SHANGHAI — Zhejiang Geely Holding Geely on Tuesday unveiled a brand new electrical pickup truck, concentrating on rising demand from metropolis residents as coronavirus curbs gasoline an curiosity in outside actions akin to tenting.
The Volvo proprietor additionally launched a brand new model, Radar, at an internet occasion on Tuesday the place it showcased the primary pickup, the RD6. It didn’t disclose the automobile’s promoting value however stated it might have a driving vary of greater than 600 km (370 miles) per cost.
“In an optimistic estimation, the annual gross sales of pickup vehicles can attain 3 million items in China by 2030,” Radar CEO Ling Shiquan instructed Reuters in an interview.
“Extra individuals are pursing a wholesome life-style with extra outside actions whereas the governments are additionally stress-free restrictions for pickups in cities. These modifications are supporting the expansion of pickup vehicles,” Ling added.
Pickups are thought-about a distinct segment phase in China the place they’re principally utilized by farmers. They’re nonetheless banned from most city roads regardless of trials since 2016 permitting entry to pick out areas in a number of cities and urging from Beijing to hurry up the elimination of pink tape.
Such autos accounted for round 2 % of China’s auto gross sales final yr, with progress outpacing that of different segments together with sedans and SUVs.
Curiosity within the autos is rising among the many nation’s city residents who’re taking over outside pursuits as COVID-19 measures discourage gatherings and severely hit home and worldwide journey.
Nonetheless, gross sales of pickups fell 10 % within the first 5 months of the yr, towards a 13 % decline in passenger autos extra broadly, information from the China Passenger Automotive Affiliation confirmed, with the business additionally hit by COVID restrictions.
Ling stated Geely goals to begin providing the RD6 to Chinese language shoppers within the fourth quarter whereas the corporate can be finding out Southeast Asian markets for potential growth alternatives.
Geely may additionally search to carry the vehicles to the USA, the world’s largest pickup market, to compete with fashions from automakers akin to Ford, Tesla and Rivian, Ling stated.
China’s pickup market is at present dominated by Hebei-based Nice Wall Motor, whereas international fashions embody Ford’s F-150 Raptor and a $9,000 pickup truck launched by Normal Motors with its native three way partnership final yr.
Geely beforehand rolled out a pickup with a combustion engine priced from 119,900 yuan ($17,815.75) two years in the past.