Top stories of Geely in 2021

In 2021, Zhejiang Geely Holding Group added numerous partners in various areas, including Renault, Baidu, Foxconn and Waymo. The group also launched ZEEKR brand, which has produced over 10,000 vehicles by the end of January, 2022. Besides, Li Shufu, founder of the group announced his foray into smart phone business.

Photo credit: Geely

Gasgoo chose some news about Geely in 2021 for your information.

Geely Auto fulfills 87% of 2021’s sales target

Geely Automobile Holdings Limited (called “Geely Auto” for short) announced on Thursday that the annual sales of the Group (collectively referring to Geely Auto and its subsidiaries) amounted to 1,328,029 units in 2021, edging up 1% from the previous year and achieving 87% of the Group's yearly sales target of 1.53 million units.

For the month of December 2021, Geely Auto and its subsidiaries sold 158,765 new vehicles, representing a 3% increase year-on-year and a 17% jump month-on-month.

Geely, Foxconn incorporate chip making joint venture

Geely Holding and Foxconn’s Shenzhen subsidiary have co-established an automotive semiconductor manufacturing company, Shandong Fujikang Intelligent Manufacturing Co., Ltd. (Fujikang), according to corporate database, Qichacha.

Fujikang was registered on December 27th, with a registered capital of RMB100 million. Geely Holding and Futaihua Industry (Shenzhen) Co., Ltd. each owns 50% of Fujikang’s stake.

Earlier in 2021, Foxconn and Geely Holding have already signed a strategic cooperation agreement, announcing their decision to establish a joint venture, serving the global auto industry and mobility companies with manufacturing and customization.

Geely’s Zeekr, Waymo partner on autonomous ride-hailing vehicle

Zeekr from Geely Holding Group will work with American autonomous driving technology development company Waymo to develop a new electric vehicle model for Waymo’s autonomous ride-hailing fleet to be deployed in the United States, both companies announced on Tuesday.

According to the partnership, the new model will be designed and developed at the Chinese brand's R&D facility, CEVT (China Europe Vehicle Technology Centre) in Gothenburg, Sweden. The vehicle will be built on its new proprietary and open-source mobility architecture, the SEA-M, according to Geely. After taking delivery of the vehicles in the U.S., Waymo will then empower the transportation-as-a-service (TaaS)-optimized vehicles with its fully autonomous Waymo Driver.

Geely to set up automobile joint venture with Lifan Technology

Lifan Technology, the holding company owning China’s named motorcycle brand, Lifan Motorcycle, announced today that it will be setting up an automobile joint venture company with major automaker, Geely Automobile Holdings Limited (Geely Auto).

The two companies plan to each invest RMB300 million into the new company, with a 50% stake each.

The new company will be established in Chongqing. The business scopes of the joint venture will include the design/R&D/sales of automobiles (auto parts, equipment, decorations included), exportation, software development, technology development, and more.

Geely starts presale for new battery-swapping heavy truck

The commercial vehicle arm of Geely Holding, Farizon Auto, introduced its new energy heavy truck, the Homtruck, last night. Presale of the Homtruck started at the same time, and the truck will be on the market in 2024.

According to the truck maker, the Homtruck features multiple new energy power modes, including swappable battery-electric, swappable extended-range, methyl alcohol P2 hybrid, and more. Under Farizon Auto’s energy fueling network, the Homtruck’s battery-swapping mode almost allows unlimited NEDC range.

Farizon has incorporated numerous Chinese cultural elements in the truck. For example, the digital LED headlights are inspired by the Chinese character “水” (water) in a traditional style of Chinese calligraphy.

Geely Technology to build 12GWh power battery base in Chongqing

Geely Technology Group, a subsidiary of Zhejiang Geely Holding Group (Geely Holding), plans to build a 12GWh power battery manufacturing plant in Fuling district, Chongqing city, according to a cooperation agreement signed with the district's local government on Nov. 26.

Meanwhile, Geely Technology Group also reached a collaboration deal with local government of Liangjiang New Area, another district of Chongqing, to locate there its headquarters of Western China. Besides, it plans to set up in Liangjiang New Area an innovation research hub that combines the efforts of enterprises, universities, and research institutes, and helps incubates outstanding firms for both upstream and downstream industrial chains.

Notably, the aforesaid two pacts are under an all-around strategic partnership the company forged with Chongqing municipal government on the same day.

Geely builds wholly-owned industrial investment subsidiary

Zhejiang Geely Holding Group recently founded an industrial investment subsidiary, whose business scope covers sales of new energy vehicles (NEVs).

The newborn company, dubbed Zhejiang Geely Industry Investment Holding Co.,Ltd., was established on Sept. 29 in Ningbo, Zhejiang province, according to the company information inquiry platform Tianyancha. Involving a registered capital of 100 million yuan ($15.52 million), it is wholly controlled by Zhejiang Geely Holding Group.

Geely’s Li Shufu officially sets foot in premium smartphone industry

In September, Geely’s founder, Li Shufu, officially announced his entry to the smartphone industry and signed a strategic agreement with Wuhan Economic and Technological Development Zone.

The recent rumor about Li’s phone-making endeavor is finally made official. The auto mogul’s smartphone business will be operated through Hubei Xingji Shidai Technology Co. Ltd., a company co-founded by Li Shufu with 55% in stake. The goal is to target the high-end smartphone market, integrating technologies and resources worldwide, serving the global market.

Notably, the Xingji Shidai Technology Co. Ltd. was registered on September 26th. The other main shareholder at 30% is Shen Ziyu, co-founder and CEO of car technology startup ECARX, which he founded with Li Shufu.

Faraday Future, Geely finish initial technical cooperation

Faraday Future Intelligent Electric Inc. (FF) and Geely Holdings has made substantial progress in the initial phase of technology co-development, the California-based global shared intelligent mobility ecosystem company announced on its “919 Futurist Day”.

Currently, technical teams from both parties are working closely on the inspection and development of the platform technology. This successful technical collaboration will push the two companies to further their cooperation, accelerating FF’s China business expansion.

ZEEKR to raise $500 million from five external investors

ZEEKR Intelligent Technology, a high-end EV company launched this year by Geely, signed an agreement on August 27 to issue and allot to five investors a total of 126,470,585 Series Pre-A Preferred Shares, at a consideration of $500 million, according to an announcement of Geely Automobile Holdings Limited (Geely Auto).

Those investors, who are all independent third parties, include Intel Capital Corporation, CATL, Cathay Fortune Corporation, Bilibili, and Boyu Capital. Notably, Bilibili is an iconic brand and a leading video community for young generations in China.

The shares to be sold will represent roughly 5.6% of the enlarged issued share capital of ZEEKR Intelligent Technology.

Geely, Renault to cooperate in China and South Korea markets

French automaker Renault Group and China’s largest privately-owned automotive group Geely Holding Group announced today that they have signed an MoU framework agreement to create an innovative cooperation.

Initially, the cooperation will focus on China and South Korea Markets. In China, they will jointly introduce Renault-branded hybrid vehicles based on Geely’s technologies and industrial footprint while the French company will be responsible for branding strategy, channel and service development, defining appropriate customer journey.

In South Korea, both parties will develop vehicles for the market based on Lynk & Co’s compact modular architecture (CMA). Besides, both parties also plan to seek more in-depth potential partnership.

Geely announces premium EV brand Zeekr

Geely Auto Group (Geely Auto) announced in March the formation of Zeekr Company Limited, a new electric mobility technology and solutions company based in China that aims to meet growing demands for premium electric vehicles (EVs).

According to Geely Auto, Zeekr will be a 51-49% joint venture between Zhejiang Geely Holding Group (Geely Holding) and Geely Auto. Both parties have agreed to plow a total of 2 billion yuan ($307.088 million) in cash into the newborn company.

Li Shufu, chairman of Geely Holding, will serve as chairman of Zeekr, while An Conghui, president and CEO of Geely Auto Group, becomes CEO of the new joint venture. The Chinese name of Zeeker has been confirmed as Ji Ke.

Baidu, Geely to establish intelligent electric vehicle company

In January, 2021, Baidu, Inc., Chinese search engine giant, announced that it plans to establish a company with Geely to build intelligent electric vehicles. Zhejiang Geely Holding Group will be a strategic partner for the new company, which will operate as an independent subsidiary of the technology company.

The new company, with an aim to provide passenger vehicles, will cover the entire industrial chain, including vehicle design, R&D, manufacturing, sales and service. Baidu will provide its full portfolio of core technologies, including Apollo autonomous driving, DuerOS for Apollo, and Baidu Maps while Geely will contribute its expertise in vehicle manufacturing.