As reported by the Chinese publication The Financial Associated Press, Geely is looking to create another spin-off brand from its Geely Commercial Vehicle division that will create premium electric commercial vehicles.
The commercial sub-brand has yet to be named or confirmed by Geely and is currently in the “internal incubation” phase.
The sub-brand’s goal is reportedly to compare US automaker start-up Rivian, which recently received a market valuation of $ 100 billion ($ 136.3 billion).
It will reportedly reveal an electric vehicle (EV) by the second half of 2022.
Geely is unfamiliar with electric commercial vehicles with its Farizon Auto sub-brand which recently revealed an electric semi-trailer concept called Homtruck which is slated for launch in 2024.
The Chinese conglomerate also owns the London Electric Vehicle Company (LEVC), which produces an electrified version of the iconic London taxi, as well as commercial vans and electric motorhomes.
His TX taxi and VN5 commercial van are both equipped with a 1.5-liter petrol engine for when the battery runs out.
Zhejiang Geely Holding Group, better known as Geely, currently has brands such as Volvo, Polestar, Proton, Lotus, Smart and Lynk & Co, among others, in its portfolio.
Its newer sub-brand, Zeekr, is a premium electric vehicle brand that uses Geely’s modular system Architecture of sustainable experience (SEA) which is capable of single, twin or triple engine configurations as well as range extender options.
SEA will support over-the-air updates and autonomous driving technology and will require a maximum range of over 700km using the most forgiving NEDC standard.
Geely has some ambitious goals for the next four years, which he outlined in his “Smart Geely 2025 Strategy” roadmap.
One of these goals is to increase the annual sales of the Geely Auto Group, Lynk & Co, Geometry and Zeekr brands to 3.65 million units.
It is also expanding its reach into other markets, including the introduction of the Lynk & Co youth-oriented brand in markets such as Australia, New Zealand, Russia and Malaysia by 2025.
Something that is Geely’s intention to have 5000 battery change stations has already been detailed across China by 2025.
Known as E-Energee, the battery replacement service revealed at the 2021 Wuzhen Internet Conference allows electric vehicle owners to replace their existing battery with a new one in 59 seconds.