Geely unveils ambitious 2030 growth target
Chinese automaker Geely has just released its 2030 development roadmap – and boy is it ambitious.
Some context: Geely has been on an explosive growth trajectory since 2023, driven by surging sales in its new energy vehicle (NEV) division and strong performance from its gasoline vehicle unit.
- Its 2025 global sales rose 26% y/y to 4.11 million units, the fastest growth rate of any major auto group worldwide.
But Geely’s new roadmap, released January 22, makes clear this is only the beginning. By 2030, the company is targeting:
- 6.5 million units in global auto sales – making it among the top five largest automakers worldwide – with NEVs accounting for 75% and overseas markets over a third of total sales
- RMB 1 trillion in annual revenue – nearly triple its expected 2025 revenue
To do this, Geely will invest in its competitors and utilize pre-existing supply chains, through:
- Acquiring distressed existing assets
- Controlling established Western auto brands
- Partnering with established OEMs
Get smart: Geely’s global expansion strategy represents a radically different approach from BYD’s focus on greenfield investments.
- Which model is most successful will determine who gains the upper hand, with major implications for the global auto industry.
Get smarter: China’s automakers are pursuing expansion efforts that far exceed their domestic market, meaning overseas expansion efforts must accelerate – even amid rising protectionism.
- That means OEMs have an increasingly narrow window to grow into global conglomerates before they’re swept away by competitors who succeed.