Geely Automobile Holdings

What does Geely own?
Geely Automobile Holdings owns the Geely Auto, Lynk & Co, and Zeekr brands directly. The broader Zhejiang Geely Holding Group, which controls Geely Automobile Holdings, also owns a majority stake in Volvo Cars, a significant stake in Polestar, 51 percent of Lotus Cars, and 49.9 percent of Proton. The group produced 4.1 million vehicles globally in 2025, including 2.3 million plug-in electric vehicles.

Is Geely publicly traded?
Geely Automobile Holdings is listed on the Hong Kong Stock Exchange under ticker 0175. The broader Zhejiang Geely Holding Group, which is the ultimate parent company, is privately held by Li Shufu and his family. Several of Geely's subsidiary brands are separately listed: Volvo Cars on Nasdaq Stockholm and Polestar on NASDAQ. Zeekr was listed on the NYSE but was merged into Geely Auto Group in 2025.

Who founded Geely?
Geely was founded by Li Shufu in 1986 in Taizhou, Zhejiang Province, China. Li Shufu initially founded the company as a manufacturer of refrigerator components before expanding into motorcycles and then automobiles. He received government approval to manufacture automobiles in 1997, making Geely one of the first private Chinese companies to receive such approval. Li Shufu continues to serve as chairman of Zhejiang Geely Holding Group.

What is Geely's annual revenue?
Geely Auto Group reported revenue of CNY 320 billion for fiscal year 2025, up from CNY 240 billion in 2024. The revenue growth was driven by strong sales of new energy vehicles, particularly the Geely Galaxy series and Zeekr models, as well as growing export sales.

How many electric vehicles did Geely produce in 2025?
In 2025, the Geely group produced 2.3 million plug-in electric vehicles out of a total of 4.1 million vehicles. New energy vehicles accounted for over 50 percent of total sales for the first time, marking a major milestone in the group's EV transition.

What is the Zeekr merger?
In 2025, Geely announced a strategic merger of Zeekr into Geely Auto to consolidate its EV operations and streamline its corporate structure. The merger was part of a broader effort to simplify the group's complex ownership hierarchy and improve operational efficiency. Zeekr operates as a division within Geely Auto Group rather than as a separately listed entity.

Where is Geely headquartered?
Geely Automobile Holdings is headquartered in Hangzhou, Zhejiang Province, China. The broader Zhejiang Geely Holding Group is also headquartered in Hangzhou. The group operates manufacturing facilities in China, Sweden (Volvo Cars), the United Kingdom (Lotus), Malaysia (Proton), and Belgium (Volvo Cars).

Who owns Geely?
Geely Automobile Holdings is publicly listed on the Hong Kong Stock Exchange, but the controlling shareholder is Zhejiang Geely Holding Group, which is privately held by Li Shufu and his family. Li Shufu's control of the privately held parent company gives him effective authority over the broader Geely group, including its various listed subsidiaries. Public shareholders in Geely Automobile Holdings own a minority economic interest in the listed entity.

Li Shufu founded Geely in 1986 in Taizhou, Zhejiang Province, China, initially as a manufacturer of refrigerator components. The company subsequently expanded into motorcycle manufacturing and then into automobile manufacturing in the late 1990s.

Geely received approval from the Chinese government to manufacture automobiles in 1997, making it one of the first private Chinese companies to receive such approval. The company launched its first car in 1998, a basic sedan priced at the low end of the Chinese market. Geely's early vehicles were known for their low prices rather than quality or technology, targeting consumers in lower-tier Chinese cities.

Geely listed on the Hong Kong Stock Exchange in 2005, providing capital for expansion and giving international investors access to the company. The listing was an important milestone in Geely's development as a credible automotive company.

In 2010, Geely completed the acquisition of Volvo Cars from Ford Motor Company for approximately 1.8 billion US dollars. The acquisition was widely viewed as a bold and risky move, as Geely was a relatively small Chinese automaker acquiring a globally recognized Swedish luxury brand. Li Shufu promised to maintain Volvo's Swedish identity, engineering culture, and manufacturing presence, and to use Geely's access to the Chinese market to grow Volvo's sales.

The Volvo acquisition proved transformative. Volvo's sales grew significantly under Geely's ownership, driven by strong demand in China and continued performance in Europe and North America. Volvo also became a technology partner for Geely's other brands, sharing platforms and powertrains that elevated the quality of Geely's Chinese-market vehicles.

In 2017, Geely and Volvo jointly launched Lynk & Co, a new automotive brand targeting younger, urban consumers with a connected car concept and a subscription-based ownership model. Lynk & Co vehicles are built on the same platform as Volvo models and are sold primarily in China and Europe.

In 2017, Geely acquired a 49.9 percent stake in Proton, the Malaysian national automaker, and a 51 percent stake in Lotus Cars, the British sports car manufacturer. The Proton acquisition gave Geely a foothold in Southeast Asia, while the Lotus acquisition provided access to a prestigious British sports car brand.

In 2021, Geely launched Zeekr, a premium electric vehicle brand targeting the Chinese market. Zeekr was subsequently listed on the New York Stock Exchange in 2024, providing a separate public market valuation for the brand.

In 2022, Polestar, the electric vehicle brand jointly owned by Geely and Volvo Cars, listed on NASDAQ through a merger with a special purpose acquisition company. Polestar has faced financial challenges as a standalone listed company, requiring continued equity and debt funding from Geely and Volvo Cars.

In 2025, the group produced 4.1 million vehicles globally, including 2.3 million plug-in electric vehicles. New energy vehicles accounted for over 50 percent of total sales for the first time, marking a major milestone in the group's EV transition. Geely Auto Group reported revenue of CNY 320 billion for fiscal year 2025, up from CNY 240 billion in 2024.

In 2025, Geely announced a strategic merger of Zeekr into Geely Auto to consolidate its EV operations and streamline its corporate structure. The merger was part of a broader effort to simplify the group's complex ownership hierarchy and improve operational efficiency. The Zeekr brand was expected to operate as a division within Geely Auto Group rather than as a separately listed entity.

Geely has also expanded its international presence, with exports growing significantly in 2025. The group's vehicles are now sold in over 70 countries, with particular growth in Southeast Asia, the Middle East, and Latin America.

Geely has faced several controversies and regulatory challenges throughout its expansion.

In 2009, the Geely GE concept car received significant criticism for closely resembling a Rolls-Royce vehicle, raising questions about intellectual property and brand imitation. The controversy highlighted challenges in Geely's early efforts to establish itself in the premium automotive segment.

In July 2025, Reuters reported that Zeekr, Geely's premium electric vehicle brand, had been involved in sales inflation practices that raised concerns about transparency and consumer rights. The investigation examined whether sales figures were artificially inflated through various reporting mechanisms.

Geely's complex corporate structure, with multiple listed entities at different levels of ownership hierarchy, has been criticized by some investors for lack of transparency and potential conflicts of interest between the various entities. The relationship between the publicly traded Geely Automobile Holdings and the privately held Zhejiang Geely Holding Group has been a subject of regulatory scrutiny. The 2025 Zeekr merger was partly a response to these concerns, simplifying the corporate structure.

Polestar's financial challenges as a standalone listed company have drawn investor concern, with the brand requiring continued equity and debt funding from Geely and Volvo Cars to support its operations. Questions about Polestar's path to profitability have been a subject of investor and analyst discussion.

Geely's acquisition of Volvo Cars in 2010 was initially met with skepticism from industry observers who questioned whether a Chinese automaker could successfully manage a Swedish premium brand. While Volvo's subsequent growth under Geely's ownership has largely validated the acquisition, integration challenges and cultural differences have required careful management.

The group faces regulatory scrutiny related to automotive safety standards, emissions regulations, and trade policies in multiple markets. Chinese automotive manufacturers face increasing scrutiny in Western markets, particularly in Europe and the United States, where concerns about subsidies and market access have led to tariff discussions and regulatory reviews.