Geely Holding Group announced its ambitious target to sell over five million vehicles annually by 2027, a significant increase from the 2.79 million units sold in 2023. This goal represents a growth of approximately 79%.
In the first 11 months of 2024, Geely sold three million vehicles, marking a 20% increase compared to the same period in 2023. To streamline operations, the company plans to consolidate its brands into two main divisions: Geely Auto for mass-market vehicles and Zeekr Technology for premium offerings.
The restructuring aims to enhance research and development efficiency across key technologies including smart driving and battery systems. Previously, redundant investments were made with separate R&D teams for each brand.
This strategic shift follows a series of moves initiated in September, as Geely refocuses on its core automotive business after diversifying into sectors like satellites and banking. In November, the company announced the merger of its Zeekr and Lynk & Co brands as part of its restructuring efforts.