Geely Holding forecasts nearly 20% YoY jump in 2023 annual auto sales

Shanghai (Gasgoo)- Zhejiang Geely Holding Group ("Geely Holding")'s Chairman Li Shufu delivered the New Year's speech for 2024 on December 29, reflecting on the achievements of Geely Holding in 2023 and outlining the development goals for 2024.

In 2023, Geely Holding's total sales are expected to reach nearly 2.8 million vehicles, a growth of nearly 20% compared to the previous year, with a penetration rate of new energy vehicles approaching one-third. Li Shufu affirmed Geely's commitment to accelerating the vehicles transition towards intelligence and electrification in 2024 to provide users worldwide with an unparalleled travel experience.

Photo credit: Geely Galaxy E8

In the highly competitive automotive industry of 2023, marked by industrial chain adjustments and ecosystem restructuring, Geely Holding demonstrated robust and high-quality development through the resolute transformation toward new energy intelligence. Li Shufu emphasized the collective determination of Geely and its subsidiary brands to embrace the challenges of the industry shift, showcasing a steady upward trajectory driven by accumulated strength and confidence.

Throughout 2023, Geely Holding achieved significant breakthroughs in the field of new energy vehicles, satisfying user demands for high-quality innovative products and personalized services. The launch of models such as the Geely Galaxy E8, the ZEEKR X, the ZEEKR 007, the Volvo EX30, the EM90, the Polestar 3, 4, the smart #3, the Lotus Emeya, and the Farizon Hometruck Xinghan H demonstrated Geely's innovation capabilities in the electric vehicle sector.

Li Shufu added the intelligent new energy revolution is gaining momentum, and innovation is the driving force for sustainable development. Geely continues to intensify innovation in cutting-edge technology fields such as automotive safety, green development, human-machine interaction, intelligent driving, in-vehicle chips, and low-orbit satellites, seizing the industry's high ground in innovation. The fruitful results of Geely's exploration in the innovation domain include innovations from the new-generation NordThor hybrid technology to the LYNK & CO super range extension technology, the installation of China's first self-developed 7nm automotive-grade intelligent cockpit chip, as well as the launch of the Xingrui Intelligent Computing Center, the self-developed Aegis battery safety system, and the Golden Brick battery that offers 500km of range in 15 minutes of charging.

Li Shufu noted that 2023 marks the tenth anniversary of the "Belt and Road" initiative, a significant year for Geely's coordinated development globalization, regionalization, and localization. Geely Holding has continuously strengthened its collaborative development capabilities across regions such as China, Europe, and ASEAN, earning opportunities and reputation in critical global markets. Geely empowered Proton to advance in new energy vehicle transformation and accelerated the construction of the Automotive High-Tech Valley (AHTV) project in Malaysia. It signed an agreement with Renault Group to build a joint venture. Besides, Polestar had formed a joint venture with Xingji Meizu to build an operating system for Polestar cars sold in China that will offer the latest smart technologies in its vehicles.

Despite China's leading position in the global wave of new energy vehicles, Li Shufu urged a continual sense of humility, acknowledging the evolving and rapidly changing world. He said, in 2024, Geely will persist in accelerating the intelligent new energy vehicle transition, systematically building advantages and capabilities in intelligent connectivity, intelligent driving, EV charging and battery swapping, energy management, smart mobility, and industrial internet. Li Shufu also stressed the importance of maintaining an open collaborative approach, working with global partners to create the ultimate travel experience for users worldwide.