Geely is currently restructuring its battery division, with plans to potentially integrate several entities into its publicly traded automotive arm. According to a senior executive, this consolidation depends on the battery group achieving profitability. The move aligns with the company's broader strategy to streamline operations and reduce internal redundancies.
Recent regulatory filings confirm that CATL has acquired a stake in Chongqing Yaoning New Energy Technology. The State Administration for Market Regulation approved the deal on September 3, 2026. The transaction involved CATL and Zeekr Auto (Shanghai) Co., Ltd. Geely executives clarified that this specific sale was an isolated case driven by CATL's need for capacity expansion.
Chongqing Yaoning was established in December 2021 and is currently a wholly-owned subsidiary of Jiangsu Yaoning New Energy. The majority shareholder of Jiangsu Yaoning is Zhejiang Jiyaotong Energy Technology, which is a primary group under Geely Holding. Jiyaotong was founded in January 2025 and became a shareholder of Jiangsu Yaoning in October of the same year.
An Conghui, the new chairman of the board at Geely Auto, announced plans during the 2026 interim earnings call to deepen the 'One Geely' strategy. The initiative focuses on optimizing resource allocation and eliminating redundant projects. The company intends to integrate valuable and mature business segments into the listed entity to strengthen its overall market position.
