Geely 7X at 52.99 million won? Confusion over pricing… “Is this the final selling price?”

*This content was translated by AI.

Geely, the premium maker of Chinese automaker Geely Automobile, has been embroiled in pricing controversy even before the launch of the 7X as it prepares to enter the Korean market. On the 30th, prices were announced and then deleted, and an online pre-registration appeared only to be cancelled, creating a series of mishaps.

On the 30th, a price list for the Geely 7X, set for domestic launch, was exposed on the Geely Korea website. The listed prices by trim are: 75kWh rear-wheel drive (RWD) Pro at 52.99 million won, 100kWh RWD Max at 59.99 million won, and 100kWh all-wheel drive (AWD) Ultra at 69.99 million won. With all convenience features included, so-called “fully optioned” models could see prices rise to around 80 million won. This is far from the “cost-performance” that the public expects from Chinese-made vehicles. Instead, it aligns more closely with the premium positioning that Geely has consistently promoted.

In fact, although the Geely 7X has not yet been officially unveiled in Korea, it can be evaluated as having sufficient elements of a luxury vehicle, given its mid-size SUV body length of 4,825mm, materials and convenience features, and driving range (483 km on a single charge). Especially when viewing the various models displayed at the Geely brand house opened last month in Seoul Gangnam, it was evident that it was equipped with diverse high-end elements.

The problem is that this pricing website was shut down the following day. According to a Geely Korea public relations officer, “This website is not the official Geely Korea site authorized to disclose prices; it was an internal site containing draft data, and the exposure via an indirect route was merely a misunderstandingmistakenly treated as ‘official pricing’.” The officer further added, “It cannot be called official pricing. We will not sell at these prices, and there is a 50-50 chance they will be adjusted.” Geely Korea also stated, “Considering the unusually negative consumer reaction immediately after the disclosure, it is highly likely that these prices will be reflected in the final price adjustment.”

The automotive industry anticipates that this pricing controversy will likely resurface once Geely Korea officially announces the final price, as the situation is entirely different from the “cost-performance” expected of Chinese vehicles. Looking at online communities, there is a clear psychological resistance line: consumers hope the Geely 7X will not exceed the prices of the Tesla Model Y or Polestar 4.

There is a separate reason why domestic consumers have formed expectations about the pricing. It resulted from potential buyers estimating the selling price range by approximating prices based on local Chinese pricing and specification adjustments. However, Geely Korea maintains that “the situation in China and Korea is entirely different, making it difficult to estimate domestic selling prices based on Chinese prices.” Additionally, the exclusion of high-cost convenience equipment such as LiDAR, a core component of autonomous driving, and refrigerators is cited as a factor that lowered expectations regarding pricing.

Following the pricing controversy, there were also reports of some Geely Korea dealerships starting online pre-registrations only to shut down their websites immediately, similar to the official price disclosure. Regarding this, a Geely Korea public relations officer denied, “There was no case of starting pre-registrations. No official or internal pre-registration schedule has been set.”

The Geely Korea 7X is expected to be officially launched in Korea around July. As the official launch approaches, the phenomenon of various interests piling up on the verge of launch is, from Geely Korea’s perspective, actually a positive development. However, if confusion arises in the information available to consumers for making purchase decisions, it could lead to the opposite outcome.

Meanwhile, the Geely 7X is scheduled to begin formal deliveries starting in August after completing procedures such as the confirmation of electric vehicle purchase subsidies. Considering the battery and specifications, government and local government subsidies are expected to be around 2 million won at most.

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*This content was translated by AI.