- Geely sharply boosted profitability and revenue in H1 2026, driven by stronger mix toward higher-value models and faster EV and overseas sales amid Chinese market pressure.
- Geely reported RMB 173.6B revenue and RMB 9.68B core net profit, 1.423M vehicles sold H1, 799K NEVs, Zeekr 9X ATP above RMB 530K (about $78,600).
- Targeting urban EV segments overseas, Geely leans on EX2 localization in Spain, Brazil and Malaysia, risking execution delays, capacity scaling challenges and tariff/regulatory hurdles.
On August 17, Geely Automobile Holdings released its 2026 interim results.
The company posted revenue of RMB 173.6B ($25.8B) in the first half, up 15% year on year, marking a record high for the same period. Core net profit attributable to shareholders reached RMB 9.68B ($1.44B), rising 46% from a year earlier.
Geely’s core net profit margin stood at 5.6%, up 27% year on year. Gross margin climbed to 17.9%. Average revenue per vehicle reached RMB 112K ($16.6K), up 16%, reflecting a continued shift toward higher-value products.
Amid a challenging Chinese auto market, Geely’s EV transition and overseas expansion have become key growth drivers.
In the first half of 2026, Geely sold 1.423M vehicles, with new energy vehicle sales reaching 799K units, up 10% year over year.
At the brand level, Geely’s new energy portfolio delivered steady growth. Premium EV brand Zeekr sold 178,370 vehicles from January to June, up 97% year over year. Its flagship Zeekr 9X recorded 45,740 deliveries, with an average transaction price above RMB 530K ($78.6K), pushing the brand further into the premium segment.
In the mainstream market, Geely Galaxy sold 519,793 vehicles in the first half. Geely Xingyuan, known overseas as Geely EX2, delivered 194K units, maintaining a strong position in China’s mainstream EV market.
Lynk & Co recorded 144,215 sales during the same period, including 93,597 new energy vehicles, up 9% year over year.
Overseas operations have emerged as Geely’s second growth engine. In the first half of 2026, Geely exported 474,228 vehicles, surging 158% year over year. The figure already surpassed its full-year export volume in 2025. New energy vehicle exports reached 277,189 units, up 585%.
In June alone, overseas exports hit a record 102,874 vehicles, marking six consecutive months of year-on-year and month-on-month growth.
Geely EX2, the global version of Geely Xingyuan, has become a key model in the company’s international expansion. In Malaysia, the model is sold through Proton’s network under the e.MAS 5 name. It delivered 10,665 units in the first half, capturing 33.6% of Malaysia’s pure EV market and ranking first in local EV sales.
Rising overseas demand is also pushing Geely to accelerate its shift from export-led growth toward localized production.
In July 2026, Geely reached a cooperation agreement with Ford to enter the No. 3 body workshop at the Valencia plant in Spain, where the EX2 will be produced. The move allows Geely to leverage European local capacity, reduce tariff pressure, and expand in the urban EV segment.
In June, Renault-Geely Brazil announced plans to start localized EX2 production at the Ayrton Senna plant. Production is expected to begin in the fourth quarter of 2026, strengthening Geely’s new energy lineup in Latin America.
Geely also recently signed an agreement with a Pakistani importer to introduce the EX2 and EX5 in the third quarter through vehicle imports, further expanding into South Asia’s EV market.
Including July export data, Geely’s cumulative overseas exports reached 580,891 units from January to July 2026. About 340K units remain for the group to hit its full‑year export target of 920K vehicles. The group also stated it will aim for the 1‑million‑unit mark.
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