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Thursday, July 19, 2012

GEELY AMONG FORTUNE 500 BIGGEST COMPANIES


July 9th, 2012 saw the release of the 2012 Fortune Global 500 list – Fortune Magazine’s authoritative ranking of the world’s 500 biggest companies. The Zhejiang Geely Holding Group, with a revenue of USD 23.3557 billion (R190 billion) earned in 2011, is included in the list and is ranked 475th. The first three names of this year’s Fortune 500 camp are respectively Royal Dutch Shell, Exxon Mobil, and Wal-Mart Stores.

This is a first appearance on the highly esteemed list for Geely, known locally for its high value-for-money offerings, such as the LC and recently introduced LC Cross. After Geely’s successful acquisition of Volvo Cars in 2010, new batches of Geely products have been launched to the international market in succession, such as EC7, EC8, GX7. Most of these models are also destined for South African shores, before the end of 2013.

Making high quality cars and maintaining high safety standards has now become the signature of Geely. For the first half of 2012, Geely showed robust growth momentum in the international market, showing 210% of growth, compared to the same period last year.

Additionally, Volvo Cars, whose parent company is the Zhejiang Geely Holding Group, sold 449 255 vehicles globally last year, which equates to an increase of 20.3% compared to the sales volume of 373 525 cars in 2010. Concerning the business revenue, USD 18.59 billion was earned in 2011, which is 11.1% higher than the year before.


STORY BY GEELY

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