What Geely Holding is
Zhejiang Geely Holding Group is a privately held automotive group based in Hangzhou. Li Shufu founded it in 1986 in Taizhou as a refrigerator parts maker, and Geely built its first car in 1998. Today the holding company controls Geely Automobile Holdings (HKEX: 0175), which sells the Geely, Geely Galaxy, Lynk & Co and Zeekr brands. It also controls Volvo Cars, Polestar and Lotus, and runs smart as a joint venture with Mercedes-Benz.
Size in 2025
The group's brands sold 4,116,321 vehicles in 2025, up 26%, and 2.293 million of them were new energy vehicles. Fortune's 2026 Global 500 lists FY2025 revenue of $87.87 billion, a net loss of $896.6 million and 136,299 employees. Geely Auto alone sold 3,024,567 vehicles and reported revenue of ~$48 billion (RMB 345.2 billion). In the first half of 2026 Geely Auto's revenue rose 15% to ~$24.1 billion (RMB 173.6 billion) on sales of 1.42 million vehicles.
Key deals
Geely bought Volvo Cars from Ford for $1.8 billion in 2010 and took stakes in Proton and Lotus in 2017. In December 2025 Geely Auto completed its buyout of Zeekr's minority shareholders, and Zeekr left the NYSE about 19 months after its IPO.
Leadership
Li Shufu is chairman of Geely Holding, and Andy An Conghui is its CEO. On August 18, 2026 Li stepped down as chairman of Geely Auto. An took over that role and Gan Jiayue became Geely Auto's CEO.
Plans to 2030
The One Geely plan released in January 2026 targets more than 6.5 million annual sales, over $139 billion (RMB 1 trillion) in revenue, a new energy vehicle share above 75%, and more than a third of sales outside China. Geely Auto's own target for 2026 is 3.45 million vehicles.
