Geely Automobile's Net More Than Triples on Record Exports, Robust Sales
Geely Automobile's net profit in 2024 more than tripled on robust sales and record exports, helping cement the company as one of the leading players in China's intensely competitive EV sector.The Chinese automaker said Thursday that its 2024 net profit surged 213% to 16.63 billion yuan, equivalent to $2.30 billion, as revenue rose 34% to 240.19 billion yuan.The robust earnings were largely driven by an outstanding performance in the overseas market and solid sales at home. Its total export wholesale volume rose 57% to 414,522 units, a new record high.Improved economies of scale, a better product mix and cost controls helped its 2025 gross profit margin rise 0.6 percentage point to 15.9%, the company said.Geely in February merged its two units --Zeekr and Lynk&Co--into Zeekr Group in order to better compete in the market with an eye to overpass its international rivals within the next two years.Zeekr's total vehicle deliveries last year surged 87% to 222,123, helping narrow its net loss
