GEELY UK LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have received a formal "Letter of Support" from GIHK, providing a clear and strong commitment from Geely that the future financial support needed to maintain the operations of the Group will be provided for a period of at least 12 months from the signing date of the December 2024 accounts. ... Accordingly, Directors expect the Group will have the adequate resources to continue in operational existence for the foreseeable future, therefore adopting the going concern basis in preparing the annual financial statements.”

Group structure

1. GEELY UK LIMITED · parent
   1. London EV Company Limited (LEVC) 71.3% · UK · Production and sale of urban commercial motor vehicles
   2. Lotus Tech Innovation Centre GmbH 80% · Germany · Research and Development for the automobile industry
   3. LEVC Finance Limited 100% · British Virgin Islands · Dormant
   4. Emerald Automotive Design Limited (EAD) 100% · UK · Dormant
   5. LEVC MTech Limited 100% · UK · Dormant
   6. London EV Company (USA) Inc. 100% · USA · Dormant
   7. London EV Company (USA) LLC 100% · USA · Dormant
   8. The London Taxi Corporation Limited 100% · UK · Dormant

Significant events

• “In September 2024, the Company acquired 80% of the share capital of Lotus Tech Innovation Centre GmbH.”
• “On 29 May 2024, GIHK invested £50.0m in the Company, which in turn allowed the Company to invest a further £50m in to LEVC, acquiring a further 11,820,331 shares.”
• “On 27 September 2024, GIHK invested a further £9.5m in the Company, of which £9.1m was used by the Company to acquire 80% of the share capital of LTIC.”
• “On 1 March 2025, the wholesale unit stocking loan facility from Volvo Car Financial Services was renewed for a further 12 months, but reduced in size from £10m to £5m.”
• “In March 2025 the Company's subsidiary LEVC MTECH Limited commenced trading activities, ending its dormant status, and plans to launch the Geely EX5 all-electric SUV on 23 October 2025.”
• “In April 2025, the UK government extended the Plug-In Taxi Grant for one additional year at a 33% reduction, offering £4,000 per vehicle.”
• “In April 2025, an inter-company loan of £45.00m was issued to LEVC from GIHK for an initial term of 1 year, with £28.00m drawn.”
• “On 24 June 2025, a loan of £50.00m was issued to the Group from GIHK to replace the £50.00m bank loan with Santander UK Plc.”
• “On 17 July 2025, the Group repaid its HSBC loan of £65.00m early and replaced it with a 627.25m CNY loan with a term of one year.”
• “On 31 August 2025, the Group's loan with Societe Generale Bank was successfully renewed with unchanged terms or value, maintaining a facility of up to £38.00m.”
• “In July 2025, LEVC opened a new branch in Paris, France, to support the existing fleet of almost 300 TX5 vehicles.”
• “During July of 2025, LEVC announced a formal redundancy program for implementation in the second half of the year.”
• “On 26 August 2025, the Group's loan facility with BNP was repaid in full and replaced by an intragroup loan from GIHK for the same value.”
• “On 8 August 2025, the Company bought the shares in LEVC owned by Natixis SA for a total of £80.0m, increasing Geely UK Limited's ownership to 100% of LEVC's share capital.”
• “On 18 August 2025, the Company entered into an agreement to grant a right and license to use certain licensed technology to a third party.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

11

last 12 months

Capital events

4

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -21.1%

  £129,190,000 → £101,893,000

• Cash

  +86.2%

  £5,122,000 → £9,535,000

• Net assets

  -1,744.9%

  £6,786,000 → -£111,623,000

• Employees

  +21%

  461 → 558

• Operating profit

  -106.5%

  -£76,008,000 → -£156,959,000

• Profit before tax

  -71.9%

  -£104,772,000 → -£180,135,000

• Wages

  +12.2%

  £20,469,000 → £22,966,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers