The global automotive industry is undergoing an important transitional period today as it enters a new era. This new era not only redefines the vehicles that we make by shifting focus to new energy solutions, but also scrutinizes how we conduct our business as partnerships and collaborations take centre stage. Geely Auto is still committed to its brand mission of ‘Making Refined Cars for Everyone’, which has led us to become China’s leading privately-owned automotive brand. However, our vision for the future is not just to be China’s leading brand, but to become the most competitive and respected Chinese auto brand in the world. With that in mind and the evolving global conditions, Geely Auto has to embrace the changes that are happening all around us and always keep one foot forward if we are ever to make our vision a reality.
We have developed a number of key new strategies in the past few years that will help us take this leap forward and shall continue to monitor the progress they have made. In late 2016, Geely Auto unveiled its “20200 Strategy”; from 2020 onwards, we will sell 2 million vehicles annually, bring 30 new cars to the market and dramatically expand the brand’s dealership network across to over 1,000 stores in China and over 500 globally. However, our ambition stretches further than just achieving high volume of sales as the dawn of new energy vehicles approaches. In 2015, Geely announced its “Blue Geely Initiative” with a promise that 90% of the brand’s sales would come from new energy vehicles and that consumers would be able to purchase hybrids at the price of traditional models from 2020 and beyond. This initiative also helped us to commit to reaching the new China national average fuel economy standards of 5.0L/100 KM long before the 2020 deadline. Following through on that promise and together with Geely’s iNTEC brand of technologies, Geely has recently announced “Geely Intelligent Power”, a diversified new energy strategy that follows four main technological pathways to making Geely the global leader in new energy; hybrid, pure electric, alternative fuel and fuel cell technologies.
Over the past decade, we have quietly and gradually developed our industrial layout and accumulated experience in order to achieve real change, by transforming and leading the world in new energy. Geely follows an expanded and pragmatic new energy development strategy that places importance on real substance rather than hype. To achieve our goals, we have invested far and above the industry average in R&D, with the establishment of four global R&D centres. We also employ 2,500 world-class new energy researchers, created an innovative new energy R&D system, developed new vehicles architecture technology and have received hundreds of patents for core technologies.
The result of our hard work and efforts can be seen with the launch of the new Bo Rui GE, which incorporates the world’s most efficient mild hybrid and plug-in hybrid systems. The mild hybrid version of the vehicle is the first mass-produced mild-hybrid B-segment sedan in China with a combined power of 142kW and 300nm torque. The plug-in version on the other hand comes with a combined maximum power of 192kW, maximum torque of 425nm and maximum pure electric range of 60KMs. All of these models are equipped with a 7DCTH transmission jointly developed by Geely and Volvo that improves fuel economy by an astronomical 42.4% and improve power by 24%.
In the field of pure electric vehicles, the recently released Emgrand EV 450 has a globally leading range of 450KMs on a single charge and by 2020, we will release several new pure electric models capable of going over 500KMs. The efficiency of our Emgrand EV 450 can also be seen utilized by Cao Cao, China’s first new energy ride hailing platform operated by Geely’s battery electric models that have travelled over a hundred million kilometres throughout China. For methanol vehicles, Geely is one of the first to develop production models. After 12 years of research, we have developed four methanol engines, 14 methanol models and have received nearly 100 patents. By 2025, we are set at launching Geely’s first hydrogen fuel cell model.
Geely Auto Group and our parent group, Zhejiang Geely Holding Group, is now in a new global stage of development. We are expanding our business in creating a varied portfolio of automotive brands from all over the world to serve the Chinese domestic and export markets with fuel-efficient, reliable, safe and technologically high-value models. In 2017, our parent group entered into a strategic partnership with Malaysia’s DRB-HICOM to bring the country’s national car, PROTON, and the iconic British sports card brand, Lotus, into our family. As one of the first steps in reviving PROTON, Geely Auto’s best-selling SUV, the Bo Yue, will be re-engineered for the right-hand drive market in Malaysia and South East Asia. This will be the stepping stone as Geely takes PROTON from its current position to the number one Malaysian car brand within three years and eventually, one of the top three car brands in South East Asia within the next ten years.
In the future, we shall continue to refine our products, not only to everyone in China but beyond, as we Take Geely to the World.