Quick Answer: Geely was founded by Li Shufu in 1986 and entered carmaking in 1997. Zhejiang Geely Holding Group sits above several separately governed companies, while Hong Kong-listed Geely Automobile Holdings consolidates Geely, Lynk & Co and Zeekr. In H1 2026, the listed company reported RMB173.6 billion in revenue and 1,422,958 vehicle sales. An Conghui became its chairman on August 18; Li Shufu left the listed-company chair and executive-director roles but remained its controlling shareholder.
Updated October 13, 2026: Added January–September brand volumes and growth alongside September sales, explaining period comparisons and Galaxy double counting. Historical sections retain their dated sources.
Cover: Geely Group headquarters in Hangzhou, photographed February 24, 2025; historical company context, not the September sales announcement. Photo: Huandy618 / Wikimedia Commons, CC0.
Page role: This is BYDToday’s single owner for the Geely group and founder Li Shufu. Existing Geely sales, export, Galaxy, Zeekr and Lynk & Co articles remain supporting pages rather than competing group-history URLs.
Geely brand sales: September versus the first nine months of 2026
Geely Automobile Holdings’ October 1 release reports 292,168 September vehicles, up 7%, versus 2,235,481 for January–September, up 3%.
| Reporting line | September | Jan–Sept | Jan–Sept YoY |
|---|---|---|---|
| Geely | 236,459 | 1,750,960 | −2% |
| ↳ Galaxy, included above | 130,479 | 877,184 | 0% |
| Lynk & Co | 18,493 | 196,117 | −19% |
| Zeekr | 37,216 | 288,404 | +101% |
| Listed-company total | 292,168 | 2,235,481 | +3% |
Reading the trend: Geely’s September growth of 7% coexists with a 2% cumulative decline; Zeekr grew in both periods. A stronger month does not erase earlier weakness. September is already inside the cumulative column: never add the two periods.
Avoid double counting: Geely + Lynk & Co + Zeekr equals the listed total. Galaxy is a Geely subset; Proton is separate. These are unaudited company sales, not proof of retail registrations, profitability or the wider Holding group’s volume.
What changed at Geely Auto in August 2026?
Geely Automobile Holdings reported RMB173.6 billion in revenue for the first half of 2026, up 15% year on year, while profit attributable to owners of the parent fell 1.8% to RMB9.091 billion. On August 18, An Conghui became chairman of the Hong Kong-listed company, replacing founder Li Shufu, and Gan Jiayue became chief executive. The filing says Li Shufu remains a substantial and controlling shareholder of the listed company; it does not state that his separate roles elsewhere in the wider Geely portfolio changed.
What did Geely Auto report for H1 2026?
Geely Automobile Holdings’ H1 filing covers the listed passenger-vehicle group, including Geely, Lynk & Co and Zeekr. It is not a combined income statement for every company in the wider Geely Holding portfolio.
| Measure | H1 2026 | Year-on-year change | How to read it |
|---|---|---|---|
| Revenue | RMB173.600 billion | +15% | HKFRS revenue of the listed group. |
| Profit attributable to owners | RMB9.091 billion | -1.8%; the summary table rounds this to -2% | Statutory parent-attributable profit. This is the figure that should not be replaced by the core-profit measure. |
| Core profit attributable to owners | RMB9.684 billion | +46% | A non-HKFRS measure that excludes after-tax foreign-exchange effects and impairment losses on non-financial assets. |
| Gross profit margin | 17.9% | +1.6 percentage points | The company attributed the improvement to product mix, exports, scale, synergies and cost control. |
| Vehicle sales | 1,422,958 | +1% | Listed-group sales for the six months ended June 30. |
| New-energy vehicle sales | 799,454 | +10% | 56.2% of Geely Auto’s H1 volume; the filing split this into 461,416 BEVs and 338,038 PHEVs. |
| Exports | 474,228 | +158% | 33% of listed-group volume; this is export volume, not overseas retail registrations. |
| New-energy exports | 277,189 | +585% | 58.5% of export volume; do not add it again to total exports. |
Geely Auto kept its full-year goal at 3.45 million vehicles. After 1,422,958 units in the first half, the company would need 2,027,042 units in the second half, or about 337,840 per month. That required monthly pace is roughly 42% above the H1 average, a BYDToday calculation rather than company guidance. The board also resolved not to pay an interim dividend.
Who leads Geely Auto after August 18?
The August 17 governance filing changes the leadership of Geely Automobile Holdings Limited, stock codes 175 and 80175 in Hong Kong. The announcement applies only to Geely Automobile Holdings; it does not state that Li Shufu left or changed any role at Zhejiang Geely Holding Group, Volvo Cars or another portfolio company.
| Person | Change | Continuing status |
|---|---|---|
| Li Shufu | Resigned as board chairman and executive director; appointed honorary chairman for life. | Remains a substantial and controlling shareholder. The honorary title is outside the listed company’s corporate-governance structure. |
| An Conghui | Appointed board chairman. | Continues as an executive director. |
| Gui Shengyue | Moved from chief executive to vice chairman. | Continues as an executive director. |
| Gan Jiayue | Appointed chief executive. | Continues as an executive director. |
| Daniel Li Donghui | Resigned as vice chairman. | Continues as an executive director. |
Geely Auto said Li Shufu had no disagreement with the board and, as of the announcement, had no present intention to reduce his shareholding. Those statements describe the filing date; they are not a permanent lock-up commitment. The company described An Conghui’s appointment as an orderly succession and said its directors would continue to manage potential conflicts connected with his role in the controlling-shareholder group.
Primary filings: Geely Auto / HKEX, H1 2026 interim results and leadership-change announcement, both published August 17, 2026.
What is Geely—and which Geely does a number describe?
“Geely” can mean three different things. Zhejiang Geely Holding Group is the privately controlled parent and investment group founded by Li Shufu. Geely Automobile Holdings Limited, stock code 0175.HK, is the Hong Kong-listed passenger-vehicle company. Geely Auto is also a consumer vehicle brand inside that listed company. Confusing those layers produces false ownership and sales claims.
Geely Holding reported 4,116,321 aggregate vehicle sales for 2025 across its broad automotive portfolio, including passenger cars and commercial vehicles. It reported 2,293,099 electrified and clean-alternative-fuel vehicles, equal to 56% of that total. Geely Auto reported a narrower 3,024,567 vehicles and 1,687,767 electrified or new-energy vehicles. Zeekr and Lynk & Co are consolidated in the Geely Auto figure, so adding their sales again would double count them.
The distinction also applies to revenue, profit and debt. Financial results for Geely Auto, Volvo Cars, Polestar or Lotus Technology belong to different listed reporting groups. The August 17, 2026 interim-results filing used in this update belongs to Geely Automobile Holdings: its RMB173.6 billion revenue and RMB9.091 billion parent-attributable profit are not results for Geely Holding, Volvo Cars, Polestar or Lotus Technology.
Who is Li Shufu?
Li Shufu, also known internationally as Eric Li, was born in 1963 and founded the business that became Geely Holding. Volvo Cars lists him as founder and chairman of Zhejiang Geely Holding Group and chairperson of the Volvo Cars board. At Hong Kong-listed Geely Automobile Holdings, Li Shufu resigned as chairman and executive director effective August 18, 2026; that filing concerns the listed company and does not state that his separate roles elsewhere changed.
Geely’s own history dates the entrepreneurial start to 1986, initially in refrigerator parts. The company entered motorcycles in 1994 and the automotive industry in 1997. The first Geely Haoqing car left the line in 1998, and Geely later became the first privately owned Chinese automaker admitted to the national vehicle-manufacturer catalogue.
Li Shufu’s current relevance is larger than a founder biography. The August 17 filing says he remains a substantial and controlling shareholder of Geely Automobile Holdings and had no present intention to reduce that stake as of the announcement. His honorary-chairman-for-life title sits outside the listed company’s corporate-governance structure. An Conghui now chairs the board and Gan Jiayue is chief executive, while each separately listed portfolio company keeps its own governance and reporting boundary.
The Geely brand and ownership map
| Company or line | Main brands | Relationship | Reporting boundary |
|---|---|---|---|
| Geely Auto, 0175.HK | Geely, Geely Galaxy, Lynk & Co, Zeekr | Geely Holding is the lead shareholder; Zeekr became a wholly owned subsidiary in December 2025. | Hong Kong-listed passenger-vehicle group; consolidates Zeekr and Lynk & Co. |
| Volvo Cars, Stockholm-listed | Volvo | Geely Sweden Holdings remained the largest shareholder at 78.65% in the latest cited report. | Separate listed company with its own board, results and public shareholders. |
| Polestar, Nasdaq-listed | Polestar | Supported by Geely Sweden, Volvo Cars and Li-controlled PSD Investment; filings identify Li Shufu as the effective controlling person. | Separate public company; not a Geely Auto brand-sales line. |
| Lotus group and Lotus Technology | Lotus Cars | Geely acquired 51% of Lotus Group in 2017; later filings show control through several Geely- and Li-linked entities. | Lotus Technology is separately Nasdaq-listed; ownership is more complex than one 51% slogan. |
| PROTON | Proton | Geely holds a 49.9% strategic stake alongside Malaysian majority owner DRB-HICOM. | Its vehicle sales are included only when Geely Holding publishes aggregate portfolio totals. |
| smart joint venture | smart | 50:50 joint venture between Mercedes-Benz and Geely Holding. | Joint company, not a wholly owned Geely Auto unit. |
| Farizon commercial vehicles | Farizon | Commercial-vehicle business within the wider Geely Holding portfolio. | Outside the core Geely Auto passenger-brand comparison. |
Two common mistakes follow from this map. Volvo Cars is not the same company as Sweden’s AB Volvo truck group, and Geely’s investment relationship with Mercedes-Benz does not make Mercedes-Benz a Geely brand. The word “portfolio” can describe strategic influence without implying 100% ownership or one accounting perimeter.
How the Volvo acquisition changed Geely
Geely Holding completed its purchase of Volvo Cars from Ford in 2010 for about US$1.8 billion. The transaction gave a Chinese private automaker control of a global premium car company with deep safety, engineering and international manufacturing capabilities. Volvo Cars continued to operate with its own brand, management and product development rather than becoming a rebadged Geely line.
The industrial influence ran in both directions. Shared architecture, engineering and procurement capabilities helped create CMA-based products and Lynk & Co, while Volvo gained capital and access to Chinese production and demand. In 2021, Volvo Cars listed shares in Stockholm, leaving Geely Sweden as the controlling shareholder rather than the sole shareholder.
Acquisitions and partnerships that built the portfolio
| Year | Transaction or move | What Geely gained | What it did not mean |
|---|---|---|---|
| 2010 | Acquired Volvo Cars from Ford | Control of a global premium carmaker and a platform for engineering collaboration. | Volvo Cars did not become the Geely consumer brand. |
| 2016 | Launched Lynk & Co with Volvo Cars | A global premium brand using shared engineering and CMA. | It was not originally a wholly separate listed automaker. |
| 2017 | 49.9% Proton partnership and 51% Lotus acquisition | South-East Asian scale and entry into British performance/luxury cars. | Proton was not fully acquired; Lotus later developed a separate listed structure. |
| 2019–2020 | Formed smart joint venture with Mercedes-Benz and launched SEA | A global EV joint venture and reusable electric architecture. | Mercedes-Benz did not become a portfolio brand. |
| 2021–2024 | Created Zeekr; later listed it on NYSE | A premium EV business with external capital and separate reporting. | The listing was not permanent. |
| 2024–2025 | Taizhou Declaration; integrated Lynk & Co and privatized Zeekr | A unified Geely Auto listed platform and fewer duplicated functions. | Volvo, Polestar and Lotus were not merged into 0175.HK. |
What “One Geely” actually changes
Li Shufu introduced the Taizhou Declaration in September 2024 around focus, integration, synergy, resilience and talent. The operating problem was straightforward: a fast-growing portfolio had accumulated parallel R&D, procurement, manufacturing, software, marketing and capital-market structures.
One Geely first reorganized the businesses closest to Geely Auto. Zeekr took a 51% position in Lynk & Co during the integration. Geely Auto then acquired all remaining publicly held Zeekr shares, completing the merger on December 22, 2025. Zeekr ceased to be NYSE-listed and became a wholly owned subsidiary of Geely Auto. That made 0175.HK the unified listed platform for Geely, Lynk & Co and Zeekr.
The strategy now extends to shared architectures, software, AI, procurement, manufacturing capacity, sales systems and global back-office operations. Current European plans use Geely and Zeekr as distinct consumer brands while sharing resources behind them. This is integration without erasing market positioning.
Geely’s new-energy strategy after integration
Geely is not betting on one propulsion type. Its official 2030 blueprint combines battery-electric vehicles, plug-in hybrids, methanol-hydrogen applications and new-energy commercial vehicles. For passenger cars, the central structure is clearer after One Geely:
- Geely and Galaxy: mainstream scale. Galaxy, also described internationally as Geely NEV, is the main electrified product family rather than a separate listed automaker.
- Lynk & Co: premium global products spanning plug-in hybrid and battery-electric models.
- Zeekr: upper-premium and luxury new-energy vehicles, now wholly inside Geely Auto.
- Volvo, Polestar and Lotus: separately governed global brands whose platforms, supply chains and technology relationships can still create group synergies.
- Farizon: commercial-vehicle electrification, charging, battery-swap and alternative-fuel applications outside the passenger-car total.
Geely Holding’s 2030 targets are more useful than individual concept-car promises: more than 6.5 million annual vehicles, 75% new-energy penetration and over one-third of sales outside China. It also targets shared A- to E-segment new-energy architectures that reduce model-development time and cost by more than 30%. These are company targets, not guaranteed outcomes.
The technology ecosystem includes central computing, assisted driving, battery systems, hybrid powertrains, Flyme Auto and satellite connectivity. Geely’s official history says the first phase of its mobility constellation reached 64 in-orbit satellites in 2025. That capability can support positioning and communications, but it should not be confused with autonomous-driving approval or a separate vehicle brand.
How to read Geely sales and news without double counting
| Metric | 2025 result | Included scope | Correct use |
|---|---|---|---|
| Geely Holding aggregate sales | 4,116,321 | Broad portfolio including Geely Auto brands, Volvo, Polestar, Lotus, Proton, smart and commercial vehicles. | Measure portfolio reach; do not treat as 0175.HK sales. |
| Geely Holding electrified/clean vehicles | 2,293,099; 56% | Multiple new-energy and alternative-fuel definitions across the portfolio. | Measure group transition; do not equate automatically with China NEV statistics. |
| Geely Auto total sales | 3,024,567 | Geely, Lynk & Co and Zeekr under the Hong Kong-listed group. | Use for 0175.HK operating analysis. |
| Geely Auto electrified/NEV sales | 1,687,767 | BEV, PHEV and electrified products within the listed group. | Compare only after matching each competitor’s definition. |
For a historical monthly comparison, use the existing Geely May sales report. BYDToday also maintains separate export analysis, while the 2026 product and NEV target page is a forward-looking supporting page, not a substitute for this ownership map.
Where the strategy can fail
- Integration can blur brands. Sharing platforms and channels saves money only if Geely, Lynk & Co and Zeekr retain clear customer reasons to exist.
- Complex ownership can hide risk. Volvo Cars, Polestar and Lotus have their own balance sheets, capital needs and public shareholders even when Li Shufu exercises influence.
- Targets are not results. The 2030 sales and penetration figures depend on pricing, exports, regulation and demand.
- Global localization is expensive. Plants, homologation, retail, service and data compliance must be rebuilt market by market.
- Technology claims require model checks. A group architecture or AI announcement does not prove every vehicle has the same hardware, software or legal capability.
Recent supporting coverage illustrates both sides. Geely is adding overseas manufacturing and aims for 100,000 combined Zeekr and Lynk & Co overseas sales in 2026, as covered in BYDToday’s globalization update. Zeekr’s 800,000-delivery milestone shows premium scale, while Galaxy product coverage shows how the mainstream line competes at a different price point.
Continue in the wider system: Use the China NEV Knowledge Hub to move between company and founder owners, technologies, vehicles and markets.
Frequently Asked Questions
Who founded Geely?
Li Shufu, also known as Eric Li, founded the business that became Zhejiang Geely Holding Group in 1986. On August 18, 2026, he left the chair and executive-director roles at listed Geely Automobile Holdings but remained its controlling shareholder.
Who is chairman of Geely Auto now?
An Conghui became chairman of Geely Automobile Holdings on August 18, 2026, and Gan Jiayue became chief executive. The filing concerns the Hong Kong-listed company, not every company in the wider Geely Holding portfolio.
Did Li Shufu leave Geely?
Li Shufu left the chairman and executive-director roles at Geely Automobile Holdings on August 18, 2026, but remained a substantial and controlling shareholder. The company also appointed him honorary chairman for life, an honorary role outside its corporate-governance structure. The filing does not state that his separate roles elsewhere changed.
What did Geely Auto report for H1 2026?
Geely Automobile Holdings reported H1 2026 revenue of RMB173.600 billion, up 15%, and profit attributable to owners of RMB9.091 billion, down 1.8%. Its RMB9.684 billion core profit, up 46%, is a separate non-HKFRS measure.
Does Geely own Volvo?
Geely Holding controls Volvo Cars through Geely Sweden Holdings, which held 78.65% in the latest cited annual report. Volvo Cars is still a separately listed Swedish company with public minority shareholders.
Which brands are inside Geely Auto?
Hong Kong-listed Geely Auto’s core passenger structure covers the Geely and Geely Galaxy product lines, Lynk and Co and Zeekr. Zeekr became a wholly owned Geely Auto subsidiary in December 2025.
Should Galaxy be added to Geely Auto’s total?
No. The September 2026 release puts Galaxy within the Geely brand row. Adding it again to Geely, Lynk and Co and Zeekr would double count those vehicles.
What does One Geely mean?
One Geely is the strategy to integrate technology, procurement, manufacturing, software, channels and global operations. It created a unified listed platform for Geely, Lynk and Co and Zeekr, but did not merge every Geely Holding portfolio company.
How many vehicles did Geely sell in 2025?
Geely Holding reported 4,116,321 aggregate portfolio sales. The narrower Hong Kong-listed Geely Auto group reported 3,024,567. Both are valid, but they measure different company scopes.
Sources
- Geely Auto / HKEX, H1 2026 interim results, August 17, 2026
- Geely Auto / HKEX, leadership-change announcement, August 17, 2026
- Geely Holding, group overview and business and brand structure
- Geely Holding, official history timeline
- Geely Holding, 2025 portfolio sales and reporting-scope note, January 9, 2026
- Geely Holding, One Geely 2030 strategic blueprint, January 22, 2026
- Geely Holding, Taizhou Declaration, September 20, 2024
- Geely Auto / HKEX, 2025 annual report
- Geely Auto / HKEX, completion of the Zeekr merger, December 22, 2025
- Volvo Cars, Li Shufu official biography and 2025 ownership disclosure
- Polestar / SEC, 2025 Form 20-F
- Lotus Technology, 2026 beneficial-ownership filing
- BYDToday, Source Methodology and Editorial Policy
