Geely Commits To Dual Strategy Concerning EVs & ICE Vehicles

Geely Holding Group Commits To Dual Strategy, Increasing Focus On EVs Whilst Maintaining Their ICE Offerings

Geely Holding Group Chairman Li Shufu described the company’s strategy to focus on ICE vehicles alongside its investments in electrification. The group emphasised that it would not abandon ICE technology and insisted on sustained research and development investment to maintain leadership in the sector.

Describing the approach as a “two-legged strategy”, working on EVs while continuing to develop and manufacture traditional ICE and hybrid cars. This stance is noteworthy as the industry faces intense price wars, with companies like BYD and Tesla leading the charge.

While some manufacturers focus on aggressive pricing strategies, Geely’s emphasis on core technology and premium branding signals a long-term approach, leveraging its hybrid expertise and global partnerships.

Outlook

The group’s global expansion strategy includes the acquisition of renowned automotive brands such as Volvo and Lotus, as well as stakes in Mercedes-Benz and Aston Martin. It is important to note that Geely Holding Group’s goal is not financial speculation but mastering automotive expertise.

The Chinese group will take inspiration from Volvo for safety, Mercedes for luxury, Lotus for aerodynamics, and Aston Martin for high-end brand management. Geely is currently opposing the idea of cutthroat price competition and supporting technology, quality, service, brand, and ethical battles. They plan to add long-term value using their products.

Geely Holding Group’s commitment to both traditional gas engines and electric vehicles reflects a balanced approach to the evolving automotive landscape. The group aims to maintain its leadership in the industry by focusing on technological innovation and strategic acquisitions.