Geelys NEV sales soars by 300% in 2020

Photo/Google Finance

Looking forward to the future, in 2023, Geely Automobile aims to sell 1.65 million vehicles, with NEV sales expected to double on the level of 2022. Meanwhile, the company will adhere to technological innovation, continue to promote new energy technology, strengthen intelligent driving and commuting, and expand the international business.

The technology licensing business generated 1.66 billion yuan in revenue last year, representing a year-on-year increase of 29.9%.

The automaker has been advancing the technological innovation in the NEV area with a focus on multiple technical routes such as pure electric, hybrid, battery swap and methanol-driven technologies.

In overseas markets, Geely Automotives competitiveness has been further increased. In 2022, the company exported a total of 198,242 vehicles, up 72.4% year on year, higher than the industry growth rate of 56.7%.

On March 21st, Geely Automobile released its 2022 financial report. Operating income stood at 148 billion yuan, showing a year-on-year increase of 45.6%, setting a new historical high. Net profit attributable to the parent company increased by 8.5% year-on-year to 5.26 billion yuan. Total amount of cash rose by 20.4% to a record high of 33.7 billion yuan.

Geely Automobiles Hong Kong stock rose in the afternoon trading session. As of press time, the share price stood at HK$9.46, showing an increase of 3.39%.

In the whole year of 2022, the company reported total sales of 1,432,988 vehicles, representing an increase of 8% year on year. Of those, sales of the carmakers new-energy vehicles under the Geely, LynkCo, Geometry, Zeekr and Livan brands amounted to 328,727 units, representing a 300% growth rate from the previous year.

File photo/Sun Tongtong (NBD)