On July 9, Geely Radar announced that its first overseas subsidiary was officially established in Thailand, and the Thai market will also become its first independently operated overseas market.
In recent days, Geely Radar has made frequent moves in the Thai market. First, the Deputy Prime Minister of Thailand met with Geely Radar CEO Ling Shiquan and his delegation. Then Geely Radar announced that its pioneer products will participate in the 41st Thailand International Automobile Expo and will be unveiled under the new brand name RIDDARA.
The announcement of the establishment of a Thai subsidiary now also marks the further deepening of Geely Radar’s presence in the Thai market.
The Thai automobile market occupies an extremely important position in Southeast Asia and even the entire ASEAN automobile market. As one of the major automobile manufacturers and exporters in Southeast Asia, Thailand's automobile industry has become an important pillar of its economy.
In the new energy vehicle industry, Thailand is also in a period of rapid development. Relevant data shows that Thailand's full-year pure electric vehicle sales will reach 68,000 units in 2023, a year-on-year increase of 405%, increasing the share of pure electric vehicles in Thailand's total vehicle sales from 2022 The 1% in 2020 expanded to 8.6%. It is expected that Thailand’s pure electric vehicle sales will reach 85,000-100,000 units in 2024, and the market share will rise to 10-12%.
Recently, Thailand also released a series of new measures to support the development of the new energy vehicle industry from 2024 to 2027, aiming to promote the expansion of industry scale, enhance localized production and manufacturing capabilities, and accelerate the electrification transformation of Thailand's automobile industry.
It can be clearly seen that in recent times, many Chinese car companies are stepping up their deployment in Thailand. Not only are they exporting cars to Thailand, but they are also stepping up the construction of localized marketing networks, production bases, and energy replenishment systems.
On July 4, BYD held a ceremony for the completion of its Thai factory and the roll-off of its 8 millionth new energy vehicle in Rayong Province, Thailand. On the same day, GAC Aian announced that it had officially joined the Thailand Charging Alliance.
The entry of Geely Radar is also a typical case and may bring some new changes to the Thai pickup truck market. In terms of technology and system capabilities, the introduction of Geely Radar may be a good opportunity for the upgrading of Thailand's pickup industry.
The Deputy Prime Minister of Thailand once said that Geely Radar’s new energy pickup truck ecology entering Thailand will be an important engine for driving the upstream and downstream automotive industries, improving the technical capabilities of the pickup industry, and driving Thailand’s economic development.
Currently, the pickup truck market is attracting more and more attention. As one of the major players in new energy pickup trucks, Geely Radar has achieved good results in the pickup truck market and is accelerating the product layout of new energy pickup trucks.
According to reports, in 2023, Geely Radar's new energy pickup truck market share will exceed 60%, with a market share of up to 84.2% in a single month, winning the annual sales championship. At the same time, Geely Radar is also expanding the application scenarios of new energy pickup trucks, including a series of smart scenario solutions such as campers, fishing trucks, and plant protection drone platforms, to meet the diverse needs of consumers.
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Post time: Jul-12-2024