Geely Introduces a New Concept in Quality and Luxurious Design
China-based automotive manufacturer the Geely Group is redefining the global image of the Chinese car manufacturing industry, achieving stunning recent successes and technological leaps while offering a range of world class vehicle built according to the highest international standards
The Geely Group has achieved a number of stunning successes during recent years, especially in advancing its technological capabilities; successes which have allowed the Group to quickly penetrate the European market within a short space of time, gaining large market shares in many European countries.
This comes as the Chinese Government recently took a number of steps aimed at promoting the Chinese automotive industry abroad, recognizing it as one of the pillars of the modern Chinese economy.
Geely has formed an integrated marketing and distribution network in the domestic market including around 1,000 service centers and 1,000 retail, customer service and spare parts outlets, in addition to around 200 service and retail centers abroad.
By the end of 2010, Geely had transformed itself into one of China’s most trusted and well-known car brands, selling 432,000 vehicles during that year. By 2011, the Group’s EC7 and EC8 models achieved 4-star and 5-star ratings on the European New Car Assessment Program (Euro-NCAP) and the Chinese New Car Assessment Program (C-NCAP), respectively. Geely has also been named ‘Safest Car in China’ several times.
The Group’s two research and development institutions — the Geely Center for Automotive Technology and the Geely Institute for Automotive Research — have also helped the Group increase its production capacity in recent years, allowing it to produce more cars, engines and electronic equipment, and allowing Geely to release six new models and six different types of engines each year.
The seeds for these successes were sown back in 2007 when the Group took it upon itself to redefine the image of the Chinese automotive industry abroad by producing a wide range of safe, environmentally-friendly, fuel-efficient world class vehicles and offering them to customers in the European market.
An essential ingredient in this plan was Geely’s 2010 strategic acquisition of Volvo Motors, which offered Geely the opportunity to capitalize on Volvo’s superior technological and production capabilities. This had an almost immediate impact, raising Geely’s production rates and quality standards, as well as allowing the Group to develop and improve production lines —global sales and market shares in many “frontier” markets such as Europe have increased noticeably since the acquisition.
In 2011, Geely achieved substantial export volumes of 40,000 vehicles, up 120% Y-o-Y. With this strong forward momentum in mind, Geely has mapped out an ambitious export plan for 2012, which will see it exporting its vehicles to more European countries in a bid to increase its share of this highly lucrative market.
Capping off a highly successful 2011, Geely raked in revenues in excess of US$ 23 billion, an achievement which allowed it to make it into the “Fortune Global 500” list by July of that year, rubbing shoulders with some of the largest industrial companies in the world such as Royal Dutch Shell and Exxon Mobil.