SHANGHAI/BEIJING, Jan 22 (Reuters) - Geely Holding Group said on Thursday that it targets global sales of over 6.5 million vehicles by 2030, aiming to rank among the world's top five automakers in an intensifying competition with established global rivals.
The closest Chinese rival to BYD expects one-third of its total sales to come from overseas shipments by the end of the decade, when its annual revenue is estimated to top 1 trillion yuan ($143.62 billion), according to a company statement.
The target
would position Geely, the Chinese owner of Volvo Cars, alongside current global players such as Hyundai Motor Group and Stellantis NV. Geely said sales of all brands, including Geely Auto, Zeekr, and Volvo, would collectively hit over 4 million vehicles annually in 2025, which would rank it seventh globally.
Geely, which overtook Volkswagen in China last year, is part of a wider wave of Chinese automakers setting aggressive global goals, particularly in fast-growing markets such as Southeast Asia and Latin America.
The competitive push also includes newcomers such as 10-year-old Leapmotor, which said in December it aims to become one of the world’s top 10 automakers within the next decade with annual sales of 4 million units.
As part of its expansion strategy, Geely plans to develop new energy vehicle architectures spanning A- to E-class models, aiming to shorten research and development cycles and cut average production costs per model by more than 30%.
Geely has also deepened partnerships with international automakers, including Renault Group, to co-develop and produce vehicles using Geely's platforms for overseas markets.
($1 = 6.9627 Chinese yuan renminbi)
(Reporting by Zhang Yan, Qiaoyi Li and Brenda Goh; Editing by Muralikumar Anantharaman and Louise Heavens)
