Geely Automobile: Not only simply fight "price war", but also fight "value war"!

  On March 20th, Geely Automobile revealed at the annual performance conference that in 2024, three major brands, Geely, Extreme Krypton and Link, will each launch three new energy products, enter more market segments, and accelerate their market share in luxury smart electric vehicles. Gan Jiayue, CEO of Geely Automobile Group and executive director of Geely Automobile Holdings Co., Ltd. said that at present, the automobile industry has entered a period of integration, and Geely will not simply fight a "price war" but a "value war".

  Geely Automobile said that in 2024, Geely brand will release three models of Galaxy mainstream pure electric SUV, compact pure electric SUV and Galaxy mainstream pure electric hybrid SUV; Extreme krypton will release three models: extreme krypton Mix, medium and large luxury pure electric SUV and top luxury pure electric MPV; Lectra brand will release Lectra 07EM-P, medium and large pure electric flagship car and compact pure electric SUV.

  Gui Shengyue, chief executive officer and executive director of Geely Automobile Holdings Co., Ltd. said that the company is confident to gradually catch up with the new power automobile enterprises in different market segments.

  In 2024, Geely Automobile put forward a higher goal in improving the penetration rate of new energy. The financial report shows that Geely Automobile aims to sell 1.9 million vehicles in 2024, of which the sales target of new energy vehicles is expected to increase by 66% compared with 2023.

  According to this data, in 2024, the sales volume of Geely new energy vehicles needs to reach 810,000, and the penetration rate of brand new energy vehicles will increase to 42.6%. In 2023, the new energy penetration rate of Geely Automobile was 28.9%, and in 2022 it was 22.9%. From the sales announced by Geely Automobile in January and February 2024, the current new energy penetration rate of Geely Automobile is about 30%.