Geely's Ambition Enters 2024, Sells More Environmentally Friendly Vehicles

Lynk & Co 01 and 05. (Doc. Geely Group)

JAKARTA - Geely Automobile Holdings Ltd, an automotive company from China managed to record positive results throughout 2023 by successfully selling 1,686,516 vehicles, an increase of 18 percent from 2022. With this achievement, the manufacturer has ambitions to set a higher sales target by 2024.

Geely, founded in 1986, is one of China's leading automotive manufacturers. The company has been a pioneer in automotive development in China, both in the development of combustion engines and electric vehicles (EVs). Apart from being the parent of well-known brands such as Volvo Cars, Polestars, and Zeekr, Geely also plays an active role in spreading the trend of electric vehicles globally.

According to a Reuters report on Monday, January 1, Geely set a sales volume target of 1.9 million units for 2024, marking a 13 percent increase in total sales in the previous year.

Furthermore, the company also stated its intention to increase its New Energy Vehicle (NEV) sales volume target by more than 66 percent compared to total sales by 2023. Unfortunately, Geely has not disclosed the number of figures in detail regarding the NEV target.

In line with her ambition, Geely decided to expand into various markets, including the Southeast Asia region. One of the expansion steps is to invest in Malaysia, with an investment value of up to 10 billion US dollars or equivalent to Rp156.49 trillion.

Geely's expansion step was driven by the presence of electric vehicles from Smart Automobile, Geely's subsidiary and Mercedes-Benz Group. The vehicle also enlivened the Malaysia International Motor Expo event.

For additional information, Geely also owns 49.9 percent of Proton's shares, making it easier for her to distribute her vehicles in Malaysia. In addition, Proton and Smart Automobile have entered into an agreement to become the official distributors of electric vehicles in the Malaysian and Thai markets.