Zhejiang Geely Holding said it has integrated Radar and London Electric Vehicle into listed unit Geely Automobile Holdings (HKG:0175), Yicai Global reported Thursday, citing remarks by Geely Automobile Chief Executive Gan Jiayue during a meeting.
The integration is seen to bolster the roles of Geely Auto for service to the mainstream market and Zeekr for its high-end market, the report said.
Radar manufactures electric pickups and adventure-focused electric cars, while London Electric Vehicle produces electric taxis, the report said.
The development follows an announcement in September 2024 to rejig its automotive group, the report said.
Shares fell 1% during Friday's late morning trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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