Owl Auto News (ID:owlauto) reported that recently, Geely Auto issued an announcement, stating an investment of approximately 218 million yuan to fully acquire Radar Auto (Shandong) Co., Ltd., Radar Auto Sales Co., Ltd., and the Thailand distribution company Radar Thailand. Among them, Zhejiang Jirun acquired 100% equity of Radar Auto (Shandong) for 159 million yuan, Geely Sales acquired all equity of Radar Auto Sales for 59 million yuan, and CIL and GAIL under Geely acquired all share capital of Radar Thailand totaling 490,000 yuan. After the transaction, the three companies officially became wholly-owned subsidiaries of Geely Auto, with financial performance merged into the listed company's reports, marking the formal transfer of Radar Auto from the Geely Holdings system to the unified control of the Geely Auto listed company.
It is reported that the three targets form the complete chain of the Radar brand from R&D and manufacturing to sales and distribution. Specifically, Radar Auto (Shandong) is the core operating entity of the brand, specializing in R&D and manufacturing of mid-to-high-end new energy pickups, with production bases located at Zibo Zichuan Smart Factory; Radar Auto Sales is responsible for domestic sales system operation and dealer layout; Radar Thailand was established in Thailand in July 2024, it is Radar's first independently operated overseas subsidiary, focusing on distribution in the Thai and Southeast Asian markets.
In terms of performance, the three companies showed significant divergence in 2025. Radar Auto (Shandong) turned from profit to loss, with a net loss of 8.646 million yuan, compared to a profit of 67.743 million yuan in the same period last year; Radar Auto Sales turned loss to profit, with net profit of 12.325 million yuan, compared to a loss of 118 million yuan in the same period last year; Radar Thailand expanded losses, with a net loss of 10.697 million yuan. Despite this, Radar Auto's full-year sales in 2025 still reached 13,040 units, achieving year-on-year growth, ranking high in market share in the domestic new energy pickup market. At the March 2026 Bangkok International Motor Show, Radar King Kong EV received 2,569 orders, a year-on-year increase of 283%.
For Geely, this integration is a key layout to cope with intense industry competition. Radar can share Geely's R&D system, Geely Thunder EM-P super electric hybrid technology, supply chain and manufacturing bases, effectively reducing costs; Geely can coordinate multi-brand planning, avoid internal competition, while integrating Radar's domestic and international full-channel resources, leveraging the opportunities in the new energy pickup sector, further perfecting its global new energy vehicle landscape. As for whether this acquisition will ultimately bring good results to Geely as expected, it will take time to give an answer.
