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| Geely launches an electric truck called Homtruck |
China's Geely launched a new electric truck on Monday as automakers hope to bring new technologies to the commercial vehicle market.
Geely Commercial Vehicle Group Farizon Auto plans to launch the new home truck in 2024 and target the international market.
The product is designed and developed to meet the global market, and the company's new cars are heading to Europe, South Korea, Japan and North America.
The launch of Geely Homtruck coincides with the announcement of several automakers, from Mercedes owner Daimler to BYD, backed by Warren Buffett and other automakers, who have announced the launch of their own electric trucks.
Tesla announced the launch of its own truck called Semi in 2017, which delayed production of the truck for some time.
Homtruck offers a variety of power options, including methanol hybrid and pure electric.
Geely has invested in methanol batteries for many years and some of its models now have this performance option.
Batteries from Homtruck are also replaceable and do not need to be charged. The company said that the interior design includes a shower room, toilet, single bed, refrigerator, kitchenette and a small washing machine.
Homtruck is designed for self-driving. According to the company, the truck has semi-autonomous driving functions.
When driving long distances, the trucks can communicate with each other to maintain a safe speed and distance.
Geely launches electric trucks to compete with Tesla
The company plans to introduce autonomous driving in three phases. By 2023, the company hopes to have autonomous driving capabilities with more advanced systems by 2026, and plans to achieve fully autonomous driving by 2030.
Auto manufacturers are also facing rising raw material prices and a global shortage of semiconductors. Automakers are keeping an eye on the price of lithium, which has hit record levels this year.
An October 29 report also said battery manufacturers are beginning to pass on these price increases to automakers, which could have a significant impact on electric vehicles coming to market from 2022 to 2024.
Geely said higher commodity prices are affecting the company's production and profit margins as automakers face increasing price pressures. She described the rise in commodity prices as a matter of time and gradually decreased.
A global shortage of chips is restricting the company's production. But the supply problem is gradually being solved.
These companies are considering alternative chip solutions. Thus, these two parts work together to alleviate the lack of chips.