Geely Holding Group, a leading Chinese automaker, announced on Sunday its ambitious goal to sell over 5 million vehicles annually by 2027.

This target represents a 79% increase from the 2.79 million units sold in 2023. The company plans to achieve this milestone by streamlining its brand portfolio and improving operational efficiency.

Geely has already shown strong momentum, selling 3 million vehicles in the first 11 months of 2024—a 20% year-on-year increase. Reaching the 5 million mark would position Geely among the world’s top 10 automakers, according to the company’s statement.