Geely Automobile Holdings, the Hong Kong-listed entity in which Zhejiang Geely Holding Group is the lead shareholder, on Thursday, released its 2022 Half-Year performance, indicating significant progress in the premium market segments.
According to the report, Geely Auto recorded sales of 613,845 vehicles in 2022 Half-Year.
Among those sales, electrified and new energy vehicles reached 109,000 units, an increase of 398% Year on Year (YoY) and accounting for 17.9% of the company’s sales.
Since the beginning of 2022, the company has focused not only on expanding its electrified product line, but also on improving the intelligence of its products.
In Half-Year, the Geely Auto brand upgraded four of its models from a distributed control electronic architecture GEEA1.0 to a centralized domain electronic architecture GEEA2.0 along with support for the latest Qualcomm 8155 vehicle microchips.
In addition, OTA updates have improved the brand’s cockpit operating system by making the interface similar to the mobile phone experience.
In the first half of the year, the company’s overseas expansion has accelerated significantly with export sales exceeding 88,000 units, an increase of 64% YoY and accounting for 14.3% of the company’s total sales.
Geely explained that Lynk & Co achieved a new milestone in its European operations, delivering a total of 10,912 units to owners and subscribers in H1, an increase of 3,986%.
Geometry C was exported to Israel and has quickly become the best-selling BEV in its segment.
The company’s strategic partner in Malaysia, PROTON has also accelerated its overseas expansion, becoming Malaysia’s top vehicle exporter.
According to the company, the global expansion will continue to be an important avenue for growth and the company has set a target of achieving 20% of its total sales from overseas markets by 2025.
“The Geely Auto brand will focus on major markets in the Middle East, Asia-Pacific, and Latin America.
“The PROTON brand will focus on the Southeast Asian markets such as Thailand and Vietnam. Lynk & Co will continue expanding its presence in Europe as well as in Asia-Pacific markets.
“In addition to increasing exports, the company will also work on exporting its advanced hybrid, electric, and other new energy technologies through innovative models such as technology licensing, subscription, or cooperation with local automakers”.