Zhejiang Geely Holding Group (ZGH) climbed 76 places in the 2018 Fortune 500 rankings to 267th place, following the group’s increase in revenues to US$41.1 billion (RM167 billion), and marks the seventh consecutive year that the group has placed in the in the Fortune Global 500 rankings, according to Geely.

Record sales at the group’s core subsidiaries, Geely Auto and Volvo Cars propelled the group to strong results for the year, with Geely Auto charting a 67% year-on-year increase for sales of more than 1.24 million vehicles, while Volvo grew 7% to 571,577 vehicles sold in that time.

The first six months of 2018 saw Geely attain sales of 766,630 vehicles representing a 45% year-on-year increase, while Volvo Cars saw sales of 317,639 vehicles, representing a 14.4% year-on-year increase. The group attributed Volvo’s growth in that period to the marque’s XC40, XC60 and XC90 models.

The first half of the year also saw Geely unveil the Borui GE, a plug-in hybrid sedan which is similar to Volvo’s T5 Twin Engine hybrid powertrain. Volvo’s sales in its largest single market, China grew by 18.4% to 61,480 vehicles, while the recently established brand Lynk & Co charted sales of 46,252 units for the first half of the year. The past year also saw Geely complete several acquisitions, including that of American flying car company Terrafugia, a 51% controlling stake in British sports car firm Lotus and a 49.9% stake in Malaysian car company Proton.

Venturing into ride-sharing, Geely’s growth also saw the expansion of CAOCAO, the group’s new energy ride-sharing platform to 25 cities with more than 26,000 new energy vehicles in operation; CAOCAO received its service license in early 2017. Further technology ventures included a new joint venture with Tencent and China Railway for high-speed rail WiFi, as Geely diversifies from pure manufacturing into intelligent mobility.

On the local front, Proton’s forthcoming SUV is based upon the Geely Boyue, and will arrive on our shores in October, first in CBU form, followed by CKD assembly in 2019. Equipment-wise, the as-yet-unnamed SUV will gain a host of features in its kit list including autonomous emergency braking, adaptive cruise control and a voice command system.
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