As reported by Chinese publication The Financial Associated Press, Geely is looking at creating another spin-off brand from its Geely Commercial Vehicle division that’ll create premium electric commercial vehicles.
The commercial sub-brand is yet to be named or confirmed by Geely and is currently in the “internal incubation” stage.
The sub-brand’s goal is reportedly to benchmark US automaker start-up Rivian, which recently received a US$100 billion (A$136.3 billion) market valuation.
It’ll reportedly reveal an electric vehicle (EV) by the second half of 2022.
Geely isn’t unfamiliar with electric commercial vehicles with its Farizon Auto sub-brand recently revealing an electric semi-truck concept called the Homtruck that’s scheduled for a 2024 launch.
The Chinese conglomerate also owns London Electric Vehicle Company (LEVC), which produces an electrified version of the iconic London taxi as well as electric commercial and camper vans.
Its TX taxi and VN5 commercial van both come with a 1.5-litre petrol range extender engine for when the battery runs out.
Zhejiang Geely Holding Group, better known as Geely, currently counts brands such as Volvo, Polestar, Proton, Lotus, Smart, and Lynk & Co, among others, in its portfolio.
Its most recent sub-brand Zeekr, is a premium electric vehicle brand that utilises Geely’s modular Sustainable Experience Architecture (SEA) that’s capable of single-, dual- or tri-motor set-ups, as well as range extender options.
SEA will support over-the-air updates and autonomous driving technology, and claims a maximum range of over 700km using the more lenient NEDC standard.
Geely has some ambitious goals for the next four years, which it has laid out in its ‘Smart Geely 2025 Strategy’ roadmap.
One of these goals is to boost annual sales from Geely Auto Group, Lynk & Co, Geometry and Zeekr brands to 3.65 million units.
It’s also expanding its reach into other markets, including introducing the Lynk & Co youth-oriented brand into markets such as Australia, New Zealand, Russia and Malaysia by 2025.
Something that’s already been detailed is Geely’s intention to have 5000 battery swapping stations across China by 2025.
Known as E-Energee, the battery-swapping service revealed at the 2021 Wuzhen Internet Conference allows EV owners to swap their existing battery for a fresh one in 59 seconds.