Geely takes EV right-hand drive seriously: new models in New Zealand and what it signals for UK Smart buyers

New Zealand has just become one of the first right-hand-drive markets to receive two new Geely models: the EX5 Extended-Range PHEV and the Starray EM-i. The EX5 PHEV lands at NZ$49,990 with a 430 km WLTP total range and 83 km of pure electric running — useful enough that most New Zealand commuters would rarely need the petrol range-extender. The Starray EM-i is the more ambitious of the two: an extended-range electric version of the Monjaro-based SUV with 136 km WLTP EV-only range and a combined range of 996 km. Both come with a warranty package that is more generous than anything Geely currently offers through Smart in the UK: seven years, unlimited kilometres on the vehicle, and eight years on the high-voltage battery. None of these models will land in UK showrooms in the near future — the UK Smart network sells Smart #1 and Smart #5, not Geely-badged product — but the significance is strategic. Geely is actively engineering for right-hand-drive markets, not just shipping China-spec left-hand-drive product with the wheel moved. That distinction matters when assessing how serious the group is about long-term right-hand-drive commitment, which includes the UK.

The New Zealand arrival does not happen in isolation — it rides on an export surge that is reshaping Geely Auto's entire business model. By the end of July 2026, the group had shipped 580,891 vehicles overseas year-to-date, a 202% increase on the same period in 2025. That figure is so large it has already surpassed Geely's original full-year 2026 export target of 640,000 units, forcing the company to revise its target upward to 920,000 by August. In July alone, 106,663 vehicles left Chinese factories bound for international markets. Of those, 59% were new-energy vehicles — the majority hybrids and battery electrics. The scale matters for UK Smart buyers because export margin underwrites the group's finances. Geely disclosed that its overseas gross margin ran at 22–25% in H1 2026 versus roughly 15% domestically. Every international sale strengthens the group's ability to maintain the engineering, software, and parts network that UK Smart owners depend on.

The export story has a mirror image that UK buyers should not ignore. Geely's domestic China sales fell 22.6% in H1 2026 and deteriorated further to -29.1% in July 2026 alone, as domestic competition from BYD, Li Auto, and a wave of sub-£10,000 urban EVs squeezed the mid-market. In July, only 143,498 of Geely's 250,000+ total vehicles sold went to Chinese buyers — the balance went overseas. This reversal matters because for much of the past decade, a booming home market financed Geely's international expansion. Now that relationship has inverted: international markets, including the UK and Australasia, are financing group-wide operations, and the health of those export markets has become critical to the overall balance sheet. The good news: Geely's H1 2026 gross margin of 17.9% and 46% jump in core profit show the export model is genuinely profitable, not just volume-driven. But the domestic slide is a structural challenge to watch, not a passing quarter.

Smart #1 and Smart #5 are sold in the UK through Smart Automobile, a 50/50 joint venture between Geely Holding and Mercedes-Benz. That structure means Smart's fate depends on both parents maintaining their commitment — and this data suggests Geely's financial health, while evolving, remains robust. The 580,000-vehicle export pace, strong margins, and active RHD product development all support the case that Geely is not retreating from international markets. The new An Conghui leadership (former Zeekr CEO) brings someone with direct experience building a premium Chinese EV brand internationally, which is closer to what Smart needs to achieve in the UK than a domestic-market generalist approach. Two near-term items for UK Smart buyers to monitor: first, whether the group's 2027 solid-state battery programme — targeting all Geely brands including Smart — delivers on its 500 Wh/kg and 1,000 km range claim; and second, whether the leadership overhaul leads to any change in the Mercedes co-investment in Smart Automobile. No change has been signalled as of late August 2026, but it is worth watching.

The Geely picture in late August 2026 is more nuanced than the headline export numbers suggest. On the positive side, the group is executing its international pivot with genuine discipline: new RHD-native product in New Zealand, 580,000+ exports in seven months, margins that compare favourably to established European volume brands, and an incoming leadership team with premium-EV credentials. For UK Smart buyers, the balance of evidence is reassuring rather than alarming. On the negative side, a 29% domestic sales decline is not a rounding error — it reflects structural pressure from a Chinese EV market where cost competition has become extreme. Geely must sustain its export profitability to offset that headwind, and any significant slip in international markets or a deterioration in global trade conditions (tariffs, logistics) would tighten the group's finances quickly. Our current survival rating for Smart UK is medium-confidence stable: the JV structure with Mercedes-Benz provides a meaningful buffer, but we recommend UK buyers verify parts and service network commitments with their Smart dealer before signing a long finance term.