Geely eyes Canadian auto market after deal allowing Chinese EVs
The company set a goal to become one of the world’s top five carmakers by the end of the decade
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[HONG KONG] China’s Geely Automobile Holdings is laying the groundwork to enter Canada after that country reached a deal earlier this year opening the door to electric vehicles from the world’s biggest auto market.
The carmaker expects certification soon from Canadian officials for Geely Auto-branded vehicles, Andy An, chief executive officer of parent company Zhejiang Geely Holding Group, said in an interview.
“We’re not only considering the Canadian market, but also Brazil, South America, Eastern Europe and South-east Asia,” An said. “Geely’s globalisation is mostly through exports right now, but we will look to localise production.”
The comments come as Geely and other Chinese auto manufacturers seek to gain a greater foothold in North America and after Prime Minister Mark Carney’s government paved the way for cars and investment from China in a bid to stimulate Canada’s own manufacturing industry.
In January, Canada agreed to exempt as many as 49,000 Chinese-built EVs annually from a 100 per cent tariff imposed in 2024, and Ottawa has been courting investment from China-based carmakers via a joint venture with one or more Canadian companies.
Those moves are a rebuff to US President Donald Trump, who has imposed tariffs on imports from both Canada and China.
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China’s second-largest carmaker already has a modest North American presence, including in the US, through subsidiary brands Volvo and Polestar.
In recent months, a number of Chinese automakers have begun exploring options in Canada, including BYD, which said it’s actively considering building a plant in the country.
China’s largest vehicle exporter, Chery Automobile, has started staff recruitment efforts in Canada to establish a presence there, the Globe and Mail reported in January.
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Geely has built out its global footprint in South Korea and Brazil via tie-ups with Renault, which provides local production for Geely-branded vehicles. The company set a goal at the start of 2026 to become one of the world’s top five carmakers by the end of the decade.
The Hangzhou-based company reported annual results earlier Wednesday, posting a 36 per cent increase in profits excluding non-recurring gains to 14.41 billion yuan (S$2.7 billion) and a 25 per cent jump in revenue. BLOOMBERG
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