Geely Holding Group announced on Sunday its ambitious goal of selling more than 5 million vehicles annually by 2027, aiming for a 79% growth from its 2023 sales of 2.79 million units.
The company seeks to reach this target by consolidating its diverse brands and improving operational efficiency.
Geely, which has sold 3 million vehicles in the first 11 months of 2024, reflecting a 20% increase from the same period in 2023, plans to streamline its operations by combining its passenger car brands into two main units: Geely Auto for the mass market and Zeekr Technology for the premium segment.
The group also aims to enhance alignment in research and development across key technologies such as architecture, smart driving, cockpit systems, and batteries.
This move is part of Geely’s broader strategic overhaul after focusing on its core automotive business following previous expansions into industries like satellites, smartphones, and banking.
As part of its restructuring, Geely merged its Zeekr and Lynk & Co brands in November, marking the first significant step in its ongoing transformation.
Geely’s growth strategy includes streamlining R&D efforts and minimizing redundant investments to better compete globally, with the goal of positioning the company among the top 10 automakers worldwide by 2027.
