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Dismissed! Geely Geometry sales Co., Ltd. plans to cancel

2024-03-02 Update From: AutoBeta autobeta NAV: AutoBeta > News >


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According to the national enterprise credit information publicity system, Zhejiang Geometry Automobile sales Co., Ltd. added a cancellation filing announcement. The contents of the announcement show that on September 20 this year, Zhejiang Geometry Automobile sales Co., Ltd. planned to apply for cancellation of registration to the registration authority of Hangzhou High-tech Zone (Binjiang) Market Supervision and Administration Bureau because of a "resolution to dissolve." creditors are requested to declare their claims to the liquidation group within 45 days from the date of the announcement, and the person in charge of the liquidation group is Lu Yihong.

According to public data, Zhejiang Geometry Automobile sales Co., Ltd. was established in March 2021, the legal representative is Lin Jie, the registered capital is 15 million yuan, is an enterprise mainly engaged in the automobile manufacturing industry. The company is wholly owned by Zhejiang Geely holding Group Automobile sales Co., Ltd.


In April this year, Geometry announced that it officially changed its name to Geely Geometry based on future brand development and strategic layout planning. the names of its models have also been changed to "Geely Geometry C", "Geely Geometry E", "Geely Geometry M6" and "Geely Geometry G6".


Geometric car can be seen as another attempt of Geely's transformation to new energy. As early as 2015, Geely put forward the "Blue Geely Plan" and took the lead in initiating the transformation to new energy. In 2018, Li Shufu proposed that "more than 90% of Geely cars will be new energy vehicles by 2020", but so far this goal has not been achieved. Data show that Geely sold a total of 1.433 million vehicles in 2022, of which 329000 were pure electric and plug-in hybrids, accounting for 23.0% of sales.

It is understood that "Geometry Automobile" belongs to Geely Automobile Group's high-end pure electricity brand, in parallel with Geely brand and Lecker brand. In April 2019, Geometry Motors was launched in Singapore as a high-end pure electric brand, and its first high-performance pure electric car, Geometry A, was also announced at the same time, with a subsidised price range of 15-190000 yuan. However, due to the brand's own lack of voice in the car market, the market performance of new cars is very mediocre.


Until 2021, Geely New Energy vehicles began to rise, and Geometry car sales also began to grow. In August 2021, Geometry launched the geometrical EX3 with a starting price of 50,000 yuan, but it was forced to stop production and sale in 2022 due to cost. In June, Geometry launched Geometry E with a price range of 868-103800 yuan. In November, Geometry G6 / Geometry M6 went on the market with a price range of 14.98-186800 yuan and 14.98-186800 yuan, respectively.


It should be noted that under the background of the strong rise of new energy car companies such as BYD, Geely, which is missing the new energy product matrix, is gradually losing the first-mover advantage of its own brand, resulting in pressure on its overall sales.

Up to now, Geely's new energy brands include Geometry, Polar Krypton, Polar Star, etc., among them, Geometry Brand focuses on the middle and low end market of less than 150000 yuan, and Polar Krypton and Polar Star mainly focus on the high-end luxury market of more than 300000 yuan. Geometry and polar krypton brands are the main supporting points of Geely in the field of new energy. According to the data, cumulative sales of geometric cars in 2022 were 149400, up 17.00 per cent from 55300 in 2021, while the polar krypton brand sold 72000 vehicles for the whole year, up 1098 per cent from a year earlier. Of course, according to the data, although the two major brands have achieved year-on-year growth, Geely's sales performance on the new energy track is very mediocre, and Geely, which has already done a lot of homework, obviously needs to spend more time and effort in order to catch up with new energy companies such as BYD.


In February this year, at the new energy brand strategy conference, Geely officially launched its new Galaxy series brands. in the future, the Galaxy series products will focus on a price range of more than 150000 yuan and less than 300000 yuan, of which 250000 yuan is its more important main price. At the press conference at that time, Geely Galaxy launched seven products, among which, Galaxy Intelligent Electric Mixer L series launched L5, L6, L7, L9 a total of 4 products, he Intelligent Pure Electric E series launched E6, E7, E8 a total of 3 products.


The Galaxy L7, the first mass-produced model of the Galaxy series, was launched on May 31. The car is based on e-CMA intelligent superelectric architecture, positioning compact SUV, power equipped with four-cylinder 1.5T plug-in hybrid system; Galaxy L6 is the second model in Geely Galaxy's new energy product series and the first car in the series. The new car went on sale on Sept. 16, with a total of five models with a price range of 11.58-149800 yuan. The new car positioning compact car, based on e-CMA architecture production, equipped with a new generation of Raytheon electric hybrid 8848 plug hybrid system.

For this year's annual sales target, Geely has set a sales target of 1.65 million vehicles in 2023, 220000 more than the 1.43 million in 2022 and a year-on-year increase of 15.4 per cent. The latest figures show that Geely sold 984800 vehicles from January to August, up 15 per cent from a year earlier.

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