China’s Geely will launch four new electric vehicles at home before the end of the year, in a move to expand sales and increase profits, while hoping to close the gap with industry leader BYD, executives told investors at an earnings conference on Thursday.
Geely will start taking orders for its Galaxy M9 plug-in hybrid EV (PHEV) on Aug. 23, followed by the launch next month of the Lynk & Co 10 EM-P, a PHEV variant of its Z10 sedan, said Jerry Gan Jiayue, chief executive of Hong Kong-listed Geely Auto. Additionally, the Zeekr 9X, the first hybrid model from Geely’s premium lineup Zeekr, is scheduled to go on sale in September or October, while the Galaxy Xingyao 6 sports sedan is slated for launch in the final quarter of this year.
The company’s market share in China surpassed 10% for the first time in the first half of this year, only 4% behind the country’s top seller of automobiles, BYD, according to Geely Auto’s executive president Gui Shengyue. Geely will be looking to fill in “some blank spots” in new energy vehicle markets in an attempt to catch up with and even overtake the leader, Gui said at the same meeting (our translation).
China’s top maker of internal combustion engine vehicles and second largest EV maker, Geely on Thursday reported solid growth in the first half of 2025 with revenue reaching RMB 150.3 billion ($21 billion), up 27% from a year earlier. This growth was largely supported by the success of its mainstream Galaxy lineup, as sales of the business jumped to 548,000 cars from January to June compared with only 81,400 units a year earlier.
However, the automaker reported a 14% drop in earnings over the period, posting a net profit of RMB 9.3 billion, or RMB 90.3 per diluted share, compared with RMB 10.8 billion, or RMB 105.8 per diluted share, a year ago. Geely Auto’s average selling price was down by 13% annually to RMB 96,000. The firm’s Galaxy E5 crossover competes directly with BYD’s Yuan in the entry-level segment, while its small EV Geely Xingyuan rivals BYD’s Seagull hatchback, both at a starting price of less than RMB 70,000.
Geely’s higher-end Zeekr marque also saw flat sales of approximately 91,000 units over the same period, representing only 3% growth from a year ago. Geely Auto on July 15 announced a merger agreement with Zeekr and the acquisition of all the remaining shares it does not own, with the deal set to close in the fourth quarter. Zeekr already took control of Lynk & Co, another Geely-backed brand, late last year, and the move is expected to create synergies and reduce costs once Zeekr and Lynk & Co are fully consolidated.
READ MORE: Despite taking Zeekr private, Geely emphasizes willingness to cooperate with global capital markets
Analysts from Citic Securities expect the launch of the upcoming Zeekr 9X to help the company move upscale with margin improvement in the second half of this year, while the monthly sales of its Galaxy marque could reach 150,000 units. Gui said that more than 30,000 customers have turned their reservations into orders for the newly-launched Galaxy A7 hybrid sedan, which was launched a week ago with a starting price of RMB 81,800.
READ MORE: BYD faces strong EV challenge from Geely and Changan in May amid possible regulatory scrutiny
