Introduction:
Geely Automobile, a name often overshadowed in the battery electric vehicle (BEV) landscape, is silently becoming a major player in the electric mobility industry. While it might not be a household name in the United States, Geely’s significant contributions to the global electric vehicle market should not be underestimated. In this article, we will delve into the reasons why Geely should be acknowledged as a significant BEV producer and explore the company’s vision for the future of electric vehicles.
Beyond the US Borders:
Geely is a part of the Zhejiang Geely Holding Group, which oversees multiple brands, including Volvo Car and Polestar. Still, Geely’s BEV efforts remain less known, primarily because its brands are not as prominent in the US market. Geely’s global presence and influence extend far beyond the US, and the company’s contribution to the EV space cannot be overlooked.
Cost Advantage of BEVs:
Dr Qingyuan Song, Chief Engineer of Policy and Regulatory Affairs at Geely Powertrain, firmly believes that traditional internal combustion engine (ICE) vehicles have no future in China. He predicts that beyond 2025, powertrains will lose their cost advantage compared to BEVs. The continual reduction in the cost of battery materials, coupled with more stringent global emissions regulations, makes ICE vehicles less competitive. Dr Song’s insights suggest that Geely is gearing up for a future dominated by BEVs.
Sales Volumes and Slow Growth:
Geely Automobile has been quietly selling a substantial number of BEVs despite not frequently making headlines in the media. However, their growth rate has slowed, which may contribute to their relative obscurity in BEV discussions. In September 2023, Geely sold 32,961 BEVs, marking only a 9% increase compared to the previous year. Although this slowed growth might lead to their omission in discussions, it’s important to note that Geely still manages to sell a large volume of BEVs relative to many other automakers.
Hidden Potential:
Geely’s performance isn’t limited to the number of top-selling BEV models, and this is one of the reasons it’s often overlooked. While they might not have a top 10 BEV model, Geely’s combined sales of the internal combustion engine (ICE), plug-in hybrid electric vehicle (PHEV), and BEV units are impressive. These figures illustrate the company’s ability to offer a wide range of vehicles to cater to diverse customer preferences. It’s also a testament to their commitment to diversification in the automotive industry.
Future Prospects:
Despite the challenges and slower growth, Geely is poised to remain a major BEV producer in the years to come. They’ve already shown a strong commitment to BEVs and are well-prepared for the transition from traditional ICE vehicles to electric mobility. Geely’s product offerings encompass compact and mid-size SUVs and a variety of driving experiences, from battery electric to extended-range electric and plug-in hybrid. The diverse portfolio aligns with the ever-evolving needs of consumers and positions Geely for success in the dynamic electric vehicle market.
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Conclusion:
Geely Automobile may not be the first name that comes to mind in the world of electric vehicles, but its steady progress and commitment to the future of BEVs cannot be denied. As the global automotive landscape shifts toward electric mobility, Geely’s impact will continue to grow, further solidifying its status as a significant player in the industry. It’s a reminder that the world of electric vehicles extends far beyond the well-known brands, and companies like Geely are driving innovation and shaping the future of transportation.
EXCERPT:
Geely Automobile, often overshadowed in discussions of electric vehicles, is quietly becoming a major player in the global EV market. Although not a household name in the US, Geely’s contributions should not be underestimated. Their commitment to electric mobility is evident in their substantial BEV sales, even though their growth has slowed in recent years. Dr Qingyuan Song’s insights into the future of traditional internal combustion engine (ICE) vehicles indicate that Geely is gearing up for a future where ICE vehicles lose their cost advantage. Despite the challenges, Geely is well-prepared to remain a major BEV producer, thanks to its diverse product portfolio and unwavering commitment to electric mobility.
