China's Geely launches premium electric car brand

The new EV division will be called Geometry.

Geely, one of China's top automakers, announced the launch of a new electric car brand on Thursday. Set to target the high-end of the battery-electric market, the new unit will be know as Geometry.

Geometry expects to do most of its business within China, but the company is also accepting some overseas orders. By 2025 Geometry expects to have 10 different premium electric vehicles on the market, including SUVs, crossovers, and MPVs.

The company will launch with a sedan known as Geometry A. There will be two basic version of the Geometry A, a standard range model with a range of 250 miles and a long range version with a battery capable of traveling 310 miles between charges. The company says it has already received 26,000 orders worldwide for the vehicle.

"Geely is a strong force and active participant in the field of new energy," said An Conghui, Geely Auto Group President and CEO. "We are guided by technological innovation and are determined to become a global leader in new energy. Geometry is our answer to the future of the industry, a representation of our ideals, and a firm step into a beautiful new world.”

Before subsidies, the Geometry A will carry a base price of $31,250. A loaded long-range model will retail from $37,200. Geometry didn't outline any plans to launch in the North American market.

Geometry parent Geely holds a controlling stake in Volvo and recently partnered with Daimler to produce electric Smart cars in China.