Chinese automaker Geely Automobile Holdings Limited has announced the launch of a new brand, Geely Galaxy, to target the mid-to-high-end new energy vehicle (NEV) market. The company will hold a launch event on February 23 to unveil the brand’s strategy and its first product.
The first model of Geely Galaxy is expected to be a sedan with an imagination-breaking smart ecology and an extremely low wind resistance coefficient, as teased in several images. Geely has become the latest auto giant to launch a new NEV brand after BYD’s Yangwang brand, which debuted in January.
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The name of Geely’s new brand, “吉利银河” or “Geely Galaxy,” was officially confirmed by the company. The English name for the brand has not been announced yet. The name “Galaxy” was chosen to evoke the starry sky that everyone looks up to, as stated in a poster released by the company. Interestingly, BYD’s premium brand, Yangwang, which launched last month, also has a name that means “to look up.”
Geely Galaxy is positioned as a mid-to-high-end brand and is expected to target the RMB 200,000 to 500,000 price range. The launch of this new brand is part of Geely’s goal of achieving sales this year. The company’s CEO, Gan Jiayue, said that Geely will launch a mid-to-high-end NEV lineup and several new products, including high-mileage PHEVs and pure electric models, within three years. Geely’s sales target for 2023 is 1.65 million units, with a target of 600,000 NEVs.
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In 2022, Geely Automobile Group sold 1.43 million vehicles, including 262,253 pure electric vehicles and 66,474 plug-in hybrids. With the launch of the Geely Galaxy, the company aims to expand its presence in the NEV market and increase its sales in 2023.
