Geely Automobile Holdings and BYD Co reported notable increases in their 2023 vehicle sales. The two China-based companies are now setting ambitious targets for 2024, according to Reuters.
Geely’s global sales rose 18% to 1.69 million units, targeting 1.9 million units in 2024, with a significant emphasis on a 66% increase in new energy vehicle sales.
Geely’s strategic ties to Sweden, through Volvo Cars and AB Volvo ownership, position it strongly in Scandinavia. Geely has been making significant inroads in the Scandinavian market, leveraging the region’s growing demand for electric vehicles.
BYD Co, the world’s largest seller of battery electric vehicles (BEVs) and plug-in hybrids, reported a 61.9% surge in 2023 vehicle sales, totaling 3.02 million units. BYD’s performance includes around 1.6 million BEVs and approximately 1.4 million plug-in hybrid EVs.
Both Geely and BYD has highlighted the growing Chinese EV market as well as their expansion into the Scandinavian market.
Geely’s expansion into Scandinavia aligns with the increasing demand for EVs in the region, while BYD’s substantial sales figures underscore its global leadership in electric mobility.
Source: Reuters
