The Zhejiang Geely Holding Group has made it to the 2012 Fortune Global 500 list - Fortune Magazine’s authoritative ranking of the world’s 500 biggest companies.
The Chinese company ranked at respectable 475th place, with a revenue of USD 23.3557 billion earned in 2011. Royal Dutch Shell, Exxon Mobil, and Wal-Mart Stores were in the top three spots.
Geely are particularly happy about the achievement, because it's the company's first time on the list.
After their acquisition of Volvo Cars in 2010, new batches of Geely products have been launched to the international market in succession, such as EC7, EC8, GX7. Most of these models are also destined for South African shores, before the end of 2013.
The Geely LC Cross (pictured) was recently introduced to the local market.
Volvo Cars sold 449,255 vehicles globally last year, which equates to an increase of 20.3% compared to the sales volume of 373,525 cars in 2010. Concerning the business revenue, USD 18.59 billion was earned in 2011, which is 11.1% higher than the year before.
It seems like Chinese automakers like Geely have no plans to hit the brakes.