Geely strong 2017 sales, Geely Auto Group has subsequently set its 2018 sales volume target to 1.58 million units including the sales volume target for Lynk & Co-branded vehicles: Lynk & Co 01 and Lynk & Co 02. Geely Auto Group has four independent design centres in Shanghai, Gothenburg, Barcelona and California as well as four R&D centres in Hangzhou, Ningbo, Coventry, and Gothenburg capable of independently researching and producing full car parts, engines, transmissions and electrical systems. In Gothenburg, the group has established CEVT, a joint research and development centre between Volvo Cars and Geely Auto to create an industry
Geely () (, ), a subsidiary of Geely, is listed on the Hong Kong Stock Exchange. On 13 February 2017, it became a constituent of the Hang Seng Index. Geely () means "auspicious" or "lucky" in Mandarin Chinese. Founding Geely in 1986 as a refrigerator maker with money borrowed from family, Li Shufu transformed the company into a success selling inexpensive products to Chinese consumers. After the purchase of a failing, state-run firm, Geely manufactured motorcycles in the mid-1990s. Small van production began in 1998, and a year later, it received state approval to manufacture automobiles. Car production began in 2002.