Shanghai (ZXZC)- Geely Auto Group’s all-new mid-to-high-end new energy vehicle (NEV) product series is named “Geely Yinhe” (translating to “the Galaxy”), the auto group announced on Feb. 16 via its WeChat account.

Meanwhile, the automaker claimed that the NEV strategy launch ceremony under the said brand will be held on Feb. 23.

Photo credit: Geely Auto Group

According to previous reports, the new NEV series will adopt multiple power solutions, such as all-electric and long-range plug-in hybrid electric. Its first product would be a four-door sports sedan and is scheduled for its world’s premiere at the strategic launch event next week.

The initial “Yinhe” model is expected to vie with such products as the XPeng P7 and the BYD Seal.

The “Yinhe” is said to target the market priced between 200,000 yuan and 300,000 yuan, which would sit below ZEEKR, but above Geometry.

Geely Auto scored a year-on-year growth of 8% in its 2022 auto sales, which stood at 1,432,988 units. Notably, its yearly sales of NEVs (referring to full-electric vehicles and plug-in hybrid electric vehicles under the brands of Geely, Geometry, Lynk & Co, ZEEKR, and Livan) came in at 328,727 units last year, zooming up 300% from the year-ago period.

The automaker expects its annual sales of new energy vehicles (NEVs) to double year on year to exceed 600,000 units in 2023.