The announcement came during the company's annual financial report presentation on 18/3, where management unveiled a strategy to challenge current market leader BYD through domestic growth and international expansion.

Geely Auto's primary goal is to achieve the top position in China's domestic sales for 2026. This requires Geely to surpass BYD's 2025 domestic sales, which stood at approximately 3,55 million vehicles.

The Boyue L (or Starray) is Geely's top-selling SUV. Photo: Geely

Geely's official global sales target for 2026 is 3,45 million vehicles, though internal figures are reportedly higher, emphasizing domestic operational efficiency. In 2025, Geely successfully adjusted and met its annual sales target, increasing it from 2,71 million to 3 million units.

The company's financial performance in 2025 was robust. Geely reported total revenue of 345,2 billion yuan (USD 50 billion), a 25% increase from the previous year. Core net profit attributable to shareholders rose 36% from 2024, reaching 14,41 billion yuan (USD 2,09 billion). Cash reserves at the end of 2025 increased by 46% year-on-year, totaling 68,2 billion yuan (USD 9,88 billion).

Geely's strong business performance was largely driven by its premium product strategy, notably through its sub-brand Zeekr. The Zeekr 9X model, reporting a 40% profit margin, emerged as a standout product. This success helped elevate the company's gross profit margin to 16,9% in Q4/2025, exceeding the full-year margin of 16,6%.

The appeal of Geely's premium strategy continues to attract Chinese consumers, as evidenced by the new Zeekr 8X. After just two days of pre-orders, the recently launched model garnered over 30.000 orders, according to a Geely executive.

Geely's international ambitions are equally significant. While the official overseas sales target for 2026 is 640.000 units, internal projections aim for 750.000 vehicles. To achieve this, Geely plans to expand its international dealership network to over 1.300 locations and leverage synergies with other brands within the Geely group, including Volvo, Lotus, and Smart.

The automaker intends to introduce successful models like the Galaxy E5 and Starship 7 to global markets. It also plans to accelerate the launch of Lynk & Co 08, 01, and Z20 models in Europe by utilizing Volvo's existing resources. The Zeekr 7X model is set for launch in South Korea in the first half of 2026.

As part of its customer service enhancement strategy, Geely's subsidiary Haohang Energy aims to deploy over 50.000 MW fast-charging stations within the next five years. Upcoming upgraded models, such as the Zeekr 001, will support maximum charging power up to 1.500 kW.

BYD's sales target for this year is reportedly 5 million vehicles, according to CarNewsChina; however, a substantial portion of these are exported. In february, BYD's exports even surpassed its domestic sales. If one-half of its vehicles are exported this year, Geely Auto could potentially surpass BYD in the Chinese market.

A key differentiator is that BYD exclusively sells new energy vehicles, whereas Geely continues to offer internal combustion engine vehicles. Last february, Geely's gasoline-powered Starray (Boyue L) was China's best-selling internal combustion engine SUV, ranking only behind the Tesla Model Y and Xiaomi YU7 in its segment.

By My Anh