Geely Holding Group said on Thursday it is targeting global sales of more than 6.5-million vehicles by 2030, aiming to rank among the world’s top five carmakers in an intensifying competition with established global rivals.
The closest Chinese rival to BYD expects one-third of its total sales to come from overseas shipments by the end of the decade, when its annual revenue is estimated to top 1-trillion yuan (R2.32-trillion), according to a company statement. The target would position Geely, the Chinese owner of Volvo Cars, alongside current global players such as Hyundai Motor Group and Stellantis.
Geely said sales of all brands, including Geely Auto, Zeekr, and Volvo, would collectively hit more than 4-million vehicles annually in 2025, which would rank it seventh globally.
Geely, which overtook Volkswagen in China last year, is part of a wider wave of Chinese carmakers setting aggressive global goals, particularly in fast-growing markets such as Southeast Asia and Latin America.
The competitive push also includes newcomers such as 10-year-old Leapmotor, which said in December it aims to become one of the world’s top 10 carmakers within the next decade with annual sales of four million units.
As part of its expansion strategy, Geely plans to develop new energy vehicle architectures spanning A- to E-class models, aiming to shorten research and development cycles and cut average production costs per model by more than 30%.
Geely has also deepened partnerships with international carmakers, including Renault Group, to co-develop and produce vehicles using Geely’s platforms for overseas markets.
Reuters
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