The decision was unveiled during Geely’s first-half results call, which also introduced a new leadership team including An Conghui as chairman, Gan Jiayue as chief executive, and Gui Shengyue as vice chairman.
𝐓𝐚𝐫𝐢𝐟𝐟 𝐀𝐯𝐨𝐢𝐝𝐚𝐧𝐜𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲
The move reflects Geely’s response to the European Union’s tariffs of up to 35.3% on Chinese-made EVs, imposed in 2024. By producing cars inside the EU, Geely avoids these duties while saving on the cost of building new factories. Founder Li Shufu had hinted earlier this year that Geely and Volvo should share capacity rather than expand amid global overcapacity concerns.
𝐁𝐫𝐨𝐚𝐝𝐞𝐫 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐏𝐥𝐚𝐧𝐬
Volvo’s plants are only part of Geely’s global strategy. A joint venture with Ford in Valencia, Spain, is also scheduled to begin production in 2028, with capacity for around 500,000 vehicles annually. In Southeast Asia, Geely plans to upgrade Proton’s plant in Malaysia into a regional hub with similar capacity.
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