AutoBeta(AutoBeta.net)08/18 Report--

On August 18, Geely Holdings released interim results for 2021, showing revenue of 45.032 billion yuan in the first half of 2021, an increase of 22.30% over the same period last year, and net profit of 2.409 billion yuan, up 3.84% from the same period last year.

The increase in revenue and net profit was mainly due to an increase in car sales. Data show that Geely's cumulative sales in the first half of 2021 were 630200, up 18.81 per cent from a year earlier. In terms of specific brands, Geely brand is the main selling brand of Geely cars, with cumulative sales of 508500 vehicles in the first half, an increase of 8.14% over the same period last year. Lecker, as a joint venture between Geely and Volvo, sold 107900 vehicles in the first half, an increase of 96.98% over the same period last year. Geely's new energy brand Geometry sold a total of 13900 vehicles in the first half, up 153.63% from the same period last year.

Geely made a lot of moves in the first half of the year. On January 11th, Baidu and Geely Holdings announced that they would form a smart car company. Baidu said that the newly formed Baidu Automobile Company will target the passenger car market, and Baidu will enter the automobile industry as a vehicle manufacturer, allowing users to buy more advanced smart electric vehicles.

On January 29th, FF and Geely Holdings Group officially announced that the two companies have signed a cooperation framework agreement to cooperate in the areas of technical support and engineering services, and to explore the possibility of a joint venture between Geely and Foxconn to provide contract manufacturing services. At the same time, Geely Holdings Group also participated in a small amount of investment in the listing of Faraday Future SPAC.

On February 24, Geely Holdings issued the latest announcement on the Hong Kong Stock Exchange to announce the latest merger plan with Volvo Group. Geely Holdings said in the announcement that after a detailed study of various merger options, the two sides have found the best merger plan, that is, the two sides will carry out a series of business mergers and cooperation on the basis of maintaining their existing independent company structure.

On April 15, Geely's new new energy brand polar krypton car was officially launched, and the first model, polar krypton 001, was launched at the same time. The new car has launched a total of three models, with a subsidized price of 28.1-360000 yuan, which will be delivered as soon as October.

2021 is the year of Geely Automobile products. It is understood that Geely will launch a number of new cars in the second half of the year. Geely brand will launch a compact car and a compact SUV; Lecker brand will launch a large SUV model based on SPA platform; Geometry brand will launch an A00-class SUV model; from the current known news, Lecker brand new car is Lecker 09, Geely brand compact sedan is the fourth generation Dihao, as for Geely SUV and Geometry SUV models are difficult to judge.

This year is the year of Geely's products, but under the pressure of the continuous spread of the global COVID-19 epidemic, chip shortage, rising raw materials and so on, Geely's performance is not optimistic. Geely CEO Gan Jiayue said electric cars had also been affected by a global lack of cores. Its geometry brand has 10,000 orders that cannot be delivered, and some dealers even start selling exhibition cars. However, Geely maintained its full-year sales target of 1.53 million vehicles. By the first half of the year, Geely had achieved its annual sales target of 41.19%.

In addition, Geely has drawn up a five-year plan for business development: by 2025, it will rank first among Chinese brands in terms of market share, with sales of 3.65 million vehicles (including polar krypton cars), of which smart electric vehicles account for more than 30 per cent. Polar krypton has the top three market share of high-end electric vehicles in the world by 2025, with sales of 650000 vehicles.

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