Chinese EV maker Geely Auto unveils first pure electric Galaxy model, attracting mainstream buyers from BYD and foreign brands

Geely Auto GroupOne of China’s largest private automakers has launched a pure electric sedan under its mass-market brand Galaxy to take on BYD’s best-selling model amid increasing competition.

The basic edition of the E8 has a range of 550 km and is priced at 175,800 yuan (US$24,752), 34,000 yuan cheaper than the Han. Electric vehicle (EV) constructed by BYDthe firing range is 506km.

Hangzhou-based Geely Automobile plans to start delivering Class B sedans in February, hoping to target budget-conscious mainland motorists, said company CEO Gang Jiayue.

“In terms of safety, design, performance and intelligence, the E8 has proven to be superior to any blockbuster model,” he said at a media briefing after the launch ceremony on Friday. “We expect it to be an ideal model to replace both existing gasoline and electric vehicles.”

The E8 features a 45-inch screen supplied by display panel manufacturer BOE Technology. Photo: Geely — The E8 features a 45-inch screen from display panel manufacturer BOE Technology.Photo: Geely

Geely Automobile has reduced the price of the model by 12,200 yuan from the price of 188,000 yuan on December 16, when pre-orders began.

Based on the company’s Sustainable Experience Architecture (SEA), the E8 is also the company’s first fully electric vehicle, following two plug-in hybrid vehicles launched in 2023: the L7 sport utility vehicle and the L6 sedan.

The company plans to manufacture and sell a total of seven models under the Galaxy brand by 2025. For mainland consumers, it will be more affordable than the company’s cars. Zeekr brand EVIt competes with premium models manufactured by companies such as. teslasaid Gunn.

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Its parent company, Zhejiang Geely Holding Group, also owns major manufacturers such as Volvo, Lotus and Link. Geely Holding has a nearly 6% share of mainland China’s EV market.

The E8 uses the Qualcomm Snapdragon 8295 chip to support intelligent features such as voice-activated controls. The 45-inch screen, the largest in a smart car made in China, will be supplied by display panel manufacturer BOE Technology.

Currently, China’s Class B sedan category is dominated by gasoline-engine models from foreign automakers such as Volkswagen and Toyota.

China’s BYD overtakes Tesla to become the largest manufacturer of pure electric vehicles

Sales of battery-powered vehicles in mainland China are expected to grow 20% year-on-year in 2024, slowing from a 37% increase last year, according to the China Passenger Vehicle Association, according to a November report from Fitch Ratings. It is said that they are doing so.

China is the world’s largest automobile and EV market, accounting for approximately 60% of global electric vehicle sales. However, only a few manufacturers such as BYD and Li Auto are profitable.

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A new round of price cuts is underway, with top players such as BYD and Xpeng offering discounts to tempt buyers.

In November, Geely Automobile’s parent company entered into a partnership with. Nio is based in Shanghai.is a premium EV maker and will promote battery swapping technology as both companies seek to overcome the issue of inadequate charging infrastructure.

Battery swapping technology allows electric vehicle owners to quickly replace a used battery pack with a fully charged battery pack.

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