Geely shares jump after automaker beats revenue expectations for 2022
Publishing timestamp: 2023-03-22 02:32:50
Summary
Geely reported strong financial and operational performance for 2022, with revenue surging 45.6% and profit jumping 8.5%. The company also made significant progress in increasing sales of its new energy and electrified models, with sales surging over 300% last year. Geely has set a sales target of 1.65 million units for 2023 and aims to double its share of new energy and electrified vehicle sales. The company plans to lean on collaborations in its supply chain to lower costs and selling prices, and is also working with partners such as Renault and Aramco to produce engines and transmissions and leverage new sustainable fuels. The status of Geely's electric car brand Zeekr's IPO is still in progress.
Sentiment: POSITIVE
Tickers: 175-HK,
Keywords: earnings, autos, vehicle sales, geely automobile holdings ltd, transportation, business news,
Source: https://www.cnbc.com/2023/03/22/geely-earnings-2022-profit-surges-company-touts-ev-sales.html