SHANGHAI (Reuters) -Chinese language automaker Zhejiang Geely Holding on Tuesday unveiled a brand new electrical pickup truck, concentrating on rising demand from metropolis residents as coronavirus restrictions gas curiosity in out of doors actions like tenting.
The Volvo proprietor additionally launched a brand new model, RADAR, at an internet occasion on Tuesday the place it showcased its first pickup product, which it referred to as RD6. An earlier assertion had referred to the brand new truck as R6.
It didn’t disclose the car’s promoting worth however stated it might have a driving vary of greater than 600 km (370 miles) per cost.
Pickups are thought of a distinct segment section in China the place they’re largely utilized by farmers. They’re nonetheless banned from most city roads regardless of trials since 2016 permitting restricted entry to a number of cities and urging from Beijing to take away pink tape.
Pickups contributed round 2% of China’s auto gross sales final 12 months, with development outpacing that of different segments together with sedans and sports activities utility autos.
Curiosity within the autos is rising among the many nation’s city residents who’re taking over out of doors pursuits as COVID-19 measures discourage gatherings and restrict journey.
“In an optimistic estimation, the annual gross sales of pickup vehicles can attain 3 million models in China by 2030,” CEO of RADAR Ling Shiquan instructed Reuters.
“Extra individuals are pursing a wholesome life-style with extra out of doors actions whereas the governments are additionally stress-free restrictions for pickups in cities. These adjustments are supporting the expansion of pickup vehicles,” Ling added.
Nonetheless, gross sales of pickups fell 10.3% within the first 5 months of this 12 months, towards a 13% fall in passenger autos extra broadly, information from the China Passenger Automobile Affiliation (CPCA) confirmed, with the business additionally hit by COVID-19 restrictions.
Ling stated Geely goals to begin providing the RD6 to Chinese language shoppers within the fourth quarter. The corporate can also be finding out the Southeast Asian marketplace for potential growth alternatives.
Geely may additionally deliver the vehicles to the USA, the world’s largest pickup market, to compete with current gamers reminiscent of Ford, Tesla and Rivian, Ling stated.
China’s pickup market is dominated by Hebei-based Nice Wall Motor, whereas international gamers embody Ford’s F-150 Raptor and a $9,000 pickup truck launched by Normal Motors with its native three way partnership final 12 months.
RADAR will add to the greater than 10 passenger car manufacturers Geely owns, which embody Zeekr and Polestar. It would produce the pickups at a plant within the jap province of Shandong, the corporate stated.
Geely beforehand rolled out a pickup with a combustion engine priced from 119,900 yuan ($17,815.75) two years in the past.
($1 = 6.7300 Chinese language yuan renminbi)
Reporting by Zhang Yan, Brenda Goh; Enhancing by Kirsten Donovan and Josie Kao
