(Yicai) Jan. 9 -- China's Geely Holding Group has incorporated car brands Radar and London Electric Vehicle Company into its listed subsidiary Geely Automobile Holdings, achieving full coverage across sedans, sport utility vehicles, multi-purpose vehicles, off-road vehicles, and pickup trucks, Geely Auto Chief Executive Gan Jiayue announced at a recent company meeting.

The integration aims to create two major automotive business entities -- Geely Auto and Zeekr Intelligent Technology, Geely Holding President An Conghui said at the same meeting. Geely Auto will target the mainstream market while Zeekr will focus on high-end EVs. The newly integrated Radar produces electric pickups and adventure-focused EVs, while LEVC specializes in electric taxis.

This restructuring follows the conglomerate's announcement last September to reorganize its automotive group. In subsequent months, premium EV maker Zeekr reportedly took control of sister brand Lynk & Co, while EV brand Geely Geometry merged with Geely Galaxy, a mid-to-high-end EV and hybrid manufacturer.

Geely Holding CEO Li Donghui said the company has implemented comprehensive integration across various fields, including digitalization and cloud services. Future integration will extend to batteries and core components.

The company targets sales of over 2.7 million passenger cars this year, a 25 percent increase from last year. Geely Auto aims for two million units, while Zeekr targets 710,000 units, comprising 320,000 Zeekr-branded vehicles and 390,000 Lynk & Co vehicles.

Geely Holding is intensifying its focus on eco-friendly innovation, including green fuels. The company plans to launch two commercial hybrid vehicles in the fourth quarter -- a sedan and an SUV that combine electric power with methanol fuel. By 2030, the firm aims to achieve annual production and sales of 300,000 methanol vehicles.

Zeekr plans to introduce at least three new models this year: a hunting vehicle based on the Zeekr 007 electric sedan platform, a full-size flagship SUV, and a medium-to-large luxury SUV. The company will also enter the hybrid market with a new system this year.

Editor: Emmi Laine