Geely Holding 9th Year on Fortune Global 500
- Geely Holding ranked 243rd in 2020 Fortune Global 500
- Geely Holding listed on Fortune Global 500 for ninth consecutive year.
2020 August 10, Hangzhou China. Zhejiang Geely Holding Group (Geely Holding), China’s largest privately-owned automotive technology company was listed in the 2020 Fortune Global 500 for the 9th consecutive year with a ranking of 243rd after its last year’s revenues reached US$47.886 billion. Since first entering the Fortune Global 500 in 2012, Geely Holding has risen over 200 places. Geely Holding marked its latest inclusion in the Fortune 500 by issuing the following summary of its progress from the past year:
Geely Holding made great progress in 2019 with record sales from its subsidiary brands and partners. All together, the brands under Geely Holding management sold over 2.17 million vehicles last year. Brands managed under Geely Auto Group saw sales exceeding 1.46 million units. Meanwhile, Volvo Cars set a new record as it breached the 700,000 mark for the first time since the company was founded in 1927, selling 705,452 vehicles in 2019, a growth of 9.8% compared to the same period in 2018.
Geely Holding’s rapid development over the past decade has been a result of continuous technological innovation. In a new era of technology represented by advancements in 5G connectivity, Internet of Things, AI, and big data, the way people travel is changing. Geely Holding is proactively meeting the challenges of the times, seizing historic opportunities, investing in advanced scientific R&D, strengthening its innovative capabilities, and driving technological transformation.
This year, Geely Holding announced their entry into the commercial satellite sector and established China’s first privately owned intelligent satellite production and testing centre with the first satellites scheduled to be launched later in the year. Geely Holding’s entry into satellites dovetails into the Group’s plan to develop a three-dimensional mobility ecology with low-orbit satellites providing valuable accurate navigation and data services. This year, Geely Holding also witnessed autonomous drive leader, Waymo becoming the exclusive global L4 autonomous drive partner to Volvo, Polestar, and Lynk & Co. Advancing in the field of vehicle connectivity, Geely Auto launched its GKUI19 system, leading the industry in a new era of vehicle to everything connectivity. In 2020, GKUI saw its users exceed 2 million.
The key to Geely Holding’s success in globalization has always been “integrated development” which is best showcased by the Group’s acquisition of Volvo in 2010. Over the past decade, the Geely Volvo partnership has gone from being questioned to admired, from being revitalized to becoming a leader. The collaboration between Geely and Volvo has become a fundamental case study for top business schools around the world including Harvard, CEIBS, Lyon, Peking, Tsinghua, Zhejiang, Fudan, and others.
Investing over 100 billion RMB over the past decade, Geely Holding’s subsidiary Geely Auto Group has established a global network of five global research centers and five global design studios, developing new products based on four modular vehicle architectures, SPA, CMA, BMA, and PMA. In 2020, the Geely Auto brand officially entered into the Innovative Geely 4.0 era with the release of its “CMA Super Matrix” and plans to launch a full range of modular architecture based models. Since its establishment, Geely Auto has sold more than 9.6 million vehicles and is set to reach the historic milestone of 10 million vehicles in the second half of 2020.
Global partnerships and win-win cross border collaborations has become a cornerstone of Geely Holding’s business. In past year the high-end global joint venture brand between Geely Auto Group and Volvo, Lynk & Co reached a milestone 300,000 in sales with plans to enter Europe later this year. Geely Holding and Daimler established a global joint venture for the smart brand and a high-end mobility service “StarRides” in China. The two automotive giants also became joint investors in the urban air mobility service, Volocopter. Geely Holding has also continued to help PROTON and Lotus revitalize themselves. Last year, PROTON saw its sales exceed 100,000 vehicles and rise to being the second-best selling brand in Malaysia.
As a global socially responsible enterprise, Geely Holding has always committed itself to giving back to society. Faced with a global coronavirus epidemic, Geely Holding immediately established a 200 million RMB fund to support epidemic prevention and control efforts around the world and helped partners throughout its industrial chain safely resume operations. This year also marked the fifth year of Geely’s “Timely Rain” targeted poverty alleviation project which over time have invested more than 550 million RMB in fighting poverty and helping more 30,000 households. In the support of education, Geely has always invested without the expectation of return. To date, the Group has established 9 private colleges and universities, helping prepare more than 150,000 young talents for society. In July of this year, the Chengdu campus of Geely College was opened in partnership with Peking University and the Beijin School at the Hunan University of Technology and Business was successfully integrated into Geely’s Xiangtan Institute of Technology, enriching the educational environment of Western and Central China. Faced with an unpredictable global economy, Geely is actively embracing change, leading through innovation, collaborating with global partners, and promoting change in the mobility sector as it transforms into a global mobility technology group. Through its efforts, Geely aims to provide users with a more perfect experience and a more sustainable future.