Geely Balances EV Expansion with Continued Focus on Petrol Cars
China's second-largest carmaker adopts a dual strategy, leveraging EV technology for global growth while maintaining internal combustion engine production for profitability.
- Geely plans to expand its electric vehicle (EV) presence in Asia and Europe through an asset-light strategy, partnering with local firms instead of building new plants.
- The company is navigating EU-imposed tariffs on Chinese-made EVs by emphasizing cost reduction through technological advancements.
- Despite robust EV sales, Geely's CEO, Gui Shengyue, highlights the continued importance of petrol-powered cars as a key profit driver and a response to global market diversity.
- Geely predicts that hybrid and petrol cars will remain significant globally, with internal combustion engines becoming more fuel-efficient and incorporating intelligent features.
- The automaker's diverse portfolio includes premium EV brands like Zeekr and stakes in Volvo and Polestar, reflecting its broader strategy to balance innovation with traditional markets.
South China Morning Post 
Fortune 
