Total sales volume in H1 reached 630,237 units, an increase of approximately 19% YoY.
Target for 2025 – 3.65 million units annually including over 1 million electrified vehicles.
Geely Automobile Holdings (0175.HK) (Geely Automobile/The Group) announced its 2021 first half financial results with revenue reaching RMB 45 billion, an increase of 22% compared to the same period last year.
Profits excluding share-based payments reached RMB 3.02 billion, an increase of 31% compared to the same period last year. Net profits for the first half reached RMB 2.41 billion and profit attributable to stockholders reaching RMB 2.38 billion. Moreover, the company aims to sell 3.65 million vehicles per year by 2025
From January to June 2021, the Group total sales volume reached 630,237 units, an increase of approximately 19% YoY. Among those totals, the premium brand, Lynk & Co, sold 107,873 units, an increase of 96.98% YoY. This year marked Lynk & Co’s fifth year of sales on the Chinese market with cumulative sales exceeding 550,000 units. Driven by greater sales of higher value products, the Group continued improving its brand premium with an average selling price of of RMB 84,148 per vehicle in the first half of 2021, an increase of 10% YoY.
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Overseas, the Group continues to accelerate its expansion with exports in the first half of 2021 reaching 53,422 units, an increase of 173% YoY. The expansion of Lynk & Co in Europe remains on schedule with successful deliveries to users in the Netherlands, Germany, Belgium, and Sweden. In the second half of 2021, Geely Auto will continue to grow globally based on its latest product ranges.
New energy vehicles continue to be a strong growth segment for the company. Sales of electrified vehicles from the Group increased 189% YoY in the first half of 2021.
In the second half of 2021, the Group plans to introduce its GHS2.0 intelligent hybrid powertrain system, with an industry-leading thermal efficiency of 43.32% and fuel saving of 40%. The GHS2.0 hybrid powertrains will be installed on flagship Geely Auto brand models and within three years will be offered on 10 new models from the Group. Zeekr, a 51%-owned joint venture, also aims to deliver its first pure electric model, the Zeekr 001 to users in the second half of 2021.
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Pre-orders began for the model began in April 2021 and all deliverable units for 2021 were sold out within a month. Over 5,000 confirmed orders were received on the first day that order books were opened.
Furthermore, Geely Auto announced it aims to achieve 3.65 million units in annual sales across the Geely Auto, Lynk & Co, Zeekr, and Geometry brands and expand its position as a marketshare leader amongst Chinese automakers. Among the Group’s 2025 target, electrified vehicles will account for 30% or over 1 million vehicles per year. The premium electric vehicle Zeekr brand will aim to achieve 650,000 units in annual sales by 2025.