And another Geely brand: Geometry
Geely, the brand that owns Volvo, Lotus and a couple of shares in Daimler – in addition to being a major carmaker in China – is surprising us with another new brand: the all-electric “Geometry”. It’s another demonstration of how agile the Chinese manufacturers have become; it’s almost on a weekly basis that new brands, model lines or collaborations are being announced.
Back to Geometry. The brand will launch more than 10 pure EVs by 2025 and has already over 26,000 orders for its first model, the Geometry A. In its long-range version, the A will be able to travel up to 310 miles, according to Geely.
In terms of market, China is target number one, but Geely isn’t shy to hide its ambitions to sell overseas as well. As the conglomerate’s president An Conghui said: "The launch of Geometry and its first product advances Geely's strategic goal of becoming one of world top 10 automotive groups." Remarkable also was the launch location, Singapore, a car-adverse city-state that focuses on autonomous.
Geely is right to focus on markets outside of China though; although sales have been good in 2018, with a posted growth of 20% (even with failing Proton in the mix), the Chinese automaker knows that the Chinese market is becoming much tougher than before. Already in 2018, growth slowed down, but also competition from new players and an improving second hand market. Export is the new cash cow.