Latest news with #Geely-branded
Yahoo
16-04-2025
- Automotive
- Yahoo
Geely Holding sales surge 31% in Q1
Chinese automaker Zhejiang Geely Holding Group reported a 31% year-on-year surge in global vehicle sales to 946,627 units in the first quarter of 2025, driven by an 83% jump in new energy vehicle (NEV) sales to 463,372 units – or 49% of its total vehicle sales in this period. Geely Automobile Holdings Limited, comprising the group's Chinese brands, reported a 48% increase in first-quarter sales to 703,824 units, including 589,813 Geely-branded vehicles, 72,608 Lynk & Co sales, and 41,403 Zeekr sales. The company's commercial vehicle unit, Farizon New Energy Commercial Vehicle Group, saw its sales rise by 62% to 26,710 units. Sales outside China amounted to 89,953 units, underpinned by the recent roll-out of the EX5 in Indonesia, Australia, New Zealand, Vietnam, and across Latin America. First-quarter sales by the group's Volvo Cars subsidiary amounted to 172,219 vehicles, including 74,483 NEVs, while Polestar sold 12,304 units. Geely has stepped up its globalization strategy in the last two years, underpinned a strong new product launch strategy. Exports from China surged by 57% to 414,522 units last year, with the company reporting strong demand for its products in the Middle East, Asia-Pacific, Africa, Latin America and Europe. "Geely Holding sales surge 31% in Q1" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
16-04-2025
- Automotive
- Yahoo
Geely Holding sales surge 31% in Q1
Chinese automaker Zhejiang Geely Holding Group reported a 31% year-on-year surge in global vehicle sales to 946,627 units in the first quarter of 2025, driven by an 83% jump in new energy vehicle (NEV) sales to 463,372 units – or 49% of its total vehicle sales in this period. Geely Automobile Holdings Limited, comprising the group's Chinese brands, reported a 48% increase in first-quarter sales to 703,824 units, including 589,813 Geely-branded vehicles, 72,608 Lynk & Co sales, and 41,403 Zeekr sales. The company's commercial vehicle unit, Farizon New Energy Commercial Vehicle Group, saw its sales rise by 62% to 26,710 units. Sales outside China amounted to 89,953 units, underpinned by the recent roll-out of the EX5 in Indonesia, Australia, New Zealand, Vietnam, and across Latin America. First-quarter sales by the group's Volvo Cars subsidiary amounted to 172,219 vehicles, including 74,483 NEVs, while Polestar sold 12,304 units. Geely has stepped up its globalization strategy in the last two years, underpinned a strong new product launch strategy. Exports from China surged by 57% to 414,522 units last year, with the company reporting strong demand for its products in the Middle East, Asia-Pacific, Africa, Latin America and Europe. "Geely Holding sales surge 31% in Q1" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
12-02-2025
- Automotive
- Yahoo
Exclusive-Geely, Renault in talks over sales, manufacturing deals in Brazil, sources say
PARIS/SHANGHAI (Reuters) - French automaker Renault and its Chinese partner Geely plan to announce a deal later this month on expanding their cooperation to Brazil, three sources said, as they seek new growth markets amid broadening global trade wars. The two firms created a thermal engine joint venture last year and have since also started selling cars produced in a jointly owned factory in South Korea. They are now planning to further expand their partnership to Brazil, and are working on a preliminary deal that they aim to announce later this month, the sources familiar with the matter said. They declined to be named as the talks are not public yet. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Under the deal, the Chinese firm would start using Renault's Brazilian retail network as early as this year to begin sales of Geely-branded vehicles exported from China, two of the sources said. The deal would also see Geely taking a minority stake in Renault Brazil and using the latter's Curitiba plant to assemble vehicles there, the two sources said. It was not immediately clear how big the potential investment would be. Renault and Geely declined to comment. The plan for Geely to build its presence in Brazil by selling exported cars via Renault's retail network has not previously been reported. Les Echos had earlier outlined their talks on investment and local production. The move will help boost capacity usage at Renault's plant in Brazil, the French firm's fifth largest overseas market, and aligns with its broader plan to reduce its reliance on the European market. It would also help Geely, whose main export market is Europe, expand into new markets as it grapples with bruising price competition at home and hefty tariffs imposed by several developed markets including the U.S., Canada and the EU on China-made vehicles. Amid rising trade tensions and overcapacity in China, Chinese automakers have been exploring opportunities in markets such as Russia, South America, the Middle East and Africa for export growth. Brazil was the fastest-growing market for exports of EVs and plug-in hybrids from China last year, with shipments more than doubling to 152,000 units, according to Cui Dongshu, secretary general of the China Passenger Car Association. It also became the second largest market for Chinese new energy vehicles - which include electric and hybrid models - after Belgium, he said. In Brazil, Geely would sell cars under its own brand, unlike in the Korean partnership which currently focuses on a single Renault-branded model, the Grand Koleos, built on Geely's platform and manufactured in a Renault-controlled plant in Busan, South Korea. Technical details of the partnership in Brazil are still being considered, and one of the sources said that Geely could set up its multi-energy platform in the Renault plant to manufacture gasoline cars, hybrid cars and pure EVs.
Yahoo
12-02-2025
- Automotive
- Yahoo
Exclusive-Geely, Renault in talks over sales, manufacturing deals in Brazil, sources say
PARIS/SHANGHAI (Reuters) - French automaker Renault and its Chinese partner Geely plan to announce a deal later this month on expanding their cooperation to Brazil, three sources said, as they seek new growth markets amid broadening global trade wars. The two firms created a thermal engine joint venture last year and have since also started selling cars produced in a jointly owned factory in South Korea. They are now planning to further expand their partnership to Brazil, and are working on a preliminary deal that they aim to announce later this month, the sources familiar with the matter said. They declined to be named as the talks are not public yet. Under the deal, the Chinese firm would start using Renault's Brazilian retail network as early as this year to begin sales of Geely-branded vehicles exported from China, two of the sources said. The deal would also see Geely taking a minority stake in Renault Brazil and using the latter's Curitiba plant to assemble vehicles there, the two sources said. It was not immediately clear how big the potential investment would be. Renault and Geely declined to comment. The plan for Geely to build its presence in Brazil by selling exported cars via Renault's retail network has not previously been reported. Les Echos had earlier outlined their talks on investment and local production. The move will help boost capacity usage at Renault's plant in Brazil, the French firm's fifth largest overseas market, and aligns with its broader plan to reduce its reliance on the European market. It would also help Geely, whose main export market is Europe, expand into new markets as it grapples with bruising price competition at home and hefty tariffs imposed by several developed markets including the U.S., Canada and the EU on China-made vehicles. Amid rising trade tensions and overcapacity in China, Chinese automakers have been exploring opportunities in markets such as Russia, South America, the Middle East and Africa for export growth. Brazil was the fastest-growing market for exports of EVs and plug-in hybrids from China last year, with shipments more than doubling to 152,000 units, according to Cui Dongshu, secretary general of the China Passenger Car Association. It also became the second largest market for Chinese new energy vehicles - which include electric and hybrid models - after Belgium, he said. In Brazil, Geely would sell cars under its own brand, unlike in the Korean partnership which currently focuses on a single Renault-branded model, the Grand Koleos, built on Geely's platform and manufactured in a Renault-controlled plant in Busan, South Korea. Technical details of the partnership in Brazil are still being considered, and one of the sources said that Geely could set up its multi-energy platform in the Renault plant to manufacture gasoline cars, hybrid cars and pure EVs.
Reuters
12-02-2025
- Automotive
- Reuters
Exclusive: Geely, Renault in talks over sales, manufacturing deals in Brazil, sources say
PARIS/SHANGHAI, Feb 12 (Reuters) - French automaker Renault ( opens new tab and its Chinese partner Geely ( opens new tab ( plan to announce a deal later this month on expanding their cooperation to Brazil, three sources said, as they seek new growth markets amid broadening global trade wars. The two firms created a thermal engine joint venture last year and have since also started selling cars produced in a jointly owned factory in South Korea. They are now planning to further expand their partnership to Brazil, and are working on a preliminary deal that they aim to announce later this month, the sources familiar with the matter said. They declined to be named as the talks are not public yet. Under the deal, the Chinese firm would start using Renault's Brazilian retail network as early as this year to begin sales of Geely-branded vehicles exported from China, two of the sources said. The deal would also see Geely taking a minority stake in Renault Brazil and using the latter's Curitiba plant to assemble vehicles there, the two sources said. It was not immediately clear how big the potential investment would be. Renault and Geely declined to comment. The plan for Geely to build its presence in Brazil by selling exported cars via Renault's retail network has not previously been reported. Les Echos had earlier outlined their talks on investment and local production. The move will help boost capacity usage at Renault's plant in Brazil, the French firm's fifth largest overseas market, and aligns with its broader plan to reduce its reliance on the European market. It would also help Geely, whose main export market is Europe, expand into new markets as it grapples with bruising price competition at home and hefty tariffs imposed by several developed markets including the U.S., Canada and the EU on China-made vehicles. Amid rising trade tensions and overcapacity in China, Chinese automakers have been exploring opportunities in markets such as Russia, South America, the Middle East and Africa for export growth. Brazil was the fastest-growing market for exports of EVs and plug-in hybrids from China last year, with shipments more than doubling to 152,000 units, according to Cui Dongshu, secretary general of the China Passenger Car Association. It also became the second largest market for Chinese new energy vehicles - which include electric and hybrid models - after Belgium, he said. In Brazil, Geely would sell cars under its own brand, unlike in the Korean partnership which currently focuses on a single Renault-branded model, the Grand Koleos, built on Geely's platform and manufactured in a Renault-controlled plant in Busan, South Korea. Technical details of the partnership in Brazil are still being considered, and one of the sources said that Geely could set up its multi-energy platform in the Renault plant to manufacture gasoline cars, hybrid cars and pure EVs. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.
