Geely Holding Group, one of China's biggest automakers, unveiled on Sunday its ambitious target to sell more than 5 million vehicles per year by 2027. This marks a 79% increase over its 2023 sales of 2.79 million units, which the business plans to achieve by integrating its brands and improving operating efficiency, according to Reuters. The corporation had a strong start, selling 3 million cars in the first 11 months of 2024, a 20% rise from the previous year. Reaching the 5-million-unit mark would put Geely in the top 10 automakers in the world, along with Tesla, Toyota, BYD, and Mercedes Benz. Strong demand for its electric and hybrid models helped the massive automaker post a 43% year-over-year increase in total vehicle sales of 210,055 units in December 2024. The company aims to reach 2.71 million units in 2025, a 25% increase in sales volume. In terms of new energy vehicle sales, it seeks to sell 1.5 million units, which is a 69% increase over its 2024 performance. Through the consolidation of its passenger car brands into two primary divisions, Geely hopes to streamline its operations. Geely Auto will serve the mainstream market, whilst Zeekr Technology will concentrate on luxury vehicles. The firm announced plans in November to combine Zeekr with its sibling brand Lynk & Co., starting a major automobile portfolio restructure.
