Geely’s Radar Electric Pickup Brand Launches First Overseas Subsidiary in Thailand
Radar’s products will be launched in Thailand under the new brand name Riddara and will debut at the 41st Thailand International Auto Show in November.
Geely‘s Radar Auto Expands Overseas with New Subsidiary in Thailand
Geely’s electric pickup truck brand, Radar Auto, has established its first overseas subsidiary in Thailand. This strategic move aims to tap into the growing demand for pickup trucks in international markets.
Radar announced on July 9 the opening of its subsidiary in Thailand, marking its first independently operated market outside China.
The new brand, Riddara, will present its products at the 41st Thailand International Auto Show in November, according to the company’s statement.
Thailand: A Key Market in Southeast Asia
Thailand holds a significant position in the Southeast Asia and ASEAN automotive markets, with pickup trucks making up over 40 percent of local vehicle sales, surpassing both SUVs and sedans, as noted by Radar.
The electric vehicle (EV) market in Thailand is also expanding rapidly. In 2023, battery electric vehicle (BEV) sales reached 68,000 units, a 405 percent increase year-on-year, boosting BEV market share from 1 percent in 2022 to 8.6 percent in 2023.
Radar projects that BEV sales in Thailand will rise to between 85,000 and 100,000 units in 2024, further increasing market share to 10-12 percent.
Radar’s Journey and Market Performance
Geely officially launched the Radar brand on July 12, 2022, along with its first model, the RD6 electric pickup truck. The RD6 entered the Chinese market in November 2022, with initial deliveries the same month.
Radar operates as an independent brand with its own research and development facility in Hangzhou, Zhejiang province, and a production plant in Zibo, Shandong province.
On November 21, 2023, Radar introduced the Radar RD6 at the opening of its first flagship store in Vientiane, Laos, marking its entry into the international market.
In October 2023, the RD6 captured a 70.8 percent share of China’s new energy pickup truck market, maintaining a 60.7 percent market share from January to October 2023.
Challenges in the Chinese Market
Pickup truck sales in China remain low due to stringent policy restrictions. On highways, pickup trucks are limited to the rightmost lane and a maximum speed of 100 kilometers per hour, whereas regular passenger cars can travel up to 120 kilometers per hour. Furthermore, pickup trucks in China must be retired after 15 years of use.
Many Chinese cities restrict pickup trucks from entering urban areas, although these regulations have been gradually relaxed in recent years.
In May, China sold 45,000 pickup trucks, a moderate to high level over the past five years, according to a June 27 report by the China Passenger Car Association (CPCA). In comparison, retail sales of passenger cars, including sedans, SUVs, and MPVs, totaled 1,711,265 units in the same month.