Geely Accelerates EV Launches to Challenge BYD's Market Dominance
Chinese automaker Geely is intensifying its electric vehicle strategy by launching four new models before the end of the year, aiming to close the market share gap with industry leader BYD. During a recent earnings conference, executives announced the upcoming releases, including the Galaxy M9 plug-in hybrid, the Lynk & Co 10 EM-P, the premium Zeekr 9X, and the Galaxy Xingyao 6 sports sedan. Geely reported robust first-half 2025 revenue growth of 27% to RMB 150.3 billion, driven largely by its mainstream Galaxy lineup, which saw sales surge to 548,000 units. However, net profit declined by 14% to RMB 9.3 billion due to a 13% drop in average selling prices amid fierce competition. The company’s market share in China exceeded 10% for the first time, placing it just 4% behind BYD. To streamline operations and reduce costs, Geely is finalizing the merger of its premium brand Zeekr with Lynk & Co. Analysts predict that new upscale models like the Zeekr 9X will improve margins in the second half of the year, while Geely continues to compete aggressively in entry-level segments against BYD’s popular models.
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Geely Accelerates EV Launches to Challenge BYD's Market Dominance
Chinese automaker Geely is intensifying its electric vehicle strategy by launching four new models before the end of the year, aiming to close the market share gap with industry leader BYD. During a recent earnings conference, executives announced the upcoming releases, including the Galaxy M9 plug-in hybrid, the Lynk & Co 10 EM-P, the premium Zeekr 9X, and the Galaxy Xingyao 6 sports sedan. Geely reported robust first-half 2025 revenue growth of 27% to RMB 150.3 billion, driven largely by its mainstream Galaxy lineup, which saw sales surge to 548,000 units. However, net profit declined by 14% to RMB 9.3 billion due to a 13% drop in average selling prices amid fierce competition. The company’s market share in China exceeded 10% for the first time, placing it just 4% behind BYD. To streamline operations and reduce costs, Geely is finalizing the merger of its premium brand Zeekr with Lynk & Co. Analysts predict that new upscale models like the Zeekr 9X will improve margins in the second half of the year, while Geely continues to compete aggressively in entry-level segments against BYD’s popular models.
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