Geely’s Pickup Truck Brand Radar Eyes Potential IPO
Radar, a pure electric pickup truck brand owned by Geely, launched its first mass-production model, the RD6, on November 9, and said that it will enter overseas markets next year while selecting the appropriate time for an IPO.
Wang Daxue, CFO of Radar, said that the penetration rate of new energy commercial vehicles is far lower than that of passenger cars, and that there is more space for investment and financing. The brand was officially released on July 12, 2022, developed in parallel with Lynk & Co, Geometry and Zeekr under Chinese automotive giant Geely. Zeekr has already been prepared for an independent listing.
The newly introduced RADAR RD6 model has a length, width and height of 5,260 x 1,900 x 1,830 mm, with a wheelbase of 3,120 mm. The size of the rear cargo compartment reaches 1,525 x 1,459 x 540 mm, the front compartment volume reaches 70 L, and there is 48 L of space to place items in the rear seat.
The RADAR RD6 is available in four versions with cruising ranges of 400 km, 550 km and 632 km, and price range of 178,800 yuan to 268,800 yuan. This model is based on the pure electric pickup platform named M.A.P, equipped with a driving motor with a maximum power of 200kW, and a 0-100km/h acceleration time of 6 seconds. Its 100kWh battery pack supports 120kW fast charging from 30% to 80% within 30 minutes.
The RADAR RD6 is equipped with a 12.3-inch LCD meter, a central control panel, and a 9-inch head-up display. Its L2-level driving assistance system is equipped with six lidars and five cameras. The surrounding road conditions displayed by the system can be clearly seen on instruments and head-up display. Driving assistance functions include intelligent pilot, rear collision warning, rear cross traffic alert, automatic emergency braking and so on.
In order to enable users to immerse themselves in the diversified functions of the RD6, seven themed experience areas were specially set up at the conference, including camping, surfing, cycling, fishing, livestreaming, coffee and mobile restaurants, attracting many on-site guests.
In the future, Radar plans to launch no less than five models, including medium-sized pure electric pickups, medium-sized and large-sized new energy pickups, full-size pure electric pickups, full-size new energy off-road vehicles, pure electric all-terrain vehicles and others. RADAR will also launch a sub-brand named RADAR Weekend to focus on outdoor lifestyle.
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According to data from the China Passenger Car Association, in September this year, 44,000 Chinese pickups were sold, and the top five pickup manufacturers sold about 35,500 vehicles, accounting for nearly 81%. The market is still occupied by fuel-powered pickups.