SHANGHAI: Chinese automaker Geely Automobile Holdings Ltd has reported year-on-year revenue growth of 56% in the first quarter (1Q) of this year, with its net income soaring 119% during the period, according to its 1Q financial report released last Friday.

The company recorded a total revenue of 52.3 billion yuan (US$7.34bil) during the period, with its net income topping 1.56 billion yuan.

During the first five months, the company’s cumulative vehicle sales volume reached 789,645 units, up over 45% year-on-year, according to the report.

Notably, from January to May, its new energy vehicles (NEVs) under the three major brands of Geely Auto, Lynk & Co and Zeekr, achieved a total sales volume of 254,226 units, representing a robust year-on-year increase of some 126%.

Lynk & Co, targeting the global premium NEV market, launched its first pure electric sedan, the Z10, globally in June.

During the first quarter, Lynk & Co alone sold 61,056 vehicles, and by May, the sales volume had surged to 21,778 vehicles, with NEVs accounting for 57% of the total, setting a new record high.

 - Xinhua