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The Star
28-05-2025
- Automotive
- The Star
Global EV stockpile sparks new price war as Thailand faces after-sales challenges
BANGKOK: The global electric vehicle (EV) industry is facing a crisis of excessive stockpiles, igniting a new round of price wars, while in Thailand, challenges persist in after-sales services despite consumer benefits from lower prices. The Federation of Thai Industries (FTI) emphasises that the automotive market has long been competitive and urges manufacturers to have sufficient capital and to accelerate adaptation. Analysts suggest the era is shifting toward restructuring with a focus on after-sales services to build consumer confidence. The survival of brands may hinge on their parent companies' strategies. On May 27, 2025, Chinese EV makers' stocks fell for two consecutive days following a major price cut announcement by BYD, the world's top EV seller by volume in China. BYD slashed prices on up to 22 EV and hybrid models by as much as 34 per cent over the past weekend, potentially triggering a fresh EV price war in China amid concerns across the auto industry. Reuters and international media reported that on May 23, BYD launched a large-scale discount and incentive campaign running through June, cutting prices on 22 models, including a 34 per cent reduction on the Seal sedan and a 20 per cent cut on the Seagull model, with the cheapest Seagull electric hatchback starting at about 55,800 yuan (US$7,745). BYD customer service officials said customers must participate in a government-backed trade-in programme encouraging consumers to exchange old products—from appliances to cars—for new ones, stimulating demand in China. Following BYD's price war kickoff, other Chinese automakers like Geely and Leapmotor quickly announced their own discount campaigns starting May 26. Geely Auto's Geely Galaxy brand began aggressive price cuts on Monday, offering discounts up to nearly 19 per cent on seven budget models until June 1. Other models received discounts ranging from 8 to 19 per cent. Buyers trading in vehicles receive subsidies of about 3,000 yuan from the company and up to 20,000 yuan from the government. Leapmotor offered up to 30 per cent off the C11 SUV, reducing prices by 45,000 yuan to start at 103,800 yuan. Meanwhile, IM Motors cut prices on the LS6 electric SUV by nearly 19 per cent, starting at 194,900 yuan. A team from Deutsche Bank, led by Wang Bin, attributes BYD's recent price cuts to rapid inventory build-up at dealerships. In the first four months of 2025, BYD's dealer stock rose by about 150,000 units, nearly matching half-month retail sales. 'Our checks with dealers show BYD's inventory level stands at approximately three to four months' supply, likely the maximum dealers can handle,' Deutsche Bank noted. The inventory increase partly reflects BYD's ambitious target of 5.5 million unit sales in 2025, a 30 per cent increase over the previous year. However, BYD's retail sales rose only 15 per cent year-on-year in the first four months. Deutsche Bank analysts also highlighted that new orders for BYD's 'God's Eye' autonomous driving system have fallen short of expectations, contributing to softer retail sales. They believe BYD's additional price cuts may fuel intensified mass-market competition, prompting rivals to follow suit. Yel Zhang, Managing Director of consulting firm Automotive Foresight, told Forbes that BYD aims to attract price-sensitive consumers with aggressive discounts. However, he doubts whether this strategy will be fully effective in the long term. Wei Jianjun, Chairman of Great Wall Motors, warned in a recent interview with Sina Finance that China's auto industry faces its own 'Evergrande' crisis, referring to the massive debt problems that engulfed the Chinese real estate giant China Evergrande and triggered a liquidity crisis in the sector. The outspoken Great Wall chairman described China's EV industry as being in an unhealthy state due to heavy losses and a prolonged price war that has disrupted the supply chain. He further explained that suppliers are struggling to survive amid ongoing pressure to reduce prices and delayed payments, while accusing some automakers of neglecting safety and reliability concerns. Thailand's EV market showed remarkable growth in 2023, with registrations hitting 76,000 units, a huge leap from less than 10,000 units in 2022. Government incentives promoting EV use and investment have attracted many players, especially Chinese brands benefiting from the Asean-China Free Trade Agreement, allowing EV imports from China without tariffs. However, after the record-breaking surge, 2024 saw registrations decline to about 70,100 units, an 8 per cent drop, signaling emerging challenges for the EV sector. Industry sources said the explosive growth in 2023 led many to believe EVs would disrupt traditional automotive markets, prompting numerous brands to heavily invest and launch new models, resulting in excessive vehicle stockpiles and flawed planning. With inventories surpassing demand, the market now faces the challenge of liquidating excess stock, including through price reductions. Many analysts expect modest growth ahead. Saroj Ma-Ajlert, Senior Vice President of Sales and After-Sales at Mitsubishi Motors Thailand, said EV popularity remains but growth is moderate. Various brands try different marketing tactics, including auto shows like the Bangkok International Motor Show and Motor Expo, which temporarily boost sales, but overall market share has not shifted significantly. Phongsak Lertrudeewatthanawong, Deputy Managing Director of MG Sales Thailand, said the EV market share is about 13–14 per cent. Significant growth beyond this will require factors that change market dynamics and convince hesitant customers to switch to EVs. Phongsak emphasised that a critical negative factor slowing the EV market is after-sales service. Increasing complaints include lack of parts availability and long repair times, which harm consumer confidence. Addressing these issues and raising awareness is a key task for operators and a competitive advantage for those who succeed. This trend marks a turning point for the EV market, requiring balanced planning of sales and parts supply—especially for components traditionally not replaced quickly, like body parts after accidents. If after-sales challenges persist alongside market stagnation and consumer uncertainty, the EV business outlook will deteriorate further. Although the recent large-scale price cuts in China grab headlines, they are unlikely to significantly affect Thailand's EV market. Globally, EVs—including those in China—are still priced higher than internal combustion engine (ICE) vehicles, hybrids, or plug-in hybrids. Thailand remains unique in offering EVs at prices lower than ICE vehicles. Thailand's EV prices have stabilised following aggressive pricing during recent motor shows, which is a positive sign. However, price competition may still emerge as part of normal business dynamics and brand strategies, considering broader market conditions beyond any single country. Comparing Thailand's market with that of parent companies in China reveals vast differences in production and sales volumes. Parent companies may not prioritise profitability heavily, meaning the Thai market—relatively small—may be less impacted by Chinese price wars. However, if parent companies falter, this signals trouble for subsidiaries globally, including in Thailand. Surapong Paisitpattanapong, Advisor to the Automotive Industry Group and Spokesperson of the Automotive Industry Group at the Federation of Thai Industries (FTI), said that the ongoing intense EV price war in China is driven by a crowded market and fierce competition for market share. Oversupply has pushed leading makers like BYD to cut prices, increasing pressure on rivals including Tesla, which launched China's EV price war in 2023. Thailand's EV production has also supported Chinese brands' growth, whether or not prices are cut, because Thai consumers value model design, brand, and technology. Thai manufacturers have produced under the government's EV3.0 policy, including exports. BYD, for example, produced 660 units domestically in April 2025 as part of production offset requirements, with more production expected through 2027 under EV3.5 import and production schemes. In this fierce competition, manufacturers must have long-term financial endurance and adjust investments to remain competitive. Competition is natural, as ICE vehicles have faced intense competition for decades, he said. Ultimately, success depends on winning consumer preference, especially through excellent after-sales service, parts availability, skilled technicians, and customer support, Surapong concluded. - The Nation/ANN
Yahoo
13-05-2025
- Automotive
- Yahoo
Electric Vehicle Market worth $3,760.9 billion by 2034- Exclusive Report by The Research Insights
CHICAGO, May 13, 2025 /PRNewswire/ -- The global Electric Vehicle Market is projected to be valued at USD 533.9 billion in 2024 and reach USD 3,760.9 billion by 2034, growing at a CAGR of 21.55% according to a new report by The Research Insights. The market for electric vehicle is driven by EV battery price reductions combined with increasing environmental awareness government support and battery technology advancements. The market has seen significant improvements in energy density, along with cost reductions, enabling longer range capabilities while minimizing expenses. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Electric Vehicle market growth of 21.5% comprises a vast array of vehicle type, propulsion type, drive type, vehicle speed, vehicle class, end-use and geography which are expected to register strength during the coming years. For More Information and To Stay Updated on The Latest Developments in The Electric Vehicle Market, Download the Sample Pages: Market Overview and Growth Trajectory: Electric Vehicle Market Growth: According to an exhaustive report by The Research Insights, the Electric Vehicle Market is experiencing significant growth, driven by the lower fuel and maintenance costs of electric vehicles compared to traditional internal combustion engine vehicles act as a strong incentive. Significant improvements in energy density together with cost reductions now allow electric vehicles to deliver longer range capabilities while minimizing expenses. The emergence of high-power fast chargers combined with growing charging infrastructure networks now allows electric vehicle users to travel longer distances with greater ease. The worldwide adoption rate of electric cars continues to climb thanks to improvements in infrastructure and technology. Accelerating Innovation Across the EV Landscape: Electrification Redefines Automotive Engineering and Supply ChainsThe electric vehicle market is undergoing a pivotal transformation, fuelled by climate targets, advancements in battery chemistry, and strong government policy support. The shift toward zero-emission mobility places unprecedented pressure on automakers and suppliers to innovate across every aspect of EV design and performance. As outlined in hybrid electric vehicle battery market report, next-generation EVs must deliver longer ranges, faster charging, and greater affordability to meet global adoption goals. In response, major players are intensifying product development, for instance, Geely Galaxy's Galaxy L6 EM-i hybrid sedan delivers electric-only ranges of up to 140 km, while Volvo's EX30 Cross Country offers 427 km range and all-terrain capabilities with a 26-minute fast charge. Automakers like Tesla and Volkswagen are expanding offerings that integrate software, performance, and design—proving that the future of EVs lies in balancing innovation with consumer expectations. Simultaneously, the rise of commercial EVs and last-mile solutions adds further complexity to vehicle design. The launch of Lohia Auto's Humsafar IAQ, a three-wheeled electric vehicle tailored for urban transport, and Alexander Dennis' zero-emission buses in the UK and Ireland demonstrate how electrification is reaching diverse transport segments. These evolving needs are pushing the EV industry to explore smart battery systems, lightweight materials, and modular designs that enhance both performance and serviceability. Charging Infrastructure and Material Breakthroughs Reshape EV Ecosystem Expectations: The growing electric vehicle population is redefining the role of infrastructure and materials within the automotive value chain. The expectations for charging infrastructure are expanding as users demand faster, more accessible, and energy-efficient systems that can support diverse vehicle platforms. Reports such as, Electric Vehicle Charging Infrastructure Market and many others highlight the need for high-conductivity materials, thermal resilience, and interoperability across networks. For instance, vehicles like the Volkswagen ID.4 Pure, which supports both AC and fast DC charging, reflect this shift—achieving up to 363 km of range and restoring 80% battery capacity in just 25 minutes. At the material level, the growing complexity of electric drivetrains, battery packs, and onboard electronics is leading to new demand for thermally conductive polymers, electromagnetic shielding, and high-strength adhesives. Thermal Conductive Polymer Material for Electric Vehicles Market explore how these materials enable heat management, weight reduction, and long-term structural integrity. As vehicle electronics become more advanced and susceptible to signal interference, the application of shielding coatings, discussed in the Electromagnetic and Radio Frequency Interference Coating for Electric Vehicles Market, is gaining momentum across the EV sector. With manufacturers embracing digital platforms, over-the-air software updates, and predictive diagnostics, material choices now influence not only vehicle performance but also data security and system reliability. In this rapidly advancing environment, the electric vehicle market must accelerate at the intersection of performance, infrastructure, and sustainability, defining the future of mobility through constant reinvention. Stay Updated on The Latest Electric Vehicle Market Trends: Strategic Alliances and Emerging Markets Broaden the EV Landscape: Strategic partnerships transform market dynamics by extending electric vehicle technologies to previously untapped geographies and sectors. The August 2023 merger between ElectraMeccanica and Tevva demonstrates heightened interest in electrifying commercial transport while combining American and British manufacturing capabilities to expand truck production worldwide. NexGen Energia launched an affordable electric two-wheeler in India during April 2024 which demonstrates how companies are meeting consumer price sensitivity and accessibility demands in emerging markets while strengthening electric vehicle sector contributions to inclusive and sustainable growth. Geographical Insights: Asia Pacific dominated the electric vehicle market in 2024; it would continue to dominate the market during the forecast period and account for more than 45-55% share by 2034. Europe is the second-largest contributor to the global electric vehicle market, followed by North America. The Asia Pacific region is becoming a key centre for electric vehicle suppliers because of beneficial local and international conditions. China leads global electric vehicle innovation through its effective regulatory framework and robust industrial capabilities. The worldwide adoption of electric vehicles is led by China because of its widespread battery charging network and technical manufacturing strengths. Through several initiatives that promote new energy vehicles across both urban and rural areas and accelerate the development of charging networks the Chinese government is accelerating the shift towards electric vehicles. The electric car industry in India made major progress because of continuous support policies and incentives developed over the past few years. MG Motor stands as an outstanding case because it functions as a subsidiary of SAIC Motor. MG Motor introduced the Comet EV model which combines modern aesthetics and customization options through a variety of colour choices and stickers at a cost-effective price of USD 9,700 (7.98 lakh INR). The Indian government plans to address growing electric vehicle requirements by expanding charging networks and supporting local battery manufacturing for EVs. Global Electric Vehicle Market Segmentation and Geographical Insights: Based on vehicle type, the market is divided into scooters, motorcycles, three-wheelers, passenger cars, buses, and trucks. The Passenger cars segment held the largest share in 2024 of the global electric vehicle market because of their dominant revenue share which results from increased environmental awareness combined with supportive government policies and ongoing advancements in battery technology and charging systems. Based on propulsion type, the market is divided into Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs) and Fuel Cell Electric Vehicles (FCEVs). The Battery Electric Vehicle (BEV) segment held the largest share in 2024 of the global electric vehicle market. Based on drive type, the market is divided into Front-Wheel Drive (FWD), Rear-Wheel Drive (RWD), and All-Wheel Drive (AWD) vehicles. The Front-Wheel Drive (FWD) segment held the largest share in 2024 of the global electric vehicle market due to its increasing popularity through their affordability and simple design which makes them ideal for everyday city travel. Based on vehicle speed, the market is divided into Less Than 100 MPH, 100 MPH to 125 MPH and Above 125 MPH. The 100 MPH–125 MPH speed segment held the largest share in 2024 of the global electric vehicle market due to consumers preferred electric vehicles that combined practical functionality with enhanced performance. Based on vehicle class, the market is divided into Low, Mid, and High. Low-Priced Electric Vehicles segment held the largest share in 2024 of the global electric vehicle market which reflect evolving consumer preferences. Based on end use, the market is divided into Commercial and Personal. The personal EVs segment held the largest share in 2024 of the global electric vehicle market due to Growing environmental awareness along with widespread model availability and consumer incentives The Electric Vehicle Market is segmented into five major regions: North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. Purchase Premium Copy of Global Electric Vehicle Market Size and Growth Report (2025-2034) at: Key Players and Competitive Landscape: The Global Electric Vehicle Market is characterized by the presence of several major players, including: AB Volvo BYD Company Ltd. Ford Motor Company General Motors Honda Motor Co., Ltd. Kawasaki Motors Corp., U.S.A Mercedes-Benz Group AG Mitsubishi Motors Corporation Nissan Motor Co., Ltd. Renault Group Tesla, Inc. Toyota Motor Corporation Volkswagen Group Zero Motorcycle These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. For Region-Specific Market Data, Check Out Brief Sample Pages: Global Electric Vehicle Market Recent Developments and Innovations: In February 2025, Geely Galaxy launched their new compact plug-in hybrid sedan Galaxy L6 EM-i in February 2025 with five different variants. The sedan offers electric-only driving ranges from 60 km to 140 km under the CLTC cycle and its price falls between CNY 79,800 and CNY 106,800. In February 2025, Volvo Cars introduced the fully electric compact SUV known as the Volvo EX30 Cross Country. The Volvo EX30 Cross Country will enter deliveries starting in spring 2025 after becoming available for pre-order in select markets. The vehicle provides drivers with a maximum distance capability of 427 km and allows them to charge up to 80% battery level within 26 minutes. The model provides all-wheel drive together with higher ground clearance for better off-road performance and optional 18-inch tires specifically for off-road use. In January 2025, Tesla launched its latest Model Y vehicle in markets across the United States and Canada. Tesla's Model Y Launch Series will start deliveries in March 2025 priced at USD 59,990 before options. In December 2024, Volkswagen introduced the ID.4 Pure model which combines a 170 hp engine with a 55-kWh battery to deliver 363 km of driving range. Users can charge the model with 11 kW AC power in roughly 4.5 hours and with 115 kW DC power in about 25 minutes. It is priced starting at EUR 30,800. In May 2024, the electric vehicle manufacturer Lohia Auto launched their Humsafar IAQ model which is a three-wheeled vehicle designed specifically for short-distance travel and last-mile connectivity. As the vehicle achieves 185 km range on a full charge it reaches a maximum speed of 48 km/h and accommodates one driver and four passengers. This vehicle utilizes a swappable 7.6 kW battery and offers an optional fixed 10.7 kW battery while incorporating an IP67-rated motor and 4.5R10, 8 PR Sheet Metal Rims. In April 2024, the e-mobility company NexGen Energia from Noida, India introduced an electric two-wheeler with affordable pricing. This development represents an important advancement in making electric vehicles more accessible and affordable to a larger population. In November 2023, Alexander Dennis which operates under NFI Group Inc. introduced new battery-electric buses specifically for markets in the UK and Ireland. Alexander Dennis introduced two battery-electric buses for the UK and Ireland: The Enviro100EV as a compact bus model and the Enviro400EV as a double-decker bus that demonstrate improved performance which supports zero-emission public transportation objectives. In August 2023, the producer of the compact Solo electric vehicle ElectraMeccanica declared a merger with Tevva which manufactures electric trucks in the UK. Through this strategic partnership Tevva will strengthen its market position in electric trucks while expanding operations across the UK, Europe, and the US by using ElectraMeccanica's Arizona manufacturing facilities to increase truck production. Conclusion: The electric vehicle industry faces substantial changes through technology advancements along with environmental regulations and evolving consumer tastes. The electric vehicle sector experiences rapid growth as tighter global emission standards and rising sustainable transportation requirements lead to increased investments in battery technology and charging infrastructure along with smart mobility solutions. The fusion of renewable energy systems and vehicle-to-grid technologies transforms energy networks while autonomous driving and connected vehicle systems introduce innovative changes to the industry. Long-term resilience and sustainability depend on supply chain localization together with critical mineral sourcing and circular economy practices. The electric vehicle market leads the future mobility revolution while the convergence of government policies with industrial and consumer electrification goals requires ongoing innovation and sector collaboration. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: The report from The Research Insights, therefore, provides several stakeholders—including consumers, fleet operators, automakers, battery manufacturers, raw material suppliers, component suppliers, charging infrastructure providers, utility companies, national and local governments, regulatory bodies, investors, financial institutions, environmental advocacy groups, research institutions, universities, and software and technology providers—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 3,760.9 billion by 2034, the Global Electric Vehicle Market represents a significant opportunity for automakers, battery manufacturers, charging infrastructure providers, utilities and energy companies, raw material suppliers, and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape. Related Report Titles: Electric Vehicle Range Extender Market Sze, Share & Trends Analysis Report Engineered Polymers In Electric Vehicles Market Size, Share & Trends Analysis Report Electric Vehicle Charging Cables Market Size, Share & Trends Analysis Report Electric Vehicle Adhesives Market Size, Share & Trends Analysis Report Metals In Electric Vehicle Charging Infrastructure Market Size, Share & Trends Analysis Report About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. The key to our success is keeping abreast with the markets, industries, and ever-changing consumer trends that matter. Our market research professionals have in-depth knowledge and expertise across various domains that includes IT and Telecom, Emerging Technologies, Consumer Offerings, Manufacturing and Others. We are committed to reviewing the scope and procedure of the research studies that you select and provide you with an accurate guidance in order to assist you in taking the correct business decisions. Contact Us:If you have any queries about this report or if you would like further information, please contact us: Contact Person: Kaushik RoyE-mail: sales@ +1 312-313-8080Website: Logo: View original content: SOURCE The Research Insights Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
22-04-2025
- Automotive
- Business Wire
Geely Galaxy E5 Surpasses Global Safety Standards with Record 50km/h Crash Test
HANGZHOU, China--(BUSINESS WIRE)--On April 16, at the TECCON Laboratory in Austria, an institution accredited by Euro NCAP, the Geely Galaxy E5 successfully completed an "ultra-rigorous" 50km/h frontal center pole impact test. Previously, the Geely Galaxy E5 had already earned the highest safety ratings of "Five Stars" from both Euro NCAP and ANCAP, reaffirming that under the protection of the Shendun Battery Safety System, Geely Galaxy products deliver "safety for global users, five-star quality for global users." Currently, there are no mandatory regulations for frontal center pole impact tests worldwide, and the industry typically adopts a 35km/h testing standard. Geely Galaxy E5 opted for a far more rigorous 50km/h test, where impact energy is 104% higher. The final test results demonstrated that the E5 met all requirements across various dimensions including functional performance, body structure, new energy source safety, and occupant protection after the 50km/h frontal center pole impact, marking the test a complete success. Additionally, the vehicle's airbags deployed correctly, contact between the airbags and the dummies' heads was normal, seatbelts pre-tensioned as expected, and injury values for all body parts of the two dummies met or exceeded the thresholds for full scores in Euro NCAP's rigid wall impact scenarios. The Geely Galaxy E5's "beyond-standard" safety performance is largely attributed to the Shendun Battery Safety System. Since its launch in 2023, Geely Galaxy has conducted a series of public tests covering cell-level, battery pack-level, and full-vehicle-level evaluations of the Shendun Battery Safety System through models like the E5, L6, L7, and E8. Each ultra-rigorous safety test has been passed with flying colors, far exceeding industry standards, and has delivered high-standard, high-performance experiences of "equality in safety" to consumers across mainstream NEV segments. Over nearly three decades of automotive manufacturing, Geely has consistently adhered to a "safety-first" development strategy. In the past decade alone, Geely's R&D investment has exceeded RMB 200 billion, gradually establishing an industry-leading safety development system. As a leader in automotive safety, Geely is set to release a white paper this year focusing on comprehensive all-domain safety standards for smart vehicles. This initiative aims to redefine the benchmarks for smart vehicle safety, openly sharing cutting-edge safety technology advancements, and ensuring the utmost safety for every user's journey.
Associated Press
22-04-2025
- Automotive
- Associated Press
Geely Galaxy E5 Surpasses Global Safety Standards with Record 50km/h Crash Test
HANGZHOU, China--(BUSINESS WIRE)--Apr 22, 2025-- On April 16, at the TECCON Laboratory in Austria, an institution accredited by Euro NCAP, the Geely Galaxy E5 successfully completed an 'ultra-rigorous' 50km/h frontal center pole impact test. Previously, the Geely Galaxy E5 had already earned the highest safety ratings of 'Five Stars' from both Euro NCAP and ANCAP, reaffirming that under the protection of the Shendun Battery Safety System, Geely Galaxy products deliver 'safety for global users, five-star quality for global users.' Currently, there are no mandatory regulations for frontal center pole impact tests worldwide, and the industry typically adopts a 35km/h testing standard. Geely Galaxy E5 opted for a far more rigorous 50km/h test, where impact energy is 104% higher. The final test results demonstrated that the E5 met all requirements across various dimensions including functional performance, body structure, new energy source safety, and occupant protection after the 50km/h frontal center pole impact, marking the test a complete success. Additionally, the vehicle's airbags deployed correctly, contact between the airbags and the dummies' heads was normal, seatbelts pre-tensioned as expected, and injury values for all body parts of the two dummies met or exceeded the thresholds for full scores in Euro NCAP's rigid wall impact scenarios. The Geely Galaxy E5's 'beyond-standard' safety performance is largely attributed to the Shendun Battery Safety System. Since its launch in 2023, Geely Galaxy has conducted a series of public tests covering cell-level, battery pack-level, and full-vehicle-level evaluations of the Shendun Battery Safety System through models like the E5, L6, L7, and E8. Each ultra-rigorous safety test has been passed with flying colors, far exceeding industry standards, and has delivered high-standard, high-performance experiences of 'equality in safety' to consumers across mainstream NEV segments. Over nearly three decades of automotive manufacturing, Geely has consistently adhered to a 'safety-first' development strategy. In the past decade alone, Geely's R&D investment has exceeded RMB 200 billion, gradually establishing an industry-leading safety development system. As a leader in automotive safety, Geely is set to release a white paper this year focusing on comprehensive all-domain safety standards for smart vehicles. This initiative aims to redefine the benchmarks for smart vehicle safety, openly sharing cutting-edge safety technology advancements, and ensuring the utmost safety for every user's journey. View source version on CONTACT: Mengjia Lv [email protected] KEYWORD: AUSTRIA CHINA EUROPE ASIA PACIFIC INDUSTRY KEYWORD: AUTOMOTIVE AUTOMOTIVE MANUFACTURING TECHNOLOGY EV/ELECTRIC VEHICLES MANUFACTURING BATTERIES SOURCE: Geely Copyright Business Wire 2025. PUB: 04/22/2025 04:50 AM/DISC: 04/22/2025 04:49 AM
