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On November 4th, Geely Automobile Group signed an agreement with Hungary Grand Automotive Central Europe (referred to as Grande Motor) to enter the European Union (EU) market. Grande Motor will sell Geely's Geometry C electric cars in Hungary, the Czech Republic and Slovakia, making Geometry the first wholly-owned sub-brand of Geely to enter the European market. According to the agreement, Geometry C electric cars owned by Geely will become the main models of Geely's plans to go out to sea, and the first batch of vehicles will be sold in the three major countries in the first half of 2023.

Geometry Automotive belongs to Geely Automobile Group's middle and high-end new energy brand, which is a first-level sub-brand in parallel with Geely brand and Lecker brand. On April 11, 2019, the high-end pure electric brand Geometry Automobile was launched in Singapore. According to the official website of Geometry Automobile, the models on sale include Geometry A Pro, Geometry C and Geometry EX3 Kung Fu Bull. Among them, Geometry An and Geometry C went on sale in 2019, and Geometry A currently sells for 12.68-207800 yuan; Geometry C sells for 12.98-207800 yuan; and Geometry EX3 Kung Fu Bull goes on sale in November 2021 and currently sells for 6.88-78800 yuan, making it the cheapest model under Geometry Motors. Official figures show that Geely sold 104252 vehicles in the first three quarters of 2022, with new car traffic insurance data showing that Geometry E sold 9282 vehicles in the first three quarters and Geometry C sold 8480 vehicles.

Geometry C, as an important model of Geely in the European market, has also had good sales data in the overseas pure electricity market. In November 2021, Geometry C was listed in Israel and won 8000 orders within five months. according to statistics, by the end of the first half of 2022, Geometry C sales accounted for 22% of Israel's pure electricity market share. In February this year, Geely reached a cooperation agreement with Norway Gill Group for the export of Geometry C new energy vehicles to Norway, and obtained the EU WVTA vehicle certification and European market sales license.

From the perspective of Geometry C's sea performance, Geometry C has a reputation in the overseas market as well as in the domestic market, but Geometry has not officially joined the European Union before. The official contract between Geely Automobile Group and Grande Motor also represents Geely's formal expansion of the dealer network to the EU market, while Geometry cars will be sold in the EU.

Geely Automobile is an early domestic car company to carry out overseas business, and the European market is an important battleground for its global layout. In March 2010, Geely formally acquired a 100% stake in European luxury brand Volvo for $1.8 billion. With the support of Volvo, Geely began to expand the European market. Geely's Lectra released its "European Strategy" in 2018, and Leike 01 entered the European market in September 2020. In June 2017, Geely signed a final agreement with Malaysia's DRB-HICOM Group to acquire a 49.9% stake in DRB-HICOM 's PROTON and 51% of the European brand Lutes Group. in addition, Geely also acquired a 50% stake in Daimler's small car brand Smart. In September, Geely again reported that it would buy British ultra-luxury brand Aston Martin, and a series of brand acquisitions further expanded Geely's influence in the European market.

According to relevant data, Geely ranked ninth with European sales of 320000 vehicles in 2021, followed by Suzuki, among which Jixing became the best-selling Chinese pure electricity brand in Europe with annual sales of 18000 vehicles. According to statistics, as of October, Lectra's nine Lecker experience stores in Europe have more than 150000 "subscription" members. With Geometry entering the EU market, Geely's market share in Europe may expand. Geely said that internationalization is the key to the company's strategic layout, and Geometry's entry into the CEE market is an important step in its globalization strategy.

In the past two years, the export volume of domestic new energy vehicles has shown a blowout growth. according to data from the China Automobile Association, from January to September in 2022, China's cumulative vehicle exports increased by 55.5% to 2.117 million vehicles compared with the same period last year, of which the export of new energy vehicles more than doubled to 389000. At present, the export of new energy vehicles continues to maintain a strong growth trend, under this background. After entering 2022, both traditional car companies and new car-building forces have entered the European market on a large scale. Not only Geely, but also BYD and Xilai Motors and other car companies have set up the European market. In early October, SIXT, Germany's largest car rental company, announced that it had signed an intentional cooperation agreement with BYD to purchase 100000 BYD Atto 3 series new energy vehicles by 2028. On October 17th, BYD unveiled three electric models, Tang, Han and Yuan PLUS, at the Paris Motor Show. On October 8th, at the NIO Berlin 2022 event in Berlin, Xilai announced that it would enter four European countries, Germany, the Netherlands, Denmark and Sweden, and launch three models: ET5, ET7 and EL7 (domestic ES7). Among them, ET7 will be delivered on October 16, ES7 and ET5 will start delivery in January 23 and March 2023, respectively.

As for the reasons for the growth of domestic new energy vehicle exports, Cui Dongshu, secretary general of the Federation of passengers, said that the main reason is the rapid rise of the European market, which has overtaken the Asian market to become the largest export market of new energy vehicles since 2021. With regard to the future sales performance of overseas markets, Citic Securities expects that overseas sales of Chinese car companies may reach 3 million in 2025 and 5.5 million in 2030, with independent brands and new forces accounting for 25% and 40% of overseas sales in 2030.

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