Geely Auto released its financial report, with an annual revenue of 92.1 billion RMB, and the new pure electric brand JiKe was launched!

On March 23, Geely Automobile released its 2020 annual report, with the following key data:

· Annual income: RMB 92.1 billion
· Net profit: RMB 5.57 billion
· Cash balance: RMB 19 billion
· Cumulative sales: over 1.32 million units (including Lynk & Co’s annual sales of 175,000 vehicles)
· R&D investment: RMB 4.8 billion

In addition to the financial report, Geely also officially announced the establishment of Ji-Ke (Extreme Technology) Company today, focusing on the forward-looking technology research and development in the field of intelligent pure electric vehicles. Geely Automobile holds 51% of the shares, while Geely Holding Group holds 49%. Li Shufu is the chairman of Ji-Ke Company, and An Conghui is the CEO.

According to Geely Automobile, Ji-Ke will integrate various assets and technologies, including but not limited to electric vehicle technology, SEA architecture usage rights, brand authorization, three-electric technology, supply chain system construction, and user ecosystem construction, to give play to the advantages of intensive operation of the group. Ji-Ke’s first model based on the SEA architecture will start taking reservations at the Shanghai Auto Show and begin deliveries in the fourth quarter.

Reuters previously reported that Geely Automobile plans to launch a new high-end electric vehicle brand, Zeekr, to compete with Tesla. The official launch of Ji-Ke Company confirms to some extent the previous Reuters report.

🔗Source: Geely Automobile

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.