MANILA: New energy vehicles (NEV) and their sustainable production have helped Geely Holding Group make progress towards its carbon neutrality goals.

Based on the Chinese conglomerate’s 2023 Sustainability Report, the Geely Holding Group saw its aggregate sales reach 2.79 million units with over 980,000 units coming from plug-in hybrid and battery electric vehicles.

The said figure accounted for 35 percent of the consortium’s annual load and translated to over a 51 percent increase compared to that of the previous year.

Further, the Geely Holding Group also integrated sustainability into the full lifecycle of its vehicles. It started using new materials, new sustainability mobility technologies, and improved material recyclability in its research and development.

“Geely Holding is resolute in championing green development, leading the charge in capping carbon emissions, and achieving carbon neutrality. With a clear goal of reaching full-chain carbon neutrality by 2045, we are shifting towards a nature-positive business model and strategically driving the development of our industry, value, and ecological chain towards a green and low-carbon future,” Geely Holding Group Chairman Eric Shufu Li commented.

By the end of 2023, 17 of the Geely Holding Group’s production plants have been recognized as “Green Plants” and three of its factories were acknowledged as “Zero-Carbon Plants.”

In addition, the Geely Holding Group also implemented the use of green methanol technology through the construction of a low-carbon green methanol production plant. This led to the establishment of a regional closed-loop circular green methanol ecology, which helps reduce carbon emissions by more than 160,000 tons annually.

As part of the Geely Holding Group’s zero-carbon transformation, it aims to continue to improve its sustainable operations by establishing an internal carbon management system and independently developing a digital carbon management platform, the “Geely Carbon Cloud.”

Moreover, the Group has invited some 1,669 upstream and downstream value chain partners to utilize the technology to reduce supply chain emissions.

Expanding the scope of sustainability from just carbon emissions, Geely has also created a key raw material traceability platform utilizing blockchain technology and updated its Supplier Code of Conduct to proactively encourage upstream and downstream partners to operate more sustainably.

“We accelerate pioneering a business model based on circular economy that integrates the conservation of natural resources and biodiversity into our production and operational processes. Our investments in new materials, technologies, and innovative concepts continue to drive our progress in this area,” Geely Holding Group Chief Executive Officer Daniel Donghui Li noted.

Photos from Juan Paulo Papa

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