Geely Automobile Holdings Ltd. (Geely Auto; 吉利汽车) has lifted its 2026 export target from 640,000 to 920,000 vehicles after reporting record first-half overseas sales, setting its sights on annual overseas volume of 1 million units as it broadens hybrid offerings and accelerates local production partnerships.
At its Aug. 17 interim-results briefing in Hangzhou, Geely Auto said first-half vehicle sales reached 1.423 million units, up 1% year on year. Revenue rose 15% to CNY 173.6 billion, while core profit attributable to shareholders increased 46% to CNY 9.684 billion.
Exports were the main source of momentum. Overseas sales rose 158% year on year to 474,228 units, accounting for one-third of total volume. New-energy vehicle exports increased 585% to 277,189 units, or 58% of exports.
The company has identified five priority overseas market groups as it pursues the higher export goal: ASEAN, targeted as a 300,000-unit market; pan-Europe excluding Eastern Europe, Eastern Europe, and Latin America and Africa, each targeted at 200,000 units; and the Middle East and Asia-Pacific, targeted at 100,000 units. Geely expects to expand its overseas sales and service network to more than 2,380 outlets by year-end.
The strategy signals a shift from vehicle exports alone toward more localized operations. In its interim filing, Geely said it would advance local production arrangements through its Renault partnership in Brazil and accelerate its project with Ford in Spain during the second half. The company has not disclosed production volumes, launch dates or specific Geely models for those arrangements.
Geely is also strengthening its multi-energy approach rather than abandoning internal-combustion technology. Its presentation said Geely China would promote HEV technology across its line-up, aiming to make its gasoline and hybrid vehicles the leading Chinese brand in the domestic market. The company launched its i-HEV hybrid system in April, claiming a 48.41% thermal-efficiency engine, 230kW electric drive and a 60C high-rate battery. Those performance comparisons remain company claims.
The overseas push follows Geely’s brand consolidation and its focus on higher-value models from Geely, Lynk & Co (领克) and Zeekr (极氪). The company said higher-value products are improving its overseas product mix and profitability, alongside faster growth in electrified models.
Geely also announced a leadership transition. Founder Li Shufu (李书福) stepped down as chairman and executive director, effective Aug. 18, and was appointed lifetime honorary chairman. An Conghui (安聪慧), an executive director and long-serving Geely executive, became chairman.
For Geely, the higher export target turns a strong first half into a more demanding operational test: converting rapid shipment growth into durable local sales, service and manufacturing capabilities across a wider set of global markets.