Geely Adopts “Gigapress” Method
Geely, the Chinese parent company of EV brand Zeekr, is turning to the “gigapress” manufacturing method, following in the footsteps of Tesla and other automakers looking to reduce costs and streamline production. The gigapress technique involves using massive aluminium die casts to create large underbody sections of electric vehicles, cutting the need for welding and improving the overall structure of the car. Zeekr’s first use of the technology is in its Zeekr 009 six-seat, multi-purpose van, which went on sale in China this year. According to Zeekr’s manufacturing technology chief, Jiang Kehong, the company will use giga-casting technology on more models in the future.
Other automakers that have turned to large die casting include General Motors and Volvo Cars. Toyota is also said to be considering the technology for EV production. The use of heavy casting machines, which can produce body sections in single pieces, has helped simplify manufacturing and cut costs by up to 40% in some areas, according to Riccardo Ferrario, general manager of IDRA, the Italian company behind the presses.
However, there is a risk with giga-casting that damaged body sections could be harder to repair. To address this issue, some automakers are embracing what engineers describe as smaller-scale giga-castings, dividing vehicle bodies into smaller castings to make repairs easier. Zeekr will be able to change select parts of the larger die cast section in the event of a collision, rather than replacing the whole thing.
Despite these concerns, the trend towards gigapress manufacturing is expected to continue as automakers seek ways to reduce costs and make their electric vehicles more competitive. With EVs expected to account for an increasing share of the global car market in the coming years, manufacturers are looking for ways to boost efficiency and reduce manufacturing costs to make EVs more affordable for consumers. The use of gigapresses could help to achieve this, while also improving the overall quality and safety of electric vehicles.
GELYY Stock Forecast & Analysis
Stock Target Advisor’s analysis of Geely Automobile Holdings Ltd ADR indicates a bearish outlook based on 12 negative signals and only 5 positive signals. Geely’s stock price was last recorded at USD 24.66, with a -2.84% change over the past week, a -2.61% change over the past month, and a -11.04% change over the past year.
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