Geely Auto's sales soared in the first half of the year, revenue reached a new high, and new energy vehicles gained momentum

News on August 23, Geely Automobile released its financial report for the first half of 2023 today, showing impressive performance results. It is reported that Geely Automobile has not only achieved steady growth in total sales in the past six months, but also made significant breakthroughs in the new energy field.

In the first half of 2023, Geely Automobile achieved a total sales volume of 694,000 vehicles, an increase of 13.1% over the same period last year. This performance makes the company's performance show a steady growth trend. At the same time, Geely Automobile's revenue also hit a new high, reaching 73.18 billion yuan, a year-on-year increase of 25.8%. In overseas markets, Geely Automobile's export sales also showed strong growth, with an increase of 38.3%, and export sales accounted for 17.5%. The company's total cash level reached 33.64 billion yuan, and operating cash flow also reached 10.7 billion yuan, a year-on-year increase of 9.1%.

According to the editor’s understanding, Geely Automobile’s performance in the field of new energy vehicles is particularly eye-catching. In the first half of the year, sales of new energy vehicles reached 158,000 units, a staggering 43.9% year-on-year increase. This achievement not only accounted for 22.7% of the overall sales, but also demonstrated Geely Auto's continued upward momentum in the new energy market. In particular, the cumulative delivery volume of Geely's Jikrypton brand increased by 124% year-on-year. The launch performance of the Geely Galaxy L7 was also eye-catching, setting a record for China's hybrid SUV sales of "over 10,000".

In its future development plans, Geely Automobile will continue to actively promote comprehensive electrification and intelligent transformation and give full play to the synergistic strategic advantages between different brands. It is understood that the Geely Galaxy brand will launch long-range plug-in hybrid and pure electric vehicles in the mass market. The Lynk & Co brand is targeting the high-end market, launching mid-sized plug-in hybrid SUV Lynk & Co 08 and other models. At the same time, Geely Automobile will also increase investment in the field of intelligent electrification research and development. Total R&D investment in the first half of this year reached 5.91 billion yuan, a year-on-year increase of 62.8%.

Looking forward, Geely Automobile has set its full-year sales target at 1.65 million vehicles and will accelerate the launch of more competitive new energy models in the second half of the year. It is expected that 6 new models will be launched in the second half of the year, covering different markets and segments. With Geely Automobile's continuous efforts to promote innovation, the new energy vehicle market may usher in more eye-catching performances.

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