Geely Holding ranks 239th in 2021 on Fortune Global 500; gained over 200 places since list debut in 2012

The Zhejiang Geely Holding Group (Geely Holding) has been listed on the Fortune Global 500 for the 10th year in a row, the company said in a statement, and has placed 239th among the 500 for this year’s edition, with the automotive group having generated US$47.191 billion (RM200.1 billion) in revenue last year.

This represents a gain of four places on the ranking from its placing in 2020. Brands under the Geely Auto Group charted sales in excess of 1.32 million units, and the Geely brand continued to rank top among Chinese brands in terms of sales for the fourth year running, according to the company.

Volvo Cars sustained challenging times – as did just about everyone else – in 2020, though it followed up to rebound with its strongest second-half performance in the company’s history, according to Geely. Despite challenges faced due to the global outbreak of the Covid-19 pandemic, Geely Holding saw a growth in profit of nearly 10%, it said in its statement.

Developments from Geely Holding in the past year include the introduction of the world’s first open-source electric vehicle platform, called the Sustainable Experience Architecture (SEA). This was more recently detailed in June this year, and has been described to underpin a slew of new EV models ranging from entry-level and budget vehicles through mainstream and mid-sized segments, to sporty models.

With Zhejiang Geely Holding CEO, Li Shufu’s acquisition of a 9.69% stake in Daimler AG in 2018, this has resulted in a partnership for the development of a next-generation engine for hybrid vehicles, in addition to a joint venture for development and operation of the smart brand of small urban vehicles.

This year also saw the introduction of Zeekr, Geely’s premium electric vehicle brand that will operate separate from Geometry, the group’s EV brand that was launched in 2019 for the mainstream segment. More recently, Geely Holding announced a joint venture with Volvo Cars called Aurobay for the management of powertrain operations.

As for the automotive division within the Zhejiang Geely Holding (ZGH) group, Proton is among its brands, which put in a promising performance most recently. The national carmaker saw a 52% increase in sales year-on-year to 56,352 units in the first six months of 2021, or a 52% gain over the same period last year.

The post Geely Holding ranks 239th in 2021 on Fortune Global 500; gained over 200 places since list debut in 2012 appeared first on Paul Tan's Automotive News.

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