Stockholm, 2021 August 02, (ChinaEuropeDialogue) — Zhejiang Geely Holding Group (Geely Holding), China’s largest privately-owned automotive technology company was listed in the 2021 Fortune Global 500 for the 10th consecutive year with a ranking of 239th after its last year’s revenues reached US$47.191 billion. Since first entering the Fortune Global 500 in 2012, Geely Holding has risen over 200 places. Geely Holding marked its latest inclusion in the Fortune 500 by issuing the following summary of its progress from the past year:
Geely Holding made great strides in a tumultuous 2020 with sales from its subsidiary brands and partners exceeding 2.1 million units. Brands managed under Geely Auto Group saw sales exceeding 1.32 million units and the Geely Auto brand once again ranked first in sales amongst Chinese brands for the fourth consecutive year. Volvo Cars faced a difficult first half in 2020, but quickly recovered in the second half with the strongest 2H sales ever achieved in the company’s history. Despite challenges resulting from the outbreak of the global Covid-19 epidemic, Geely Holding continued to perform resiliently and saw profits grow nearly 10%.
With continued challenges from the ongoing global epidemic and technological revolution within the automotive industry, Geely Holding is building extensive alliances, pursuing greater synergies, investing in innovation, and laying the foundation for a mobility technology ecosystem as it continues its sustainable development.
Cross border collaboration and global partnerships has always been a strength for Geely Holding. This year, Geely Holding announced several global partnerships with Daimler AG, Baidu, Foxconn, and Concordium. With Daimler, Geely Holding launched plans to collaborate on developing highly efficient powertrain systems for next-generation hybrid vehicle applications. Baidu and Geely Holding established a new strategic partnership focusing on the development of connected and intelligent electric vehicles. With Foxconn, Geely established a joint venture providing OEM production and customized consulting services to global automakers. Bringing blockchain technology and services to China, Geely partnered with Denmark’s Concordium Foundation.
Internally, Geely Holding has achieved growth through global integration and greater synergies between its subsidiaries. Over the past year, Geely Holding has launched the world’s first open-source electric vehicle architecture and the first brand to utilizing it, the premium pure electric brand Zeekr. Creating greater value from global integration, Geely Holding and Volvo established a global joint venture, Aurobay for its powertrain operations.
Geely Holding’s decades of commitment to technological innovation has provided the Group and its subsidiaries with a strong technological foundation in fields such as intelligent connectivity, highly autonomous driving, new energy ecosystem, and future mobility.
Taking sustainability as a mission, Geely Holding has continued to improve its ESG (environmental impact, social responsibility, and governance) through greater transparency and management focused on sustainable development. The Group is in the midst of developing a carbon neutrality plan which will cover the entire lifecycle of its vehicles as well as building an environmentally friendly mobility ecosystem.
Since Geely Holding first became listed on the Fortune 500 list a decade ago, the Group has achieved immense growth. Over the next decade, Geely Holding and its subsidiaries will continue to adhere to high-quality sustainable development, increasing market share, global expansion, and creating greater value for users around the world.