The Underdog That Outran the Giant and Rewrote China's EV Race
Geely had become an outdated automotive company which produced only gasoline vehicles after it developed its first electric model to compete against BYD. The situation has completely changed. The world now recognizes Geely Automobile Holdings as the leading electric-vehicle stock in the global market which has sparked renewed competition between international automotive companies.
A Rally That Left Everyone Behind
The stock price of Geely which trades on the Hong Kong market has increased by more than 50% since the beginning of the Iran war which brought the stock to its highest value after four years. The gain surpassed every company that belonged to an 81-member global benchmark which tracked EV-related businesses that included manufacturers from the United States, Europe, and Asia. BYD managed to achieve approximately 7% growth during the same period. The distance between those two figures reveals crucial data regarding the current state of investor sentiment.
An oil shock served as the catalyst. Chinese consumers accelerated their transition from gasoline vehicles due to rising energy prices which developed from the ongoing Middle Eastern conflict. The stock's upward movement results from more than favorable timing because it demonstrates operational changes which the company has implemented over multiple years.
From Petrol Giant to Electrification Contender
Geely used concrete financial information to establish its argument based on its 2025 full-year results. The company achieved full-year sales of 3.02 million units which represents a 39% increase compared to the previous year. The new energy vehicle segment was the engine of that growth, with NEV sales skyrocketing 90% to 1.69 million units — a new company record. The company achieved a 25% revenue increase which brought its total revenue to 345.2 billion yuan While its total net income reached 16.85 billion yuan, it surpassed analyst expectations which Bloomberg had compiled from 31 financial experts.
The mid-range electrified sub-brand Geely Galaxy achieved one million annual unit sales within a period of 29 months which has become the fastest achievement for any new energy brand in China. The Galaxy Starship 7 hybrid compact SUV priced between 100000 and 150000 yuan attracted attention because its Raytheon EM-i hybrid system achieved 46.5% thermal efficiency which outperformed BYD's fifth-generation DM-i technology. Geely's premium electric brand Zeekr which existed as a separate entity until December 2025, returned to the parent company. The company almost doubled its January 2026 delivery volume to 23852 units.
The Sales Battle at the Top
Stock prices are no longer the only thing at stake in the competition. Geely reached a historic milestone by selling 270167 vehicles through its Chinese operations which marked its first time outselling BYD in domestic passenger car sales since multiple years. BYD experienced a 30% annual decrease in its monthly NEV sales, which dropped to 210051 units while Geely achieved growth for both year-over-year and month-over-month performance, which very few major automotive companies could achieve. Geely established its largest worldwide sales lead over BYD since 2022 early in the first two months of 2026.
Geely plans to achieve 345 million total sales across its global operations while reaching 22 million NEV sales for 2026. The company's exports increased by 121% year-over-year in January 2026, reaching 60506 units while March exports soared another 120% year-over-year to 81639 units. These numbers indicate that the international expansion will reduce BYD's major overseas market dominance which the company established by sending 1.05 million units to international markets in 2025.
Still a Gap to Close
Geely has not succeeded in dethroning BYD as its long-term competitor. BYD operates a complete supply chain which includes all production stages from battery cells through to finished vehicles This system provides cost advantages that Geely needs to achieve. BYD has set its 2026 export goal at 1.3 million units, which is slightly more than double Geely's current export volume. The competition has developed into an equal contest between the two companies. Geely achieved its stock market victory in London which serves as a financial record, yet this development proves that the competition between China and international markets.
