Update: A Geely spokesperson told CnEVPost that the brand's official English name is Geely Galaxy.

The first model of the new brand is expected to be a sedan that will have extremely low wind resistance.

Geely has become the latest auto giant to announce a new NEV brand after BYD.

On January 5, BYD launched the Yangwang brand and debut to the brand's hardcore crossover SUV, the U8, as well as its supercar, the U9.

BYD did not announce pricing for either model at the time, though it said the Yangwang U8 would be priced at the RMB 1 million ($146,000) level.

Geely Galaxy is positioned as a mid-to-high-end brand, meaning it is likely to target the RMB 200,000 to 500,000 price range.

On February 4, Geely CEO Gan Jiayue said that Geely will launch a mid- to high-end NEV lineup and will launch a number of new products including high-mileage PHEVs and pure electric models within three years.

The launch of the Geely Galaxy is part of Geely's goal of achieving sales this year.

Gan said on January 8 that Geely's sales target for 2023 is 1.65 million units, with a target of 600,000 NEVs.

Geely Automobile Group sold 1.43 million vehicles in 2022, including 262,253 pure electric vehicles and 66,474 plug-in hybrids.

BYD officially launches Yangwang brand, debuts hardcore off-road SUV U8 and supercar U9