Geely’s RADAR sets up first overseas subsidiary in Thailand

Shanghai (Gasgoo)- On July 9, RADAR, a high-end new energy outdoors lifestyle vehicle brand under Geely Holding, announced the establishment of its first overseas subsidiary in Thailand, marking the Thai market as its first independently operated overseas market.

Recently, RADAR has been actively expanding its presence in the Thai market. First, the Thai Deputy Prime Minister met with RADAR's CEO Mr. Ling Shiquan and his team. Following this, RADAR announced that its key products would be displayed at the 41st Thailand International Motor Expo under the new brand name RIDDARA. The recent announcement of setting up a subsidiary in Thailand further highlights RADAR's strong commitment to the Thai market.

As a significant economic entity in Southeast Asia and ASEAN, Thailand boasts a rich history of pickup truck culture and a favorable market environment. Pickup trucks account for over 40% of the vehicle market in Thailand, making it the top-selling vehicle category, far surpassing SUVs and sedans.

Thailand's new energy vehicle (NEV) industry is also experiencing rapid growth. Research indicates that in 2023, battery electric vehicle (BEV) sales in Thailand reached 68,000 units, a year-on-year spike of 405%. This boosted the share of BEVs in Thailand's total vehicle sales from 1% in 2022 to 8.6%. It is projected that BEV sales will reach 85,000 units to 100,000 units in 2024, with market share rising to 10-12%. Recently, Thailand announced a series of new initiatives for 2024-2027 to support the development of its NEV industry, aiming to expand the industry scale, enhance local production capabilities, and accelerate the electrification of the Thai automotive industry.

As a brand focusing on the new energy pickup sector, RADAR sees great potential in Thailand's EV market. Both RADAR and Thailand share a common goal of pursuing clean energy and zero-carbon environmental protection.

Technologically and systematically, RADAR's entry presents a significant opportunity for upgrading Thailand's pickup industry. As a pioneer in China's new energy pickup market, RADAR, backed by Geely Holding Group, has developed the country's first native pure electric pickup platform—the M.A.P Radar Hanhai platform.

The M.A.P Radar Hanhai platform integrates leading pickup and advanced new energy passenger car technologies, serving as a product platform, technology platform, and diverse outdoor ecosystem platform, said RADAR. This platform is the cornerstone of RADAR's outdoor ecosystem and has offered such models as the RADAR Horizon (named “Dipingxian” in Chinese Pinyin) and the RADAR RD6.

Moving forward, the Thai subsidiary of RADAR will independently operate the new RIDDARA brand, using the ASEAN region as a springboard to establish a comprehensive service network and develop right-hand drive markets across ASEAN and the Pacific region.