新能源渗透率57%背后 吉利正在打一场什么仗？

This article summarizes the overall performance of China's automotive market in the first half of 2026, and outlines Geely Holding’s outperforming growth, key strategies and core takeaways:

1. Industry overview: Domestic vehicle production and sales declined year-on-year in H1, pressuring the domestic market. However, auto exports rose 65.3% YoY, with new energy vehicle (NEV) exports surging 120% YoY, making exports the core growth driver for the industry.

2. Geely’s performance: Geely sold nearly 1.935 million vehicles in H1, of which over 1.1 million were NEVs, pushing its NEV penetration rate to 56.9% — higher than the industry average. Its NEV exports jumped 585% YoY, with H1 export volume exceeding the full-year total of 2025.

3. Geely’s core strategies: The company continues to invest in its "Seven Vertical" full-domain NEV technology system, launched the highly integrated Thunderbolt electric drive, and developed new models built on an 800V high-voltage platform. It has advanced a "3+2" overseas layout using an asset-light localization model to diversify risk, and pushed forward the "One Geely" brand integration initiative to clarify brand positioning and reduce internal competition.

4. Remaining challenges: Geely still faces domestic growth bottlenecks and multiple uncertainties in its global expansion, and the outcome of its ongoing transition remains to be seen.

Using Geely as a case study, this article outlines actionable insights for traditional automakers pursuing NEV transition and global expansion:

1. Industry consumption trends: The domestic market is facing overall headwinds, with a structural shift of a shrinking internal combustion engine (ICE) vehicle base and steady NEV growth. Exports, particularly NEV exports, are a clear high-growth track, and the industry’s growth center is gradually shifting overseas.

2. Product R&D direction: Automakers need sustained investment in core technology to build differentiated product advantages. Geely focuses on core areas including intelligent driving and tri-electric systems, and launched a 16-in-1 integrated electric drive that set a Guinness World Record for energy efficiency among pure electric sedans, building product competitiveness through core technology.

3. Brand and channel building: Multi-brand operations require clear positioning, with top-level integration to avoid internal competition and unlock synergies across the brand portfolio. For global expansion, Geely adopts a "3+2" regional strategy, using asset-light localized partnerships and a multi-market footprint to reduce reliance on any single market, while concentrating resources to support international business growth.

4. Key risks to address: Domestic growth bottlenecks and policy/geopolitical uncertainties in overseas expansion require proactive risk planning.

This article outlines the current automotive industry landscape, and provides insight on opportunities and risks for sellers across the automotive supply chain:

1. Overall industry opportunity: While domestic market growth faces headwinds, the export track shows clear strong growth: national auto exports rose 65.3% YoY and NEV exports rose 120% YoY in H1, while Geely’s NEV exports surged 585% YoY in the period. Global expansion is currently the most important growth market for industry players.

2. Regional growth opportunities: Demand is growing rapidly in markets including ASEAN, Eastern Europe, Latin America and Europe. Geely’s registrations in these regions grew 736.4%, 115.6%, 329% and nearly 400% YoY respectively in the first four months of 2026, meaning more supporting and sales opportunities exist in these regions.

3. Actionable best practices: Sellers can learn from Geely’s asset-light partnership model for overseas expansion, building business on local partners’ existing channels, production capacity and compliance infrastructure, and using a multi-market footprint to reduce reliance on any single market and improve risk resilience.

4. Risk warning: Cross-border business players need to prepare for uncertainties including tariff changes, exchange rate volatility and geopolitical risks. With clear domestic growth bottlenecks, players should adjust their business focus and proactively position in high-growth overseas tracks.

Drawing on Geely’s transition experience, this article outlines directional guidance for complete vehicle and auto component manufacturers:

1. Product design and manufacturing requirements: The NEV market is increasingly demanding higher technology integration, better energy efficiency and faster charging. Geely’s 16-in-1 highly integrated intelligent electric drive, 800V high-voltage platform and pure electric models supporting 6C ultra-fast charging align with market demand for high-performance NEV products.

2. New business opportunities: The explosive growth of NEV exports is driving rising overseas demand across the upstream and downstream supply chain. Meanwhile, leading automakers are increasingly rolling out localized overseas production: Geely has already established localized production projects in Southeast Asia and South America, creating new overseas matching opportunities for component suppliers.

3. Insights for transition: Factories affiliated with traditional automakers need to align with their parent companies’ transition timelines, expand capacity for NEV core technologies, and keep up with technological iterations in intelligent driving and tri-electric systems. They should also respond to leading automakers’ brand integration trend, optimize capacity structure by closing redundant capacity, concentrate resources on core NEV businesses, and advance digital upgrades to meet new production requirements.

This article analyzes current automotive industry trends, and clarifies customer demand and growth directions for service providers across the automotive supply chain:

1. Industry trends: Against the backdrop of slowing growth in China’s traditional domestic auto market, NEV transition and global expansion have become the two core strategic priorities for leading automakers, and related business demand will continue to grow.

2. Core customer pain points: Traditional multi-brand automakers commonly face overlapping brand positioning and internal competition during transition. For overseas expansion, they struggle with localization compliance, channel building and high reliance on single markets. For NEV R&D, they face pain points including tri-electric technology upgrades and insufficient charging infrastructure.

3. Growth opportunities for service providers: Service providers can build targeted offerings aligned with automakers’ needs: for NEV transition, they can offer technical services for intelligent driving R&D and tri-electric technologies, as well as construction and operation services for ultra-fast charging infrastructure; for global expansion demand, they can offer policy compliance consulting and resource matching services for different regions; for brand integration projects, they can offer consulting on organizational structure optimization to unlock new business growth.

This article outlines automakers’ evolving platform needs amid industry transition, and provides guidance for business adjustments for automotive industry platforms:

1. Core demand from automakers: As automakers accelerate global expansion, they have an urgent need to connect with localization resources for production, channels and compliance across different regions. During NEV transition, they need access to supply chain and technology resources in tri-electric systems and intelligent driving, and resource matching support for organizational restructuring during multi-brand integration.

2. Direction for platform business adjustment: Platforms can build dedicated overseas resource integration and matching platforms to meet automakers’ core global expansion needs, aggregating policy, production and channel resources across regions to help automakers cut overseas expansion costs and risks. They should also adjust their investment attraction strategies to focus on leading core NEV brands, and prioritize cooperation opportunities related to NEV models and global expansion business.

3. Risk mitigation guidance: Given slowing domestic market growth, platforms should not over-rely on business from a single domestic market, and can expand business across multiple regions following automakers’ diversified expansion strategies. They should also proactively monitor policy and geopolitical risks related to overseas expansion, and prepare risk diversification plans to avoid sharp business fluctuations.

This article summarizes the latest developments in China’s automotive industry in the first half of 2026, and provides a rich research case study through Geely’s transition practice:

1. Latest industry dynamics: China’s auto market has formed a new pattern of "slow growth domestically, strong growth overseas": domestic production and sales have declined, making exports the core industry growth engine. NEV penetration continues to rise, and leading traditional automakers are accelerating full NEV transition, while advancing organizational restructuring and global layout, exploring integration models such as Geely’s "One Geely" initiative and asset-light global expansion strategies.

2. New industry issues to watch: The industry is facing widespread structural contradictions: the ICE vehicle base is shrinking, while NEV growth has not yet fully offset the decline, leaving most traditional automakers facing domestic growth bottlenecks. All automakers expanding overseas also face shared uncertainty risks including tariff changes, exchange rate volatility and geopolitical tensions.

3. High-potential research directions: Areas including the path of multi-brand integration and realization of synergies during traditional automakers’ NEV transition, the replicability of asset-light diversified expansion models, and the role of full-domain technology systems in supporting traditional automakers’ transition all carry high research value and deserve further in-depth tracking and exploration.