GEELY AUTO(HK:00175) 21世纪经济报道·2025-10-28 10:16Core Viewpoint - Geely has officially entered the UK market with the launch of its electric vehicle, the Geely International EX5, which is priced competitively compared to other brands in the same segment [1][5]. Market Entry and Strategy - Geely has launched the Geely International EX5 in the UK, with three models priced at £31,990, £33,990, and £36,990, which are significantly lower than competitors like BYD and Tesla [1]. - The company aims to establish a strong presence in the UK, targeting annual sales of 100,000 units by 2030, which requires a compound annual growth rate significantly higher than the local market average [5][6]. - Geely has already set up 25 sales service outlets in the UK, with plans to double this number by the end of the year and reach 100 by 2026 [5]. Market Dynamics - The UK market is seen as a strategic entry point for Geely due to its lack of dominant domestic brands and a growing acceptance of new brands among consumers [6]. - The UK has become the largest market for electric vehicles in Europe, with a 34.6% year-on-year increase in sales for the first half of 2025 [6]. - The UK government has reintroduced subsidy policies to stimulate electric vehicle sales, contributing to a 29.1% increase in electric vehicle sales in September [6]. Competitive Landscape - Geely faces competition from other Chinese brands like BYD and MG, which are also expanding in the UK market [6]. - The traditional fuel vehicle market still holds over 50% of the market share, indicating that the transition to electric vehicles is ongoing [7]. Global Expansion and Performance - Geely's overseas market performance has been a shortcoming, prompting a strategic shift to enhance its global presence [8]. - In the first nine months of the year, Geely's total sales increased by 46% to 2.17 million units, with nearly 300,000 units exported [10]. - The company is transitioning from a single-point strategy to a more comprehensive product matrix, with a significant increase in the export of its electric vehicles [10]. Brand Recognition and Future Plans - Geely is leveraging established brands like Volvo to enhance its brand recognition in the competitive European market [10]. - The company is committed to localizing its supply chain to strengthen its operational capabilities in the UK and Europe [7].