Geely moves up 4 spots on Fortune Global 500 list

The 2021 Fortune Global 500 list is out and Zhejiang Geely Holding Group is on the list for the 10th consecutive year. The group recorded a revenue of USD 47.191 billion (RM 200 billion) in 2020 allowing it to rank 239th on the list. Since entering the list in 2012, Geely’s ranking has risen over 200 places.

To mark their success, Geely Holding released a list of accomplishments the group experienced throughout 2020.

Despite the difficult year caused by the global Covid-19 pandemic, the group managed to see profits grow nearly 10 percent as sales from its subsidiary brands and partners exceeded 2.1 million units.

Brands under Geely Auto Group (Geely Auto, Proton, Lynk & Co, and Lotus) saw sales exceeding 1.32 million units. Geely Auto Group also ranked first in sales amongst Chinese automotive brands for the fourth consecutive year.

Also read: Proton's distant cousin, Lynk & Co has 7 models on sale; Here's a handy guide

Other than the successful sales of its cars, Geely Holding also established several collaborations and global partnerships with various companies in 2020. The companies are namely Daimler AG, Baidu, Foxconn, and Concordium.

With Daimler, Geely launched plans to collaborate on developing powertrain systems for next-generation hybrid vehicle applications. Meanwhile, Geely is also partnering with Baidu to develop a new generation of connected and intelligent electric vehicles.

Also read: Proton’s new cousin, Smart, is building new all-electric architecture

On another front, Geely established a joint venture with Foxconn to provide OEM production and customised consulting services to global automakers. The group is also working with Denmark’s Concordium Foundation to bring blockchain technology and services to China.

In 2020, Geely Holding also launched the world’s first open-source electric vehicle architecture known as the Sustainable Experience Architecture (SEA).

Also read: Geely: From city cars to buses, SEA platform will be the gold standard for EVs

The platform will be used amongst the brands under Geely Auto Group as well as the brands that Geely Holding has a partnership with like Smart. The first brand to utilise the new SEA platform is the company’s pure electric brand Zeekr.

Other than that, Geely Holding and Volvo established a global joint venture, Aurobay, for its powertrain operations.

Also read: Geely and Volvo’s new joint powertrain operations, Aurobay could supply future Proton models

The group has now set its sights to continue sustainable development, increasing market share, global expansion, and creating greater value for users around the world for the next decade.