Chinese conglomerate Geely Automobile Holdings Limited has announced historic revenues of 22.247 billion euros during the first half of the year. This figure, reported to the Hong Kong Stock Exchange, has led to a 5% increase in its share value, reaching 18.67 Hong Kong dollars (2.06 euros per share). Despite this improvement, the group's market capitalization remains slightly below the 22.5 billion euros it achieved after the agreement for the Valencian factory.
Geely's total sales volume grew to 1.423 million units, an increase of 1.58%. Net profit attributable experienced a rebound of 46.20%, reaching 1.245 billion euros, largely due to the boost in exports. Overseas sales amounted to 474,228 units, representing a substantial year-on-year increase of 158% and accounting for 33% of the group's total sales.
In its results communication, Geely has underscored the strategic importance of the Ford plant in Almussafes. The group believes that the creation of a joint venture will allow it to leverage the existing manufacturing capabilities, experienced workforce, and consolidated supply chain network of the Valencian facilities. This will accelerate its deployment in the European market and reduce the risks and investment required for a new manufacturing base.
The company highlights that the Valencia plant is a leading automotive manufacturing hub in Europe and will serve as a shared production platform. This collaboration is expected to improve capacity utilization and operational efficiency, generating economies of scale through the sharing of technical resources and expertise. Furthermore, the joint venture will support the development and production of low and zero-emission New Energy Vehicles (NEVs) in Europe, contributing to the factory's sustainable long-term growth.
Geely has accelerated its global expansion, exporting products to 99 countries through 90 commercial agents and 1,712 sales and service points as of June 30. During the first half of the year, the brand established a presence in seven European countries in just 45 days, coinciding with the launch of the Geely E5 and Geely Starray EM-i models.
Looking ahead to the second half of the year, Geely plans to deepen local production agreements, including cooperation with Renault in Brazil and advancing the project with Ford Spain. The group maintains its annual sales target of 3.45 million units, leveraging its technological advantages in new energy and artificial intelligence, as well as the synergies from its global deployment.
