By Gabby Chen

China's leading automobile brand Geely Holding announced that its total sales exceed 2.3 million units in 2022, up 4.3% year-on-year. Among them, those of new energy vehicles reached 640,000 units, surging by 100.3% year-on-year, achieving a new energy penetration rate of 27.9%, reported JW Insights on January 30.

Geely Auto sold 1,432,988 vehicles last year, an increase of 8% year-on-year, with 328,727 NEVs delivered. Its new energy penetration rate for the year was about 23%, tripling from 2021, much higher than the industry average increase.

Geely Auto set its sales target at 1.65 million units in 2023. The new energy penetration rate is expected to triple. It will accelerate its move in intelligence and globalization, according to the company's announcement.

Meanwhile, Geely's brands - Lynk&Co, Volvo Cars, Zeekr, Polestar and Lotus - have also made breakthroughs in key areas.

Lynk&Co sold 180,127 vehicles last year, making it the fastest Chinese high-end car brand to exceed 800,000. Volvo Cars delivered 615,121 units worldwide. Zeekr's annual sales totaled 71,941, with an average order value over RMB336,000 ($49,733.57).

In addition, Polestar's global sales reached 51,500 units, up 80% year-on-year. It went public on the Nasdaq Stock Market in 2022. And Lotus unveiled its first all-electric Hyper-SUV Eletre, said the JW Insights report.