The Biggest Chinese EV Maker You Never Heard Of
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Geely Auto is one of about a half dozen lesser known Chinese manufacturers that may not get the recognition in the West they deserve but have developed themselves into powerful multinational corporations with thousands of employees, manufacturing facilities on multiple continents and R&D.
Geely stock trades under Ticker: GELYF and GELYY
GELYF is the ordinary share, not an ADR or American Depository Receipt of Geely Auto group traded on the Hong Kong stock exchange. It is available OTC in the United States
GELYY is the American Depository Receipt which also trades OTC in the United States
One should note that neither one of these securities trades in tremendous volume on a day to day basis despite the fact this is a company with a market cap of around $32 billion
So Who Is Geely Automobile Holdings and why are they potentially such a big deal that I am making a video on them for my channel.
Geely is a global automobile maker that that owns several well known brands such as Volvo, Proton, Lotus, Lynk and co. and of course the Geely Auto brand. They are also a major shareholder in Daimler AG and have joint ventures with several other major auto producers They produce over 1.5 million cars each year.
The company was established in 1986 by business magnate Li Shufu who is an interesting character with a background that I think most folks will admire if you like stories about regular people who succeed by pulling themselves up by their bootstraps and taking risks.
Company Founder Li Shufu has also been a very vocal proponent of fueling domestic innovation through native research and discovery rather than through acquisition of technologies from foreign sources.
Despite those sentiments however since 2010 Geely’s international growth has been accomplished mostly through acquisitions and joint ventures.
February 22nd 2021 Geely confirmed plans to set up a new all electric vehicle company to compete directly in the intelligent battery electric vehicle space.
This confirmation comes on the heels of a series of stunning announcements from last month that largely flew under the radar in western press.
Last month, Geely announced a series of new strategic partnerships with struggling EV company Faraday Future, internet giant Baidu, Apple manufacturing partner Foxconn and technology conglomerate Tencent.
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Geely has already developed its own open source Geely EV platform that it plans to use across its brand portfolio called the Sustainable Experience Architecture Platform or SEA EV Platform.
According to a press release, Geely hopes the use of the open source SEA coupled with software overlays provided by Baidu and Tencent will give manufacturer who want to adopt the SEA platform and by extension their customers unrivalled connectivity, shared vehicle functions, e-motor capabilities, constant over-the-air-updates that will keep vehicles up to date, leading autonomous drive functions, and will offer a maximum range in excess of 700km between recharging with the capacity to increase range in the future.
Synergies generated by the architecture within Geely Holding are expected to reduce development costs at participating brands and to generate substantial savings on R&D costs.”
But the EV revolution is providing an opportunity to radically change world economic dynamics. By positioning GEELY the way he has and with the $2.8 billion investment in the development of the Sustainable Experience Architecture EV platform.
Geely brands that include Volvo, Polestar, Lotus, London Electric Vehicle Company (LEVC), Smart, Daimler, Lynk & Co, Geometry, Zhidou, Maple, Farzion and Proton.
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