Tag Archives: Geely

News

EU reduced tariffs on vehicles produced in China

Last year, the European Commission launched an investigation into the privileged position of electric vehicles produced in China due to subsidies. This resulted in the introduction of additional tariffs on vehicles manufactured in China (37.6%), and manufacturers that cooperated during the investigation paid lower tariffs (20.8%). However, the EU decided to reduce tariffs on some car manufacturers like Tesla from 20.8% to just 9%.

After reviewing the business report for July, it was determined that Tesla received less government aid than other firms that make cars in China, so the EU agreed to reduce the tariff. However, this did not mean that the tariff would be removed completely as the company was found to still be getting batteries below market value, which is one of the ways car manufacturers receive help from China. Other ways to help are cheap land, grants and loans at lower rates. This still gives them an advantage over cars made by companies in other parts of the world.

Also, some other car manufacturers will now pay lower tariffs, such as the British brand Mini. Although the company refused to cooperate in the investigation, the EU still decided to reduce tariffs on their vehicles from 37.6% to 21.3%. The tariff was also reduced on the vehicles of some Chinese companies: BYD (17.4 to 17 percent), Geely (19.9 to 19.3 percent), and SAIC (37.6 percent to 36.6 percent).

Source: Reuters

News

Geely developed a battery that can ensure driving of one million kilometers

Zhejiang Geely Holding Group, commonly known as Geely Holding, has produced a battery that can ensure driving of one million kilometers with minimal impact on range, and retains more than 90 percent of its capacity at temperatures below -30 degrees Celsius. It is an LFP (lithium-iron-phosphate) battery with a density of 192 Wh/kg.

The new battery charges faster and takes 17 minutes and 4 seconds to charge from 10 to 80 percent. It also manages to retain 90.54 percent of its capacity at a temperature of -30 degrees Celsius, and can be charged up to 3,500 times. The secret is in its construction. It contains doped electrode materials in its composition in order to reduce the speed of the internal chemical reaction.

Geely tested the battery with a large number of tests, including the extreme ones. They pierced the battery with eight 5 mm steel needles and left it in that condition for an hour. Next, a 5.8 mm round was fired into the battery and failed to ignite it. After that, it was submerged in seawater, thrown into a fire, and even run over with a 26-ton roller. None of the tests caused significant damage.

This would definitely be a revolution in the development of batteries, and the company did not announce when production would start.

Source: Geely

News

Geely took over Polestar from Volvo

In 2017, Volvo jointly with the Chinese company Zhejiang Geely Holding Group founded Polestar, a brand of electric cars. Six years later, the Swedish manufacturer announced that it was selling its share to a Chinese company, as it failed to establish itself in the electric car segment.

Although Volvo will no longer fund Polestar, the two brands will continue to collaborate on development and research, production and after-sales services. At the same time, Thomas Ingenlath, the head of Polestar, expressed his enthusiasm for the idea of Geely becoming the new majority and direct shareholder of this young company. The decision had a positive reaction from Volvo brand investors. After that, Volvo shares rose 40 percent.

All models launched by Polestar are based on Volvo technology. An example is Polestar 2, the first battery electric vehicle and mass production Polestar vehicle in the Volvo Car Group, premiered in 2020. It is offered in combination with one or two electric motors. The base version is powered by a single electric motor with 224 hp (165 kW) and 243 lb-ft (330 Nm). It is equipped with a 64 kWh battery pack that enables a range of up to 440 kilometers (WLTP). The most powerful version is powered by two electric motors with 408 hp (300 kW) and 487 lb-ft (660 Nm). It is equipped with a 78 kWh battery pack that enables a range of up to 480 kilometers. It also has AWD.

When it comes to future models, the Polestar 3 entered production at the end of last year, the Polestar 4 crossover coupe will arrive in 2024, while the Polestar 5 luxury sedan is expected to arrive in 2025.

Source: Volvo