Geely, officially known as Zhejiang Geely Holding Group Co., Ltd. (ZGH), is a major Chinese multinational automotive company. Established in 1986 by Li Shufu in Taizhou, Zhejiang, Geely has grown into a global automotive powerhouse. It entered the automotive industry in 1997 through its subsidiary, Geely Auto.
Corporate Details:
- Type: Private
- Headquarters: Binjiang District, Hangzhou, Zhejiang, China
- Area Served: Worldwide
- Key People: Li Shufu (Founder & Chairman), An Cong Hui (President)
- Revenue: CN¥92.1 billion (2020)
- Employees: 80,000
Ownership and Structure: Geely is privately owned by Chinese entrepreneur Li Shufu. It operates numerous subsidiaries and brands, including Geely Auto, Geometry, Livan, Zeekr, Volvo Cars, Polestar, Lynk & Co, Proton, Lotus, and others. It also produces motorcycles under Zhejiang Geely Ming Industrial and other brands.
Global Operations: In 2021, Geely Auto was the seventh-largest automobile manufacturer in China, with 1.328 million sales in China and over 2.2 million cars sold globally. The company also has a significant presence in the electric vehicle market.
Historical Development: Founded initially as a refrigerator maker, Geely shifted to manufacturing motorcycles in the mid-1990s and later to automobiles. The company’s growth accelerated with several strategic acquisitions, including Volvo Cars in 2010, the London EV Company in 2013, and a majority stake in Lotus in 2017.
Business Divisions: Geely’s business is categorized into several sub-groups:
- Geely Auto Group (Geely Auto, Lynk & Co, Proton, and Lotus)
- Volvo Car Group (Volvo Cars and Polestar)
- Geely New Energy Commercial Vehicle Group (London Electric Vehicle Company and Yuan Cheng/Farizon)
- Geely Group (New Business) (Caocao, Terrafugia, Qianjiang Motorcycle, Joma, and other new businesses)
- Mitime Group (ZGH educational institutions, motorsports business, and tourism business)
Listings and Indices: Geely Automobile Holdings Ltd, a subsidiary of ZGH, is listed on the Hong Kong Stock Exchange and became a constituent of the Hang Seng Index in 2017.
Key Development Phases: Geely’s growth is described in three eras by its founder:
- 1.0 era (1997-2007) – Initial automotive manufacturing
- 2.0 era (2007-2014) – Expansion and international acquisitions
- 3.0 era (2014-present) – Focus on electric and intelligent vehicles
Recent Developments: Geely has made significant strides in electric vehicle technology and has entered into strategic partnerships with other automotive giants like Renault. It also announced the launch of a new range of electric vehicles and several new models under the Geely Galaxy brand.
Automotive Divisions and Products: Geely operates several automotive divisions and brands, including Geely Auto, Geometry, Lynk & Co, Zeekr, Lotus, Volvo Cars, Polestar, and more. Each division caters to different segments of the automotive market, from mainstream to luxury and electric vehicles.
Global Sales and Market Presence: Geely has a substantial global presence, selling vehicles under various brands in numerous countries. It has a network of dealers, assembly facilities in several countries, and a significant market share in key automotive markets.
Non-Automotive Subsidiaries: Apart from its automotive interests, Geely has investments in non-automotive sectors, including technology and education, under its Geely Technology Group and Mitime Group.
Sales Figures: Geely has seen consistent growth in sales over the years, with Geely Auto Group reporting annual sales of over 1.5 million units in recent years. Its joint ventures, like Proton and Smart, also contribute significantly to its sales figures.