Zhejiang Geely Holding Group’s (Geely Holding) portfolio has a several prominent automotive brands, including Geely Auto, Geometry, Livan, LYNK & CO, Zeekr, Volvo Cars, Polestar, Proton, Lotus, smart, Radar, LEVC, and Farizon Commercial Vehicle. Yesterday, Geely Holding announced that sales across all of its brands grew 4.7% year-on-year to exceed 2.3 million units in 2022. This is the fifth consecutive year now where Geely Holding recorded more than 2 million units in aggregate sales.
One of the highlights was the fact that sales of electrified and clean alternative fuel vehicles doubled to more than 675,000 units across the group, representing 29% of aggregate sales. Growth across brand portfolio was driven by demand for new energy vehicles (NEVs). Plug-in hybrids and battery-electric vehicles are called NEVs in China. Geely Holdings says the continued global expansion and pivot to electrified vehicles is supporting further growth at Geely Auto and that the improved sales performance coincided with the Group’s continued focus on electrification, next-generation technologies, and synergies in sustainability.
Geely Holding says Geely Auto, including Lynk & Co, Geometry, Livan, and Zeekr, reported 2022 sales of 1.43 million units, an approximately 8% YoY increase. Sales growth was driven by the company’s expanding global presence and electrified vehicle sales. Exports to overseas markets increased 72% YoY to 198,242 units. In the new energy and electrified vehicle segment (including BEVs, PHEVs, and HEVs) the company saw unit sales more than double to 354,471 units. I hope Geely moves to accelerate more growth in BEVs and PHEVs and phases out HEVs in very near future. For companies that had existing ICE vehicle ecosystems, dropping HEVs and ramping up BEVs and longer range PHEVs is a good start. Last year, BYD stopped making full ICE vehicles to focus only on NEVs, and we could see more companies doing the same thing soon.
The Geometry electric models have made significant inroads in markets such as Israel. The Geometry C sold 5,381 units in Israel in 2022, ahead of Tesla’s Model 3, which sold 2,959 cars last year. The Geometry C was also fourth in the overall car market in Israel. The Geometry C was also introduced into new markets in Eastern Europe and South America. In 2022, Geometry saw its sales grow 170% YoY to 149,389 units.
Geely Holding says Livan, Geely Auto Group’s dedicated battery swapping electric vehicle brand, saw sales of its consumer battery swapping models reach 56,140 units in the brand’s first year of sales. Battery swapping for four-wheelers is becoming a thing again popularized by the likes of NIO. Zeekr, Geely’s electric mobility brand, completed its first full year of sales by exceeding its target of 70,000 units. By the end of 2022, 71,941 premium Zeekr 001s have been delivered to users. Zeekr unveiled its second model and the world’s first fully electric luxury MPV, the Zeekr 009.
In 2023, Zeekr aims to nearly double its sales and begin its expansion into European markets. I am really looking forward to seeing the Zeekr 001 entering more markets. Another exciting model from Zeekr is the Zeekr 009 MPV. It has a giant 140 kWh battery pack and therefore has 822 km (511 miles) of range on a full charge, according to the CLTC rating system. It will be one of the first vehicles to use CATL’s new Qilin battery.
Geely Holding adds that Volvo Cars’ transition to full electric continued in 2022. For the full year, Volvo saw its unit sales reach 615,121 vehicles, with the share of fully electric vehicles rising almost threefold to 10.9%. Demand for Volvo products remained robust in spite of challenges from supply chain issues, component shortages, and Covid-related lockdowns. Significant progress in the digital transformation of the Swedish brand was seen in 2022 with subscriptions increasing 49% YoY and online sales increasing 17% YoY.
Then there is Polestar, the Swedish electric performance car brand which completed its IPO on the NYSE in 2022 and met its target to sell 50,000 vehicles globally with estimated full year volume reaching 51,500 cars, up approximately 80% YoY. The brand also unveiled its first electric performance SUV, the Polestar 3. In 2023, the brand anticipates global sales volume will increase nearly 60% to approximately 80,000 cars, led by strong Polestar 2 sales and first deliveries of the Polestar 3. There has been a lot of excitement around the Polestar 3 and I am looking forward to seeing how well it does on the market.
Geely Holding also says that the London Electric Vehicle Company continues its return to growth in 2022 as the British electric taxi and commercial van maker expands its presence globally. Over 2022, the brand saw sales of its electric range-extended TX taxi and VN5 vans grow roughly 67%. The brand has also announced its intent to grow beyond high-end taxi manufacturing to become a leading zero-carbon mobility technology company. In 2023, the brand aims to grow 20% delivering deliver smart, green, safe and accessible mobility solutions to more people around the world.
Expect a big year ahead for Geely. I look forward to seeing more of its affordable models such as the Geometry C and the Geometry E enter more markets around the world.
Another one of Geely’s products I like is the Panda Mini EV. Geely wants you to “unleash your cuteness” with its new Panda Mini EV that comes with a 64-inch panoramic sun roof (canopy). It starts from about ¥55,800 in China, which is about $8,000. For this amount you get up to 22 kW charging (DC) which Geely says takes 30 minutes from 30% to 80%, 7 kW on AC, a reverse camera, smart internet, an app to start to turn on AC in the car before you hop in for a drive, unlock the car with your phone, Bluetooth, and a 9.2-inch screen, etc. The battery capacity is 17.03 kWh, giving a CLTC range of 200 km. The maximum motor power is 30 kW.
Geely also says that the car provides standard passenger car sitting posture and mentions laser welding to hint at its roominess and superior build quality for this vehicle segment. There are several mini EVs on the market in China now, made popular by the Wuling Mini EV, and now the Panda mini EV joins this awesome list that includes the Cherry’s QQ Ice and its many Cream flavors. Which brands and which models from Geely Holding are you most excited about? Let us know in the comments section.
Images courtesy of Geely
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