- Geely Auto continues to be the top selling Chinese auto brand for fourth consecutive year with sales over 1.32 million units.
- Lynk & Co sold over 175,000 vehicles, a YoY increase of about 37%
- Geely Auto exported more than 73,000 units, a YoY increase of about 25%
- Geely Automobile Holding Ltd. (HK.0175) 2020 revenue reaches 92.1B RMB
- Net profit reached 5.57B RMB with profit attributable to stockholders at 5.53B RMB
2021 March 23rd, Hong Kong and Hangzhou. Geely Auto Group’s Hong Kong listed entity, Geely Automobile Holdings Ltd (HK.0175) (Geely Auto) released its 2020 Financial Results showing a revenue of 92.1 billion RMB, net profit of 5.57 billion RMB, and profit attributable to stockholders of 5.53 billion RMB. In 2020, Geely Auto diversified its profit structure, built a robust cash and capital structure, whilst continuing its commitment to R&D investment with the aim of accelerating its transition into a smart electric mobility technology enterprise.
Over the course of 2020 Geely Auto has successfully navigated the Covid-19 epidemic while accelerating its technological transformation. Geely Auto has continued to maintain strong market competitiveness, delivering a total of 1,320,217 units and maintaining its position as best selling Chinese auto brand for the fourth consecutive year.
Lynk & Co, a global premium brand, sold over 175,000 vehicles throughout 2020, an increase of about 37% year-on-year. More than 460,000 users have joined the Lynk & Co family in the four years since the brand was launched.
Overseas sales of Geely Auto branded vehicles reached nearly 73,000 units, a year-on-year increase of about 25%. The overseas expansion of the brand and its products increased its reach to cover nearly 30 markets with continuously improving brand image and influence.
Lynk & Co’s global expansion is underway with Lynk & Co Clubs opened in several European cities. The brand will bring a new business model offering high-quality service and experiences to European users. In 2021, Lynk & Co will unveil their “Asia-Pacific” expansion plan.
For 2021, Geely Auto Group has set a global sales target of 1.53 million units including Lynk & Co and Geely Auto brand products, a year-on-year increase of 16%.
Geely Auto has begun to transition to new BMA and CMA modular architectures, increasing cross product synergies and offering greater value for the users. In 2021, Geely Auto will introduce of a variety of new high-value models, including a new SUV based on the CMA architecture, the “Xingyue L” as well as a new sedan to be unveiled in the coming months. In addition to launching their first model in Europe, Lynk & Co will also unveil its first model to utilize the class leading SPA architecture.
Geely Auto plans to control its carbon emissions, achieve carbon neutrality, and contribute to fighting global climate change through the greater introduction of affordable and premium electrified vehicles to increase mass uptake.
Detailed in a separate release, Geely Auto Group has announced its establishment of a new intelligent electric vehicle company, Zeekr. With the launch of Zeekr, Mr. An Conghui will leave his role as Geely Auto Group President and CEO to become Chairman of Geely Auto Group. Mr. Gan Jiayue will take over for Mr. An Conghui as CEO of Geely Auto Group.