Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Geely Automobile Holdings Limited
  6. News
  7. Summary
    175   KYG3777B1032

GEELY AUTOMOBILE HOLDINGS LIMITED

(175)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-10-03 am EDT
10.76 HKD   -0.55%
09/30China's Geely takes 7.6% stake in Aston Martin
RE
09/28Renault, Geely's South Korea Venture Gets European Commission Approval
MT
09/22MarketScreener's World Press Review : September 22, 2022
MS
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Polestar EV sales surge in first half, on track for full-year target

07/13/2022 | 07:03am EDT
FILE PHOTO: Car show in Oslo

(Reuters) - Polestar on Wednesday said first-half sales of its electric vehicles more than doubled and it remained on track to achieve its full-year target.

Sales at the Swedish EV maker, founded by China's Geely and Volvo Cars and now a publicly traded company, rose almost 125% to about 21,000 cars in the first six months of the year, up from 9,510 in the same period last year. As a result, Polestar reaffirmed its full-year target to delivering 50,000 vehicles.

"When it comes to order intake, we are on a very safe track to make the numbers that we've put out for 2022," Polestar Chief Executive Thomas Ingenlath said in an interview. "Even now in July, we are already on safe ground with that."

"The big uncertainty in the plan is always unforeseen COVID-19 lockdowns," he added.

In May, Polestar slashed its 2022 delivery forecast by 15,000 units, citing the COVID-19 lockdowns in China. The lockdowns caused supply chain disruptions for semiconductors and components widely used in EVs.

Polestar sold about 29,000 vehicles last year and is targeting tenfold growth to 290,000 in 2025.

Polestar, which launched the low-volume Polestar 1 hybrid performance car in 2017, still plans to launch the Polestar 3 electric SUV in October, Ingenlath said. The Polestar 3 will be built at Volvo Cars' plant in South Carolina.

Polestar sells the fully electric Polestar 2 car and plans to launch a new vehicle annually for the next three years. The Polestar 4 SUV coupe is scheduled to follow in 2023 and the Polestar 5 four-door GT in 2024.

(Reporting by Ben Klayman in Detroit; Editing by Chris Reese)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 1.13% 159.86 Delayed Quote.-24.60%
GEELY AUTOMOBILE HOLDINGS LIMITED -0.55% 10.76 Delayed Quote.-49.20%
POLESTAR AUTOMOTIVE HOLDING UK PLC 1.98% 5.16 Delayed Quote.-55.90%
All news about GEELY AUTOMOBILE HOLDINGS LIMITED
09/30China's Geely takes 7.6% stake in Aston Martin
RE
09/28Renault, Geely's South Korea Venture Gets European Commission Approval
MT
09/22MarketScreener's World Press Review : September 22, ..
MS
09/07Israel's StoreDot moves closer to 2024 production of fast-charge batteries
RE
09/06Hong Kong Stocks Close at Six-Month Low; Fudan Microelectronics Rises 4%
MT
09/06Geely Automobile Holdings Limited Reports Unaudited Group Sales Results for the Month a..
CI
09/02Chinese Shares End Mixed, Muted; Two of Three Debutants Post Gains
MT
09/01Geely-Owned Volvo to Suspend Work at Chengdu Plant on COVID-19 Curbs
MT
09/01Aramco may take stake in Renault's future thermal engine business - source
RE
09/01Aramco Reportedly May Take Stake in Renault's Future Thermal Unit
CI
More news
Analyst Recommendations on GEELY AUTOMOBILE HOLDINGS LIMITED
More recommendations
Financials
Sales 2022 133 B 18 668 M 18 668 M
Net income 2022 5 451 M 766 M 766 M
Net cash 2022 25 828 M 3 631 M 3 631 M
P/E ratio 2022 18,6x
Yield 2022 1,68%
Capitalization 98 068 M 13 785 M 13 785 M
EV / Sales 2022 0,54x
EV / Sales 2023 0,40x
Nbr of Employees 47 000
Free-Float 57,4%
Chart GEELY AUTOMOBILE HOLDINGS LIMITED
Duration : Period :
Geely Automobile Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GEELY AUTOMOBILE HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 33
Last Close Price 9,75 CNY
Average target price 17,59 CNY
Spread / Average Target 80,4%
EPS Revisions
Managers and Directors
Sheng Yue Gui Executive Director
Wen Ze Xu President
Shu Fu Li Chairman
Yang Wang Independent Non-Executive Director
Qing Heng An Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
GEELY AUTOMOBILE HOLDINGS LIMITED-49.20%13 862
TOYOTA MOTOR CORPORATION-10.90%177 472
VOLKSWAGEN AG-28.76%74 359
MERCEDES-BENZ GROUP AG-21.60%54 919
GENERAL MOTORS COMPANY-45.27%46 789
FORD MOTOR COMPANY-46.08%45 027