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Geely Automobile

Geely Automobile Reports Strong Q1 Revenue and Sales Growth

Beijing, June 29, 2024, The Europe Today: Chinese automaker Geely Automobile Holdings Limited has announced a 56 percent year-on-year revenue growth in the first quarter (Q1) of this year, with net income soaring by 119 percent, according to its Q1 financial report released on Friday.

The company recorded a total revenue of 52.3 billion yuan (approximately 7.34 billion USD) during this period, with net income reaching 1.56 billion yuan. In the first five months, Geely’s cumulative vehicle sales volume hit 789,645 units, marking a significant year-on-year increase of over 45 percent.

From January to May, Geely’s new energy vehicles (NEVs) under its three major brands—Geely Auto, Lynk & Co, and Zeekr—achieved a total sales volume of 254,226 units, representing a robust year-on-year growth of approximately 126 percent.

Lynk & Co, targeting the global premium NEV market, launched its first pure electric sedan, the Z10, in June. During Q1, Lynk & Co sold 61,056 vehicles, with sales surging to 21,778 units by May. NEVs accounted for 57 percent of the total, setting a new record high.