Recently, Geely released the 2021 sales data, the total annual sales of cars was 1.328 million units, completing 87% of last year's full-year target. In the face of a growth rate of only 1%, Geely Automobile still set its sales target for 2022 at 1.65 million, an increase of nearly 20% compared with 2021. It is an indisputable fact that it has won the first place in the sales of passenger cars of Chinese brands for 5 consecutive years, but Geely's growth is obviously weak.
When the production capacity is changed, traditional car companies have to face the examination questions. Geely put forward the blue Geely action new energy strategy, in this new energy storm, there is no story to tell the blue shimmer of Geely appears to be bright and dark.
The carrier is difficult to turn around
Geely began to lay out in new energy in 2015, releasing the Blue Geely Action, saying that Geely Automobile's sales of new energy vehicles in 2020 accounted for more than 90% of Geely's overall sales, of which plug-in hybrid and oil-electric hybrid vehicle sales accounted for 65%, and pure electric vehicle sales accounted for 35%.
Today, Geely Automobile's new energy sales account for less than 10% of total sales.
Obviously, in the layout of new energy, Geely's sales volume is far less than expected. Geely's new energy and electrification models such as Geometry A, Geometry C, and Emgrand EV are not hot. In 2020, Geely promoted the process of pure electric power and founded Extreme Krypton. There is only one model in it, and in 2021, the sales volume of the Kr 001 will reach 6,007.
In contrast, the answer sheet of the same independent brand BYD is particularly eye-catching, the annual sales of new energy vehicles reached 590,000 units, an increase of 231.6% year-on-year, and new energy sales accounted for more than 80% of total sales. At the time of industrial change, if the company can not be the pulse of the times will soon be left behind.
At present, Geely's Geely Automobile, Geometry Automobile, Lynk & Co, Proton Automobile, Extreme Krypton, Lotus Automobile, Volvo Cars, Polestar, Long-range Commercial Vehicles, London Electric Vehicles, etc., fuel vehicle growth is weak, new energy has no explosive cars, and the huge automobile empire is difficult to turn around.
New energy shimmer
After five years of exploration, in the sixth year, Geely began to "burn money" multi-point layout, moving towards electrification, automation and intelligence.
At the beginning of 2021, Geely moved frequently. On January 11, Geely announced that it will jointly establish a smart electric vehicle company with Baidu and jointly build an industrial Internet platform for the automotive industry with Chuanhua, and plan to invest 50 billion yuan in the next five years to develop intelligent vehicle technology.
On January 13, we joined hands with Foxconn to form a joint venture company to provide OEM production and customization consulting services for third-party car companies and global automotive and travel enterprises, including but not limited to complete vehicles or parts, intelligent control systems, automotive ecosystems and the whole process of the whole industry chain of electric vehicles.
On January 19, we joined hands with Tencent to build an open platform for automobile "carbon neutrality" and signed a strategic cooperation agreement with Tencent in Hangzhou to carry out all-round strategic cooperation in the fields of intelligent cockpit, automatic driving, digital marketing, digital base, digital new business and low-carbon development.
On January 26, Geely and Faraday Future, an American shared intelligent travel ecosystem company founded by Jia Yueting, carried out strategic cooperation in product technology and capacity foundry.
At the end of the year, Geely launched in-depth cooperation with Fu Neng Technology to establish a joint venture company to build a power battery production plant. According to the agreement, the two sides will jointly promote the construction of power battery production capacity.
Geely has a certain strength to "burn money", according to the annual report of the first half of 2021, the cash flow is 4.117 billion, and the asset-liability ratio is 39.73%. The multi-party layout is glimmering, and the effectiveness of the aircraft carrier turning around has yet to be tested.