BUSINESS

Geely Sets Sights on Top Five Spot in Global Auto Rankings by 2030

Published: Jan. 24, 2026 2:14 a.m. GMT+8

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Geely Automobile Holdings Ltd.’s headquarters in Hangzhou, Zhejiang province. Photo: IC photo

Geely Holding Group Co. Ltd. has laid out an aggressive plan to vault into the ranks of the world’s top five automakers by 2030, aiming to lift annual vehicle sales to 6.5 million.

The Hangzhou-based conglomerate on Thursday unveiled a new set of strategic goals, including a target of more than 1 trillion yuan ($144 billion) in annual global revenue. Its sprawling portfolio includes Geely Automobile Holdings Ltd., Volvo Cars, Polestar Automotive Holding, Proton AG and Farizon Auto.

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Geely aims to become a top 5 global automaker by 2030, targeting annual sales of 6.5 million vehicles and over 1 trillion yuan ($144 billion) in revenue.
In 2025, Geely sold 4.1 million vehicles (up 26%), with plans for NEVs to make up 75% of sales and one-third of volume from overseas by 2030.
Facing a cooling Chinese market, Geely is restructuring, targeting premium segments, and streamlining operations for cost and development efficiency.

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Who’s Who

Geely Holding Group Co. Ltd.: Geely Holding Group Co. Ltd. aims to be a top five automaker by 2030, targeting 6.5 million annual vehicle sales and over 1 trillion yuan in revenue. Its strategy emphasizes overseas markets and premium electric/hybrid vehicles, with new energy vehicles (NEVs) projected to comprise 75% of sales by 2030. The company also plans to launch new hybrid technology and enhance its NEV architecture.

Geely Automobile Holdings Ltd.: Geely Automobile Holdings Ltd. is a key part of Geely Holding Group, contributing 3.025 million units to the group's 2025 sales. The CEO, Gan Jiayue, plans to broaden powertrain options and introduce new hybrid technology in 2026. The company is actively developing a global new-energy vehicle (NEV) architecture to cut development times and costs.

Volvo Cars: Volvo Cars is part of Geely Holding Group Co. Ltd.'s extensive portfolio. In 2025, Volvo Cars recorded sales of 710,000 units. The Geely Holding Group aims to become one of the top five global automakers by 2030, with a significant focus on premium electric and hybrid vehicles, a strategy that likely influences Volvo Cars' direction.

Polestar Automotive Holding: Polestar Automotive Holding is part of Geely Holding Group Co. Ltd.'s sprawling portfolio of automotive brands. Geely aims to be among the world's top five automakers by 2030, with Polestar contributing to their goal of 6.5 million annual vehicle sales.

Proton AG: Proton AG is part of Geely Holding Group Co. Ltd's extensive portfolio of automotive brands. Geely aims to reach 6.5 million annual vehicle sales by 2030, with Proton AG contributing to this ambitious growth strategy, particularly through international expansion and a focus on new-energy vehicles.

Farizon Auto: Farizon Auto is the commercial vehicle arm of Geely Holding Group. In 2025, Farizon Auto posted sales of 162,000 units, contributing to Geely's overall sales growth. This brand is part of Geely's aggressive plan to become one of the top five global automakers by 2030, with a focus on new-energy vehicles and international expansion.

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What Happened When

2024：: Geely sold 3.25 million vehicles in 2024 (4.1 million in 2025 is a 26% jump from the year before).

September 2024：: Geely launched a restructuring drive, consolidating brands and streamlining research operations.

2025：: Geely Holding Group sold 4.1 million vehicles; Geely Automobile contributed 3.025 million units; Volvo Cars sold 710,000 units; Farizon Auto posted sales of 162,000 units; sales of the Galaxy brand surged 150%; NEVs accounted for 56% of total sales.

2026-01-23：: Geely unveiled new strategic goals, including a target of over 1 trillion yuan in annual global revenue.

2026：: Subsidies for lower-priced EVs and purchase tax exemptions expected to decline; Geely plans to roll out a new generation of hybrid technology across four to five new models.

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