the market in the first half of last year, Geely is relatively stable in terms of operating revenue, profits and sales.

In order to actively promote pure electric cars, Geely also set up a "polar krypton company". On March 23, Geely entered into a framework agreement with Geely Holdings to form a joint venture, in which Geely Motor holds 51% and Geely Holdings Group 49%. The new company plans to inject 2 billion yuan in cash, with Li Shufu as chairman of polar krypton and an Conghui as CEO of polar krypton.

Earlier, a number of media reported that Geely was promoting a new high-end brand "Zeekr". According to reports, the Zeekr brand will belong to Geely's latest electric car company "Lingling Technologies". In the future, the brand will launch new brand models based on the vast architecture of Geely's newly developed SEA. In response to the above report, Geely responded "will be released in due course."

Today, Geely announced the establishment of a joint venture with Geely Holdings, which also confirmed the previous media reports. It is understood that the first extreme krypton model, based on SEA's vast intelligent evolution experience architecture, will be scheduled for the Shanghai auto show and will be delivered in the fourth quarter. Polar Krypton plans to introduce at least one new product to the market every year for the next five years.

At present, Geely's new energy brand is mainly Geometry cars, but Geely is unlikely to rely on Geometry cars to hit the high-end new energy vehicle market, and consumers' image of Geometry brand has been formed. To this end, Geely plans to launch a new high-end new energy brand "Polar Krypton" to compete for high-end brands such as Tesla, Dongfeng Lantu and SAIC Zhiji, while improving the layout of market segments.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat