Geely Auto Fully Acquires Radar Auto to Bolster New Energy Pickup Business

[Brand Integration] Geely Auto has fully acquired Radar Auto for RMB 218 million, integrating it into the China Star brand's pickup truck business line.

Key Development: Radar Auto Officially Integrated into Listed Company Structure

Geely Auto recently announced that it has acquired all equity interests in Radar Auto (Shandong) Co., Ltd., Radar Auto Sales Co., Ltd., and its Thai subsidiary Radar Thailand for approximately RMB 218 million in cash. Upon completion of the transaction, Radar Auto became a wholly-owned subsidiary of Geely Auto, with its financial results consolidated into the listed company’s financial statements.

Strategic Rationale: Strengthening Position in the New Energy Pickup Segment

Radar Auto was established in 2021, incubated by Geely Holding Group, focusing on passenger-oriented and electrified new energy pickup trucks. Its production base is located at the Zichuan Smart Factory in Zibo, Shandong. Previously, as an externally incubated entity under the group, it was not included within the listed company’s structure. This acquisition aims to consolidate resources and leverage the China Star brand’s sales channels to accelerate entry into the mainstream market.