Geely Earned Over 100B Yuan in 2021, Up 10.3% YoY
Geely Auto Group released its 2021 financial report on Wednesday, showing that the listed firm achieved annual revenue of 101.6 billion yuan ($15.9 billion), a year-on-year increase of 10.3%. The profit attributable to shareholders after deducting share-based payment was 6.06 billion yuan, a year-on-year increase of 9.4%. Profit attributable to shareholders was 4.85 billion yuan, while the net profit was 4.35 billion yuan.
In 2021, Geely sold 1.328 million vehicles. On average, Geely (including Link & Co) earned 87,672 yuan from each vehicle, up 9.0% year-on-year.
Specifically, Geely’s China Star series sold more than 200,000 vehicles last year. Meanwhile, the cumulative sales volume of Link & Co exceeded 650,000 vehicles, and its average weighted transaction price reached 165,000 yuan.
Geely launched a new pure electric brand called Zeekr in April 2021, and has delivered a total of 12,453 units of the Zeekr 001 model over the past four months since October 2021. The average price of a Zeekr 001 model reached 335,000 yuan. In the next three years, Geely will launch six new models within this brand.
Geely’s investment in R&D totaled 5.5 billion yuan in 2021, up 16.1% year-on-year, while that of the past five years totaled 25.6 billion yuan. Geely will continue to increase R&D investment in new energy vehicles in 2022.
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Geely holds that its new power exchange brand Livana Auto will open up a new pattern for electricity exchange between battery and new energy forms. Also, it is scheduling the release of more than eight models, the “Raytheon Hi • X” oil-electric hybrid and super-electric hybrid vehicles.
Geely will pay more attention to independent development of software and the application of a new generation of intelligent driving and intelligent cockpits. In terms of the latter, the “New Generation Intelligent Cockpit” technology based on 7nm chip will be unveiled this year, and applied on the new intelligent SUV. In terms of automated driving, Zeekr and Mobileye will deepen cooperation and launch the world’s first all-electric vehicle with L4 automated driving capability in 2024.
