The Group at a Glance
Zhejiang Geely Holding Group (ZGH), is a global automotive group based in the city of Hangzhou in south-east China’s Zhejiang Province. The group was established in 1986 and launched its automotive business in 1997.
ZGH consists of many well-known international automotive brands including Geely Auto, Lynk & Co, Volvo Cars, Polestar, PROTON, Lotus, London Electric Vehicle Company, Yuan Cheng Auto, and Terrafugia with global operations spanning the automotive value chain, from research, development and design to production, sales and servicing.
Zhejiang Geely Holding Group is devoted to becoming one of the top 10 world-leading automotive groups through “creating safe, environmentally-friendly and energy efficient automobiles.” Zhejiang Geely Holding Group shoulders the responsibility for setting the benchmark in China’s automotive industry, promoting a corporate culture of entrepreneurship, and showing others the value of scientific research and development. Geely Holding Group is committed to vigorously pushing the development of world-renowned automobile brands and providing high-quality products for multiple market segments in order to meet different levels of consumer demands.
The Group has over 80,000 employees, including 50,000 at Geely Auto, 31,000 at Volvo Cars, and 1,000 at the London Taxi Company. With total assets of over RMB 100 billion, the company has been a member of the Fortune Global 500 for seven consecutive years.
Geely Auto Group has developed a network of over 1,000 dealerships across China as of December 2018 with over 450 international sales and service points that cover 40 countries. Over 4 million Geely Auto branded vehicles are on the road, making Geely Auto a major brand within China.
Geely Auto Group has five independent design centres in Shanghai, Gothenburg, Barcelona, Coventry, and California as well as five R&D centre in Hangzhou, Ningbo, Coventry, Frankfurt, and Gothenburg capable of independently researching and producing car parts, engines, transmissions and electrical systems. In Gothenburg, the group has established CEVT, a joint research and development centre between Volvo Cars and Geely Auto to create an industry leading compact modular architecture.
Geely Auto Group operates two independent brands; Geely Auto and a new joint-venture brand with Volvo, LYNK & CO. Geely Auto is aimed at the mass market and LYNK & CO is a globally focused premium brand that is aimed at a new generation of consumers.
Other brands managed under Geely Auto Group includes Malaysia’s PROTON and English sports and racing car brand, Lotus.
PROTON is the national car brand of Malaysia. Established in the early 1980’s at the behest of the Malaysian government and later reverted to semi-private ownership under DRB-HICOM, it quickly became a globally recognized brand with exposure in Europe, Southeast Asia, Latin America, and Russia. In 2017, Geely Holding Group acquired a 49.9% stake in the PROTON becoming the brand’s strategic partner.
Lotus Cars is an iconic British sports and racing car brand founded in 1952. Its founder, Colin Chapman believed lightness was key to the development of great sports car. Lotus Engineering, a subsidiary of Lotus Cars has helped developed some of the most iconic and famed cars around. Geely Holding Group acquired majority stake in the brand in 2017.
Volvo is one of the most well-known and respected car brands in the world with sales in about 100 countries through 2,300 local dealers. Volvo Cars produces premium-segment car models in three versions: Sedans, Estates and Cross Country vehicles. In 2017, Volvo Cars sold a total of 571,577 units, the company’s third consecutive year of record sales. Volvo Cars became part of Zhejiang Geely Holding Group on August 2nd 2010.
Until 2017, Volvo also operated a performance car brand, Polestar. Polestar was founded by Polestar Racing, now called Cyan Racing, to explore how the technology behind their multiple title-winning racing success could be applied to Volvo cars on all roads and conditions in everyday life. Today, Polestar is an independent brand under Volvo Car Group focused on high-performance electrified cars.
Geely Commercial Vehicle (GCV) is a new energy commercial vehicle company that acts as a holding company to two core brands: The London Electric Vehicle Company (LEVC) and Yuan Cheng Auto.
London Electric Vehicle Company (LEVC) boasts over 100 sales and after sales centres in over 40 countries and regions. ZGH invested over 300 million GBP in London Electric Vehicle Company in 2015 to develop an entirely new generation of zero emission capable taxi vehicle and a brand new production facility. This new facility, based in Ansty in Coventry, UK, will begin production of a new generation of zero emission capable new taxi vehicle in late 2017.
Yuan Cheng Auto is focused on the development of new energy commercial vehicles and has already launched several long range capable truck and bus solutions. The company is focused on the development and commercial realization of range extended and pure electric technologies for commercial vehicle application.
Geely Group (New Business) is a division made up of innovative brands invested in by Zhejiang Geely Holding Group including CAOCAO, Terrafugia, Qianjiang, Joma, and other investments. The group acts as an incubator for young brands giving them access to Geely global resources.
CAOCAO is a new energy focused mobility services platform invested in by Zhejiang Geely Holding Group. Established in 2017, CAOCAO has already been put into operation in over 20 cities and seen more than 150,000 rides ordered daily. Through the use of new energy vehicles, the platform has reduced carbon emissions by over 300,000 tons and saved more than 150 million litres of fuel compared to the use of traditional taxi vehicles.
Terrafugia is an innovative company founded by five award winning MIT graduates who had the vision and passion to change the way people move about in their environment. Terrafugia’s mission is to create the ultimate mobility solution, flying cars. In November 2017, the company joined Geely Holding Group combining Geely’s entrepreneurial and innovative spirit with Terrafugia’s passion and vision.
Qianjiang Motorcycles is one of the largest producers of motorcycles in China and own several renowned brands including Italy’s Benelli. They are also known for their lithium battery technology developed for vehicle usage. The company was majority acquired by Zhejiang Geely Holding Group in 2016.
Mitime Group is a division within Zhejiang Geely Holding Group that supports the Group’s educational, cultural, and tourism initiatives.
Education has been a core pillar of support in Zhejiang Geely Holding Group’s development. The Group has invested hundreds of millions of RMB in establishing universities and colleges across China including the Beijing Geely University, Sanya University, Zhejiang Automotive Technical School, Hunan Geely Automotive Technical etc. Over 40,000 students are enrolled at the Group funded schools annually with the goal of developing Chinese automotive industry talents.
Geely also actively promotes racing culture throughout China through the Mitime Group. Mitime owns and operates several world-class race tracks throughout China and organizes race events.
Technology & Innovation
ZGH’s global R&D and production capability maximises synergies between its brands, offering each of them a platform on which to share knowledge and resources.
In February, 2013, Geely Auto & Volvo Cars jointly established an R&D centre in Gothenburg, Sweden – the China Euro Vehicle Technology Center ( CEVT). CEVT’s mission is to develop the next generation of modular architecture and components for leading C-segment cars for both Geely Auto and Volvo Cars.
ZGH has invested hundreds of millions of RMB in establishing universities and colleges across China including the Beijing Geely University, Sanya University, Zhejiang Automotive Technical School, Hunan Geely Automotive Technical etc. The wider group has over 40,000 students enrolled within its schools with the goal of developing Chinese automotive industry talents.