The company grew 20.7% year-on-year, with international sales reaching 1,115,299 units, up 22%. In November, Geely delivered 355,021 vehicles, up 20.7% year-on-year.
Of these, Geely Auto has achieved 1,966,512 vehicles, nearly completing 98.3% of the yearly plan and is expected to exceed the plan by the end of December.
The Geely, Lynk & Co and Zeekr brands are expanding steadily in new markets such as the Middle East, Eastern Europe, Asia Pacific and Latin America, thanks to the launch of 12 products in 30 countries in the first half of 2024.
In particular, Geely Auto's export sales grew strongly with an increase of 56% year-on-year.
In Vietnam, Geely sees this as a potential market with a low car ownership rate but a fast growth rate. The Ministry of Industry and Trade forecasts that the Vietnamese car market will grow from 14% to 16% per year, reaching 1-1.1 million vehicles by 2030, with a target of reaching 4.5-4.7 million vehicles by 2045.
To exploit this opportunity, Geely has signed a strategic cooperation agreement with Tasco Joint Stock Company, officially establishing a joint venture to assemble and distribute automobiles in Vietnam. The project has a total investment of 168 million USD (about 4,233 billion VND), expected to assemble 75,000 vehicles per year in phase 1.
The factory is expected to be built in Thai Binh province, going into production in 2026, with Lynk & Co and Geely Auto car lines.
Along with that, Tasco Auto will also distribute Geely car models in Vietnam, expected to launch in March 2025, bringing Vietnamese consumers high-quality, reasonably priced car products.
