Geely Automobile Holdings Ltd. (OTCPK: GELYY), on Thursday, officially launched the Geely Galaxy, an array of premium electric and hybrid vehicle series, in Hangzhou, China.
What happened: At a flagship event, the Chinese carmaker unveiled the first car from the Geely Galaxy range — the Galaxy L7 long-range PHEV SUV — and also a fully electric concept model, named Galaxy Light.
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Geely’s Galaxy products include long range plugin hybrids and pure electric vehicles. This new collection is likely to have seven new vehicle models in the next two years, stated a company statement. Of those, four will be long-range hybrid electric models and three models will be under the pure galaxy E range, with the first Galaxy E8 scheduled for delivery in the fourth quarter of 2023.
The vehicles have the new Galaxy N-Operating System and are powered with Geely Holding Group’s satellite network for intelligent driving functionality along with a high-precision mapping tool.
The new features are in line with legacy automaker Mercedes Benz Group AG (OTC:MBGAF), which, on Wednesday announced a long-term strategic partnership with Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google to build its own branded navigation experience.
Why It’s Important: The new line of electric cars are up against Tesla Inc. (NASDAQ:TSLA) and BYD Manufacturing Company Limited‘s (OTC:BYDDY) (OTC:BYDDF) electric vehicles.
Geely already has a slew of electric vehicle brands with Zeekr being the most popular.
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