Geely Targets Sale of 650,000 NEVs in 2023
On January 9, Chinese automaker Geely announced its latest production and sales data. In December, its total sales volume of passenger cars was 146,000 units, down 8% year-on-year, among which the sales volume of new energy vehicles was 44,550 units, up 165% year-on-year. According to these figures, the penetration rate of NEVs among Geely cars was 30.5% during the month.
Geely is widely involved in various technical fields such as pure electricity, hybrid, battery swapping and methanol. However, the sales volume of Geely now mainly comes from two pure electric vehicle brands, Zeekr and Geometry. In December, Zeekr and Geometry sold 11,337 vehicles and 18,728 vehicles respectively, accounting for nearly 70% of Geely’s NEV sales.
As a high-end electric vehicle brand owned by Geely, Zeekr has two models on sale, among which the Zeekr 001 is positioned as a coupe and the Zeekr 009 is aimed at the MPV market. Up to now, although the Zeekr 009 has been mass-produced, it has not officially started delivery. In 2022, Zeekr delivered 71,900 vehicles, slightly exceeding the delivery target of 70,000 vehicles set at the beginning of the year.
In order to ensure the completion of this year’s production outline and the smooth introduction of new projects, Zeekr’s factory will use the Spring Festival holiday to upgrade the production line. It is estimated that the equipment production line will stop operations from January 11 to February 1.
Unlike Zeekr, Geometry has seven models on sale, including the G6 and M6 released in November of last year. Focusing on the EV market with a price range from 100,000 yuan to 200,000 yuan ($14,751 – $29,503), Geometry delivered 149,000 vehicles last year, a year-on-year increase of 170%.
In 2022, Geely delivered 329,000 NEVs, up 219% year-on-year, and 1.433 million vehicles, up about 8% year-on-year. According to this calculation, in 2022, Geely’s NEV penetration rate was about 23%, less than the 27.6% of the whole industry.
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Regarding the matter, Geely said that in 2023, it has targeted delivering over 650,000 NEVs, and 1.65 million vehicles. Zeekr CEO An Conghui recently stated that in 2023, Zeekr aims to sell 140,000 vehicles.
With the withdrawal of new energy vehicle subsidies in China, competition in the domestic market will further intensify. Automobile manufacturers such as BYD and NIO have been expanding the global market, and so has Geely. In 2022, the firm’s overseas sales reached 198,000 vehicles, up 72% year-on-year. It deepened its layout in Eastern Europe, the Middle East, the Asia-Pacific, Africa, Latin America, Europe and other regions, and a total of 379 sales and service outlets were set up worldwide.