Exceeding the annual target, Geely Automobile sales exceeded 1.68 million in 2023
On January 1, Geely Automobile Holdings Limited (0175.HK) announced sales data for December 2023 and the whole year: passenger car sales in December were 150,453 units, an increase of 3% year-on-year; total sales in 2023 reached 1686,516 units, an increase of about 18% year-on-year, exceeding the annual sales target, and annual sales reached a record high.
In 2023, Geely Automobile Group’s "all-round new" strategic transformation will move from "all-round acceleration" to "all-round deepening". Anchoring the "Intelligent Geely 2025" strategy, Geely’s self-developed chips, low-orbit satellites, intelligent computing centers and other achievements have been implemented one after another, opening a new round of strong product cycles, achieving a two-way breakthrough in brand renewal and value improvement, and the globalization process has also entered a new stage. Give full play to the advantages of systematic coordination strategy, and firmly promote the transformation of new energy, intelligence and globalization. Geely Automobile Group has set a sales target of 1.90 million vehicles in 2024, and new energy sales have increased by more than 66%.
New energy has repeatedly achieved great results, significantly accelerating towards "new"
In 2023, Geely Automobile Group completed the "comprehensive new" strategic layout, the advantages of intelligent electric vehicle manufacturing system strength are highlighted, new energy has repeatedly achieved great results, and the transformation to "new" has accelerated significantly. In December, new energy (including Geely, Lynk & Co, Extreme Krypton, and Ruilan) sold 60,447 vehicles, an increase of about 36% year-on-year, achieving positive year-on-year growth for 11 consecutive months; in 2023, the annual new energy sales volume was 487,461 vehicles, an increase of more than 48% year-on-year.
The new trend technology brand Extreme Krypton delivered 13,476 units in December, an increase of about 19% year-on-year, setting a new high in single-month delivery; a total of 118,685 units were delivered throughout the year, an increase of 65% year-on-year. In 2023, Extreme Krypton’s product matrix accelerated, and Extreme Krypton X, Extreme Krypton 001 FR, and Extreme Krypton 007 were launched one after another. With innovative technology and excellent performance, it continued to refresh the performance, intelligence and safety of pure electric models to new heights. By the end of 2023, the Extreme Krypton brand had delivered more than 190,000 units and maintained a record of "zero spontaneous combustion". At the same time, Extreme Krypton’s sales channels and charging network expanded rapidly. By the end of 2023, Extreme Krypton had established So far, a total of 432 polar krypton charging stations have been built. In 2024, the total number of polar krypton charging stations is expected to reach 1,000 stations; by 2026, the total number of polar charging piles is expected to reach 10,000, realizing the idea of "thousands of stations and thousands of piles".
The new mid-to-high-end new energy series "Geely Galaxy" sold 12,088 units in December, which has exceeded 10,000 units for 6 consecutive months, and the cumulative sales volume exceeded 83,000 units. "Product + Channel" came to users at "Galaxy Speed" and continued to strengthen the "Galaxy High Value Reputation". In 2023, Geely Galaxy launched a total of three new products, of which Geely Galaxy L7 and Geely Galaxy L6 formed a "new generation of ultra-hybrid CP", which became a new explosion on the plug-in track; the first pure electric flagship sedan of the Galaxy series, Geely Galaxy E8, has been pre-sold and will be officially launched in January 2024, bringing "peak value" experience that exceeds expectations for mainstream pure electric users.So far, the number of Geely Galaxy stores has reached 650, and it continues to deepen the "personalized customization and transparent whole process" car purchase service to provide users with a warmer and more comfortable Galaxy experience.
Fashion pure electric series Geometry sold 17,827 units in December; the annual sales reached 191,346 units, an increase of more than 28% year-on-year. In 2023, the Geometry series continued to upgrade and evolve, and the new micro electric series Geely Panda was launched. The market heat continued to rise. In 2023, the total sales reached 109,642 units, ranking among the TOP3 of the A00 micro pure electric market, opening a new situation for Geometry to accelerate the development of the C-end market.Replacement of high-value brand Ruilan Automobile sold 3,900 units in December, an increase of about 27% month-on-month, and 38,001 units in the whole year. In 2023, Ruilan launched the "intelligent rear-drive coupe SUV" Ruilan 7, which formed a dual-engine product strategy with Ruilan 9, ushering in a new chapter of C-end strategic transformation. At the same time, Ruilan has started its journey to sea. In 2023, it has established a standard flagship store in Azerbaijan, and established more than 80 high-quality dealer channels overseas, continuing to explore the international market.
The value of classic products has jumpedOpen a new era of smart boutique vehicles
Under the concept of "building an intelligent boutique car for everyone", Geely has promoted the comprehensive advancement of the classic series of intelligent, electric and energy-saving, making fuel vehicles leap to a new generation. In December, Geely brand (including geometry) sales reached a new high of 107,382 units, an increase of about 6% year-on-year; annual sales of 1309,580 units, an increase of more than 16% year-on-year. So far, the cumulative sales volume of the "China Star" high-end series has exceeded 870,000 units, becoming the "high-value benchmark" of fuel products in China.
The global high-end brand Lynk & Co sold 25,695 vehicles in December, an increase of about 17% year-on-year, and new energy accounted for more than 55%; the annual sales reached 220,250 vehicles, an increase of more than 22% year-on-year, making it the fastest Chinese high-end car brand to break through the scale of one million vehicles. Lynk & Co launched the "world’s strongest hybrid" EM-P super range extension electric solution in 2023, bringing users a new driving experience of "high speed is not soft, long distance is not weak, and off-road is not panicked". It also released Flyme Auto OS, which opened up the handcar interconnection ecosystem. The first two innovative solutions, Lynk & Co 08 EM-P, continued to break through 10,000 sales in December, and continued to grow positively month-on-month. The cumulative sales
In the new energy transformation, the ecological value advantage of the group’s full-stack self-developed new energy technology is becoming more and more obvious. Based on SEA,e-CMA, CMAEvo and other world-class native new energy architectures, GeelyReleased one after another in 2023The world’s first mass-produced 800V lithium iron phosphate ultra-fast charging "BRIC battery",The world’s first high-performance silicon carbide four-motor drive system delivered in mass production, the new generation of V3 charging technology with the highest single gun charging power in the world, the new generation of Raytheon hybrid technology, Aegis battery safety system, EM-P super range extension electric solution, green methanol power vehicleAnd so on.New energyTechnology fully empowers the new generation of intelligent electric boutiques of the group’s brands to lead the same level of products in multiple dimensions such as performance, energy saving, intelligence, comfort and safety.
In the intelligent track, Geely has made in-depth layout in the fields of operating system, intelligent cockpit, on-board chip, autonomous driving, car network connection, low-orbit satellite, intelligent computing center, etc., and has achieved major breakthroughs in many fields in 2023. Industry-leading handcar integration solutions such as Galaxy N OS and LYNK Flyme Auto have been applied to Geely Galaxy series, Lynk & CoWait for the model.To comprehensively enhance the experience of intelligent cockpit use; Geely’s self-developed China’s first car-grade 7nm cockpit chip "No. 1" has been mass-produced in Lynk & Co, Ruilan and other brands; the Xingrui Smart Computing Center has been officially launched, and the super cloud computing power has been empowered to help Geely create generational advantages in intelligent driving, intelligent cockpit, new energy power management, native safety and other fields; satellite communication technology has been mass-produced for the first time in the world, and applied to JK 001 FR and Geely Galaxy E8, so that smart cars will never lose contact; during the Hangzhou Asian Games, the first high-end intelligent driving demonstration line in Hangzhou was successfully operated, and all Geely Asian Games official designated cars were provided with star-based high-precision positioning services, making Asian Games travel safer and smarter.
Under the power of the new energy vehicle manufacturing system, Geely Automobile has also obtained the industry’s first "new energy vehicle safety management system certification", and jointly established the first "new energy joint innovation laboratory" in China with the China Automotive Center, focusing on solving the problem of "stuck neck" of new energy vehicles, key technologies and forward-looking leading technologies, helping Geely Automobile to bring safer, smarter, more comfortable and more assured new energy products to users.
The entire industrial chain goes to sea for ecological advancement, and its international competitiveness and influence continue to improve
Seizing the important window period for China’s new energy vehicles to go overseas, Geely has strengthened its end-to-end overseas localization capabilities with more flexible and diverse overseas models, continuously optimized the entire industry chain’s overseas ecology, and steadily improved its international competitiveness and influence. In December, Geely Automobile Group exported 21,347 vehicles overseas, an increase of over 9% year-on-year. From January to December 2023, the group’s annual cumulative export sales volume was 274,101 vehicles, an increase of over 38% year-on-year.
In 2023, Geely’s brand internationalization map will usher in a new breakthrough. The overseas product matrix continues to grow, and 10 high-value products have been launched in 43 countries around the world. At the same time, Geely established its fourth subsidiary in the Mexican market to develop the Latin America market with systematic strength. As of now, Geely has established 532 sales and service outlets in 70 countries around the world, and continues to expand the global market.The Lynk & Co brand adheres to the virtuous development of domestic and foreign double cycles, and the "European strategy" and "Asia-Pacific strategy" accelerate again. As of the end of December, Lynk & Co has opened 11 offline experience stores in 6 European countries. Lynk & Co 01, Lynk & Co 05, Lynk & Co 03 performance family, and flagship model Lynk & Co 09 have successively landed in the Asia-Pacific market, further enriching the overseas product matrix.
In 2023, Extreme Krypton officially launched its globalization journey, landing in a total of 12 international mainstream markets, of which Extreme Krypton X and Extreme Krypton 001 have been delivered overseas, and two Extreme Krypton centers have been completed in Europe.
At the same time as products going overseas, technology going overseas has also become a new growth point for the development of the group. Based on the strong output of Geely Automobile’s entire industrial chain, Geely Automobile’s financial report for the first half of 2023 shows that Geely Automobile’s technology and authorized service revenue in the first half of 2023 was 2.71 billion yuan, an increase of 5.5% year-on-year. In early 2023, JK 001 and Waymo customized exclusive models based on the ZEEKR M-Vision concept car made their debut at the US CES exhibition Mobileye and Waymo booth respectively; in July 2023, Geely and Renault joined hands to establish a powertrain company, with an annual production capacity of over 5 million sets of engines and transmissions, which can cover 80% of the global fuel and hybrid vehicle market application needs; 2023 is also the seventh year of Geely and Proton’s cooperation. Since the cooperation, Geely’s strategy has exported a variety of products, engine technology, management and talent resources, helping Proton to achieve the gorgeous butterfly change of "turning losses into profits". "Proton model" is also regarded as a new business card of Geely’s globalization strategy. In October 2023, Geely and DRB-HICOM Group signed a main cooperation framework agreement. The two parties will cooperate in depth on the construction of Tanjung Marin Automotive High-Tech Valley ("AHTV") in Malaysia, and help AHTV become a high ground for new energy and new technology research and development and manufacturing.Voice "Carbon" to seek a green future and promote the sustainable development of the world’s automotive industry
In 2023, Geely’s global influence will continue to increase.The ESG strategy has been accelerated and has been recognized by international authoritative organizations for many times: Geely Baoji factory has obtained the five-star certification of "Zero Carbon Factory"; it has been ranked 8th on the list of "China ESG Listed Companies Pioneer 100", ranking first among Chinese car companies; dual carbon leadership has been the first in the industry for two consecutive years, and has been awarded the "carbon neutrality benchmark enterprise"; it has been selected as a constituent of "Hang Seng ESG50 Index", "Hang Seng Sustainable Development Enterprise Benchmark Index" and "FTSE Social responsibility Index Series"; in 2023, the MSCI ESG rating has been upgraded from "A" in 2022 to "AA". In December, Geely Automobile was invited to attend a number of activities of the COP28 United Nations Climate Conference, sharing its practices and experiences in full-link carbon emission reduction, carbon utilization and carbon management with the world, and expressing the Chinese voice of "carbon" seeking a green future on the world stage.For a long time, Geely Automobile has planned high-quality green and low-carbon development from the height of the entire industrial chain, value chain and ecological chain, and its quality system and management level have been achievedInternational Automotive Standards Cooperation OrganizationIATF Accreditation – Become the first Asian member in IATF history in 2021; November 2023,IATF officially awarded Geely.As of nowGeely has led the development of 407 international, national, industry, local and group standards, and has completed the publication of 254 standards.
In 2024, Geely will stillWe will continue to deepen the transformation of new energy and intelligence by launching industry-leading new technologies and achievements such as new pure electric architecture, new electric drive, CTB chassis, self-developed battery, AI intelligent cockpit, urban commuter NOA, satellite, etc.Build a strong intelligent electrification system. At the same time, combined with its own development experience, better participate in the formulation of international standards, make a Chinese voice, contribute Chinese wisdom, and join hands with global partners.To jointly build a new ecosystem for the development of a low-carbon and sustainable new energy vehicle industry.Let’s jointly promote the sustainable development of the world automotive industry.
