Geely’s pickup truck brand Riddara has just established its first overseas subsidiary in Thailand on Tuesday, and it is seeking to expand in the ASEAN region.
Riddara sets up a Thai subsidiary
According to CarNewsChina, Chinese automaker Geely sees Thailand as a crucial market for Riddara’s global expansion efforts and its electric pickup truck sales.
This optimism is no longer surprising, considering that pickup truck sales accounted for over 40% of the country’s overall vehicle market, far outmatching SUVs and sedans.
The new Thai unit will autonomously run the brand, leveraging the local market as a foundation to establish a right-hand drive market throughout the ASEAN and Pacific regions.
Geely’s Riddara RD6
As of today, Riddara only sells the RD6 pickup truck. It offers two variants, including the two-wheel drive Scion and the four-wheel drive Horizon.
The Riddara RD6 rides on the Multiplex Attached Platform (MAP), which apparently emanates from Geely’s popular Sustainable Experience Architecture (SEA). Unlike most competitors’ body-on-frame type truck structures, the model utilizes a monocoque design.
The 2WD Scion variant is expected to hit the Thai market first. For reference, battery pack options in China include 63, 73 and 86 kWh. Depending on the battery configuration, driving ranges vary between 415 and 560 km.
The Scion sports a 200 kW electric motor on the rear axle, while the 4WD Horizon has an extra 115 kW motor on the front axle.
Geely Bets on Thailand
Thailand’s electric vehicle sales have surged rapidly, achieving a total of 68,000 units in 2023. This figure reportedly indicates a whopping 405% year-on-year increase from 2022 results.
For context, EVs only contributed approximately 1% of Thailand’s automotive market in 2022. Impressively, they managed to hit an 8.6% share in 2023.
Current estimates suggest that EV sales in the country will reach 85,000-100,000 in 2024, equating to a 10%-12% market share.
Considering this remarkable growth, Geely is now betting on the Thai market to aid its global expansion initiative. In China, Riddara controls a 60% share of the new energy vehicle pickup truck segment.
Geely expects to replicate Riddara’s Chinese success to Thailand with the launch of its local subsidiary. It plans to leverage its multi-platform technology to adhere to local demand in Thailand.
