How Zhejiang Geely Holding Group Makes Money

Geely Holding is a holding company rather than a single carmaker. Most of its volume comes from Geely Automobile Holdings, the Hong Kong-listed unit that sells Geely, Geely Galaxy, Lynk & Co and Zeekr vehicles; that unit sold 3,024,567 vehicles in 2025 and reported revenue of ~$48 billion (RMB 345.2 billion). Separately listed or partly owned affiliates such as Volvo Cars, Polestar and Lotus Technology serve premium and performance segments in Europe and other export markets, while smart is run as a joint venture with Mercedes-Benz and LEVC, Proton and Farizon cover taxis, the Malaysian market and commercial vehicles. The group shares vehicle architectures, powertrains and purchasing across brands. Its January 2026 strategy, called One Geely, targets deeper coordination between these brands.

Growth is centred on new energy vehicles, which made up 2.293 million of the group's 4.116 million sales in 2025, and on overseas markets. The group is also simplifying its structure: Geely Auto took Zeekr private in December 2025 so it could combine product development, manufacturing and sales. It also works with partners such as Renault (through the Horse Powertrain joint venture) and, from September 2026, NIO on charging and battery swapping.