Geely announced a bold plan to become China’s best‑selling car brand by 2026, aiming to outpace BYD with aggressive domestic growth and global expansion. Read the full story now.
During its annual financial results presentation on March 18, Geely Auto revealed an ambitious roadmap to become the best‑selling car brand in China by 2026, directly challenging the market leader BYD.
Domestic sales target
Geely aims to capture the top spot in the domestic market, which means surpassing BYD’s 2025 sales of roughly 3.55 million units. The company set an internal goal of 3 million cars for 2025 and already hit that number, prompting an upward revision to 3.45 million units for 2026.
Financial highlights
In 2025, Geely posted total revenue of CNY 345.2 billion (US$ 50 billion), a 25 % year‑on‑year increase. Core net profit rose 36 % to CNY 14.41 billion (US$ 2.09 billion), and cash reserves climbed to CNY 68.2 billion (US$ 9.88 billion), up 46 % from the prior year.
Premium product strategy – Zeekr leads the charge
The high‑end Zeekr brand is central to Geely’s growth engine. The Zeekr 9X achieved a reported gross margin of 40 %, pushing the group’s overall Q4 2025 gross margin to 16.9 % (up from 16.6 % for the full year). After just two days of pre‑orders, the newly launched Zeekr 8X secured more than 30,000 bookings, confirming strong consumer appetite for premium electric models.
Global expansion plans
Internationally, Geely’s official 2026 export target stands at 640,000 units, with internal aspirations reaching 750,000. To support this, the automaker plans to expand its dealer network to over 1,300 locations worldwide and leverage synergies across the Geely Group, including Volvo, Lotus and Smart.
Key models slated for global rollout include the Galaxy E5, Starship 7, and upcoming Lynk & Co variants (08, 01, Z20) in Europe, using Volvo’s resources for a faster market entry. A Zeekr 7X is also scheduled to debut in South Korea in the first half of 2026.
Charging infrastructure push
Geely’s subsidiary Haohang Energy pledged to build more than 50,000 fast‑charging stations within the next five years. The upcoming Zeekr 001 will support ultra‑fast charging up to 1,500 kW, reinforcing the brand’s EV ecosystem.
How Geely stacks up against BYD
Industry estimates put BYD’s 2024 sales target at 5 million vehicles, a sizable portion of which are exports. In February, BYD’s export volume even outpaced its domestic sales. If half of BYD’s projected 2024 shipments go abroad, Geely’s combined domestic and export push could realistically overtake BYD in the Chinese market.
It’s worth noting that BYD currently focuses almost exclusively on new‑energy vehicles, while Geely still sells conventional internal‑combustion models. In February, Geely’s gasoline‑powered Starray (Boyue L) SUV ranked as the third‑best-selling ICE vehicle in China, trailing only Tesla’s Model Y and Xiaomi’s YU7.
With a dual strategy of premium EVs and a continued ICE lineup, plus a massive investment in sales, branding and charging infrastructure, Geely is positioning itself to not just compete with BYD, but potentially surpass it as China’s automotive frontrunner.