Geely Auto profit slips, cushioned by overseas sales
Geely Auto reported a 1.8% drop in H1 net profit to 9.09 billion yuan, despite a 15% revenue rise and doubled overseas sales. Weaker domestic demand offset strong export growth, with new-energy vehicles comprising over half of deliveries. Zeekr drove significant growth. Geely is expanding in Europe via a manufacturing partnership with Ford in Spain, aiming to localize production and mitigate EU tariffs.
China’s second-largest electric-vehicle maker recorded slightly lower net profit in the first half despite a surge in overseas sales, dragged by weaker demand in its home market.