The gross profit for the quarter reached 11.4 billion yuan, with a gross margin of 15.8%, reflecting strong financial performance. Guided by the "Tāizhōu Declaration," Geely is accelerating its shift to electrification. In Q1, the company sold approximately 704,000 vehicles, a 48% rise from the prior year, setting a new quarterly record. This accounts for 26% of its 2.71-million-unit annual sales target.
NEV sales, including Geely, Lynk & Co, and Zeekr brands, totaled around 339,000 units, with domestic NEV market penetration surpassing 50%. This positions Geely among the leaders in China’s NEV sector. The Geely Galaxy NEV range, upgraded to a standalone brand in Q1, recorded sales of nearly 260,000 units, a 214% year-on-year increase. Lynk & Co sold about 73,000 vehicles, up 19%, with NEVs comprising 52% of its sales. Zeekr delivered approximately 41,000 vehicles, reflecting a 25% growth.
On May 7, Geely announced plans to acquire all outstanding shares of Zeekr, aiming for full integration. A company spokesperson stated: “This move will strengthen brand positioning and enhance user-focused strategies, while optimizing supply chains, manufacturing, and sales channels for greater efficiency.” The integration is expected to drive further growth and operational synergies.
Geely’s focus on electrification and strategic brand management underscores its commitment to sustainable mobility and market leadership. The company continues to leverage technological advancements and scale to meet growing demand for NEVs in China and beyond.
