On December 7, Geely Automobile Holdings Co., Ltd. (HK.0175) announced the sales data for November 2020. According to data, Geely Automobile's total sales of in November were 150,517 , which was an increase of approximately 7% from the previous month and approximately 5% over the same period of last year. So far, Geely Automobile has sold 1,166,015 units from January to November, and has completed 88% of its 1.32 million annual sales target.
Geely automobile product camp; picture source: Geely Automobile
Specifically, in November, Geely Automobile sold 54,940, 92,992 and 2,585 cars, sports utility vehicles and utility vehicles, respectively. Among them, Lynk&Co's sales in November were 22,798 units, an increase of approximately 4% month-on-month and 61% year-on-year. achieved double growth for eight consecutive months and set the highest monthly sales record for the Lynk & Co brand for five consecutive months.
In the field of new energy, new energy and electrification products such as Geometry A, Geometry C, Emgrand EV, Emgrand GSe, etc., total sales in November were 6,829 . In terms of overseas exports, 's November export volume more than doubled year-on-year to 11,769 vehicles.
2020 is the closing year of my country's "13th Five-Year Plan", and the "14th Five-Year Plan" will also begin. The automobile development plan for the next 15 years has been implemented recently. First is the "Energy-saving and New Energy Vehicle Technology Route 2.0", and then the "New Energy Vehicle Industry Development Plan". From the industrial and national policy levels, it is clearly stated that my country's new energy and new vehicle sales will account for 20% of the total sales by 2025, again firmly The development direction of automobile electrification in my country is unshakable.
In this environment, the electrification of Geely's cars is accelerating. At present, Geely Holding Group has formed two parallel energy-saving and emission-reduction routes in energy conservation and environmental protection, electrification and new energy and other related fields, "high-efficiency fuel power" and "diversified new energy". Specifically, Geely’s new energy strategy is to parallel pure electricity and hybrid technology. Hybrid technology is the first choice for meeting national emission requirements in the short term and cost-effective.
On November 21, Daimler AG and Geely Holding Group jointly announced that they intend to jointly develop hybrid power system solutions to create economies of scale and increase competitiveness in the global market. According to the plan, Geely's second-generation hybrid products will be officially launched on the market next year.
For pure electric vehicles, on September 23 this year, Geely Holding Group officially released its vast SEA intelligent evolution experience architecture, which has been invested in research and development of more than four years and more than 18 billion yuan, which covers the intelligence of the AE market segment. Electric vehicles can shorten the model development cycle by more than 50% . Also released on the same day was the ZERO concept, the first pure electric coupe based on the Haohan architecture, and it was announced that the concept car will be officially launched in 2021.
Lynk & Co ZERO concept; picture source: Geely Automobile
Based on the optimistic view of the vast SEA structure, UBS released a research report that raised the target price of Geely Automobile (0175.HK) from 20 Hong Kong dollars by 25% to 25 Hong Kong dollars. The bank believes that Geely Automobile’s traditional business has ushered in an upgrade cycle after the market recovers, and the new intelligent architecture is also proceeding simultaneously. At the same time, the auto market is full of waves. Share.
In fact, Geely Auto in 2021 will be more than just a mass production version of the ZERO concept. According to Geely Automobile’s official release, 2021 will be the year of its products. Geely Automobile will fully enter the construction vehicle era. Next year, the Geely brand will launch a new SUV model based on the CMA architecture and another sedan, as well as several modified models. As for the Lynk & Co brand, in addition to the Lynk & Co ZERO concept car, the first Lynk & Co model based on the SPA global architecture will also be unveiled.
Geely CMA structure product camp; picture source: Geely Automobile
Facing the future, Lynk & Co will also provide intelligent travel services for the conference in the core area during the 2022 Asian Games in a fully autonomous manner. In order to further consolidate and expand its market share, it will continue to bring new and higher-quality experiences to its users with new products and new technologies.
