At the announcement of the Proton-Geely deal, officials from Zhejiang Geely were present to provide the media with a little insight into the company’s background. Here’s a bit of trivia to start: the company was founded in 1986 as a refrigerator maker.
In terms of financials, Geely’s revenue has continuously grown over the years, from US$23 billion in 2011, to US$25.7 billion in 2014 and US$30.4 billion in 2016. The company was listed as a Fortune 500 company in 2016 (410th place), which also represents its fifth consecutive year it appeared on the acclaimed list by Fortune Magazine.
Furthermore, Geely’s share price on the Hong Kong Stock Exchange (0175.HK) has increased from HK$2.56 on May 23, 2012 to nearly five times that amount, HK$12.38 on April 23, 2017. As for May 19, 2017, Geely’s share price stands at HK$11.20, with a market capitalisation of HK$99.88 billion.
Geely’s growing sales volume is a strong factor for its good financials, where in 2016, the company managed to sell 765,851 vehicles, a 50% year-on-year increase. For 2017, the company’s sales target is set at one million units, while in the coming years, that number will balloon to 2.2 million vehicles yearly.
As most of you are aware, Volvo is also part of the Geely umbrella, after being fully acquired back in 2010. With strong support from Geely, Volvo has managed to develop many new models like the XC90, S90 and XC60. This has also helped boost Volvo’s sales volume from 335,000 in 2009, to 534,000 in 2016.
The technologies and platforms developed by Volvo and Geely will help both companies expand or improve their current product line-up, as Geely has demonstrated with its new MPV concept.
Geely has also acquired or introduced other brands to its portfolio with the likes of Lynk & Co as well as the London Taxi Company (formerly owned by Manganese Bronze Holdings). With several R&D centres as well as design studios in various countries, it appears Geely will have no shortage of resources at its disposal.
The Chinese company currently has 65,000 employees in its workforce, led by its founder Li Shu Fu, who has over 30 years of experience in the investment and management of the automobile manufacturing business in China. Here’s what the automaker has in terms of models for its domestic market.
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It’s all about proton and geli. So many mini articles. The conclusion is: no more national car. Malaysian company hold only 0.1% majority of P1. P2 obviously owned by Japanese group of companies. Naza and Inokom no where to be seen.
In 2016 Geely sold 765,851 cars and made a cool USD$30 billion (RM135 billion)
In 2016, Proton sold 72,000 cars. 10 times less than Geely.
Shouldn’t Proton have made RM13.5 billion? (RM135 million divide by 10)
Which numbiot said Geely made 30 bil??
They made 0.2 bil on revenue of 3 bil usd. Where do you all get info????????
So the big question is will the next generation proton under geely looks like a refrigerator since geely manudactured fridge first…john i need your help to answer this..hep me hep me…
China will be generous. I expecting Geely Proton cars to come with tesla coils to zap annoying ahbeng toyotas.
Finally Geely can do what is long overdue for Proton:
Sack the designer!
Sack the designer!
Sack the designer!
Both companies started at about the same time in the early to mid 80s. one start as an automotive company and another as refrigerator company has become an automotive company listed in the fortune 500 company. what a huge difference, land and sky.
The big question in a marriage is to see how long the marriage will last.
I hope Proton staff change their attitude and start moving on the fast lane cause Geely is on the fast lane. Geely started in 1997, 13 years later than Proton yet it could buy Volvo and London Black Cab Co for cash. After that, they could even inject USD12 billion (RM55 billion) to make Volvo further healthy! That is how fast they are running! In 2016, they made USD30 BILLION (RM135 BILLION)
I hope and pray Proton staff can start running. 20 years just slumber…..really don’t know.
Geely CEO, first day on the job, going to pengasan when he sees all the vendors and suppliers got free ride in life. For 30 years, supply Proton with super low quality parts but charge Proton a bomb. Sometimes just a screw cost 1 ringgit, charge Proton RM10
Be warned Proton, the Chinese from China are very serious when they put their money down. Since they are running, they expect you to run too.
They will not tolerate the current truancy problem Proton faces in the factory. Today come, tomorrow don’t come ie tuang. Proton has a big big problem with staff and their tuang attitude.
I really don’t know what Geely will do to all these lepak and rilak staff.
Not our problem, its Geelys problem. So let them settle.
Gomen lepak, dedak and rilak staff. So problem
I hope la no more said as ceo proton. Mr. Wang from china can teaching this prople how to make big profit. Drive uber and grab if you hate mr wang. P2 also.
2 words: market volume. Compare china & MY.
Fact: Proven as a bad and wrong decision to start Proton in the first place because Malaysia market is just too small.
Wow, 65,000 people can have revenue of USD 30.4 billion in 2016. I’m impress. Please don’t ask about P1 OK.
Looks more like Geely is “Trying” to sell their shares/company to M’sian with the Chart & photos.
With an impressive set of “Figures”, no wonder they are in FORTUNE 500 company.
Now i know why Faiz CEng said – we get to own Geely when they purchase 49% of P1. Hehehe. Cheers…
Even celup swedish brand has to kowtow to china might.
I know right Voltron…
Geely has 65k human workforce in its disposal while owning brands like Volvo and LTC. What abt Proton? 60k workforce for a bankrupting company that produces not even up to 100k vehicles per year. This Geely acquiring will very soon end up like Suzuki-Honda, failing miserably at the same time obtaining billions from the government. Rip Malaysians.
Stop comparing with Volvo. People dream of owning of Volvo while loathed at Proton.
When proton started making cars Geely was still making refrigerators. Yet a refrigerator maker could have advanced so much in automotive while a car maker hasn’t. Ironic.
That’s what happens when a carmaker syok sendiri for 32 years. Even a refrigerator maker can buy it
Refrigerator in 1986…a year earlier, proton saga was born.
Lol, that KC-2 concept is already in production for some time as Emgrand GT.
The slides on XC90 and S90 is a laugh, “impressive interior”, “digital gadgets”, what an amateurish description.
I would not laugh if i were you. There might have language limitation for China People. But they are not stupid. I am dealing with china suppliers at daily basis. Trust me, they put most of us to shame.
1. They know how to run a business.
2. They are result driven.
3. They have vast resource of good talents.
Just to name a few. there are more.
A change will be good especially the designer in proton. All their cars look crappy and don’t know what is their stupid brain is thinking when come to designing. Look at the budget car like Kia and Hyundai. Proton is no where near. Time to pack and go home stupid designer and mangement.
major reshuffle needed at p1. but i dont think will happen since geely bought 49.9% only
Habislah staff staff proton… Better buck up or be out… Geely will not tolerate the “tidak apa” attitude… Bersedia untuk berubahlah… Good luck… Bagi staff staff proton yg benar benar berdedikasi selama ini (which I believe to be quite a number) – teruskan usaha kamu dan saya yakin mgt baru akan sedar dan hargai usaha anda… Hanya yg tak kerja aje tu yg akan berasa takut… Siapa makan cili dia terasa pedasnya… Tq
This ramadan will be the toughest for Proton staff. If they put up a lack of energy show, their job might be at stake. This new boss wont be bothered about the usual excuses as now they are expected to sprint in their work.