Geely Auto Profit Climbs on Export-Driven Revenue Growth

By Jiahui Huang

Geely Automobile, China's No. 2 electric-vehicle maker, reported a rise in third-quarter profit as strong exports drove revenue growth.

The solid results come as the Hangzhou-based automaker has experienced robust demand in overseas markets, where it has been expanding its presence to diversify revenue sources and offset slowing domestic sales.

Geely has also stepped up efforts to solidify its position in the new-energy-vehicle sector, which includes plug-in hybrids and fully electric vehicles, targeting various customer segments through its Galaxy, Zeekr and Lynk & Co brands.

For the three months ended September, net profit rose 28% to 4.84 billion yuan, equivalent to $726 million, Geely said Thursday. Revenue rose 10% to 98.96 billion yuan.

The Chinese carmaker sold 812,523 vehicles during the period, a 6.8% increase from the previous year, supported by robust growth in overseas deliveries. Exports more than doubled to 323,442 units.

A potential headwind for margins next year is China's plan to lower the value-added tax export rebate for NEVs to 9% from 13%, though local production in overseas markets could help the Chinese EV maker offset that.

Geely has stepped up its push into Europe, recently entering a manufacturing partnership with Ford. The Chinese automaker will build two electric sport-utility vehicles at Ford's factory in Spain, and the two companies will jointly develop a new model.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

October 29, 2026 00:39 ET (04:39 GMT)