Geely Holding Group Sets Ambitious Targets for 2027
Rapid Expansion Ahead
China’s Geely Holding Group has announced an ambitious plan to sell over 5 million vehicles annually by 2027, marking a significant 79% growth from 2023. This goal would catapult the company into the top 10 automaking groups globally.
Consolidation and Efficiency Drive Growth
To achieve this target, Geely will accelerate the consolidation of its sprawling brands and improve efficiency. The group has already made significant progress, selling 3 million vehicles in the first 11 months of 2024, a 20% increase compared to the same period in 2023.
Streamlining Brands for Success
Geely will consolidate its passenger car brands into two units: Geely Auto, targeting the mass market, and Zeekr Technology, focusing on premium segments. This strategic move will enable the company to better compete in the market and drive growth.
Aligning Research and Development
The company will also deepen its alignment of research and development in seven key areas, including architecture, smart driving, cockpits, and batteries. This move will eliminate redundant investments and optimize resources, allowing Geely to stay ahead of the competition.
Refocusing on Core Business
Geely’s announcement comes after a series of strategic moves in September to refocus on its core business of automaking. The company had previously expanded into other sectors, including satellites, smartphones, and banking. In November, Geely announced the merger of Zeekr with its sister brand Lynk & Co, marking the first major restructuring move in its planned overhaul.
A New Era for Geely
With its sights set on 2027, Geely Holding Group is poised for rapid expansion and growth. By consolidating its brands, improving efficiency, and aligning its research and development, the company is well on its way to becoming one of the top 10 automaking groups globally.
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