On the evening of May 15, Geely Automobile officially released an announcement, stating it invested approximately RMB 218 million to fully acquire Radar Automotive (Shandong), Radar Auto Sales, and Radar Thailand.
Among them, Zhejiang Jirun and Geely Sales acquired 100% equity in Radar Automotive (Shandong) and Radar Auto Sales for RMB 159 million and RMB 59 million respectively. CIL and GAIL under Geely acquired all capital of Radar Thailand for RMB 490,000.
In the future, these three companies will officially become wholly-owned subsidiaries of Geely Automobile, with financial performance consolidated into the listed company's reports. This marks the official upgrade of Radar from "testing the waters incubation" to a core strategic category of the listed company.
At this point, some might ask, Radar turned from profit to loss last year, and the Thai subsidiary losses expanded. What does Geely want? It is precisely this counter-cyclical tenacity that opens a grand chess game.
Acquiring Radar for 218 Million, What Chess Game is Geely Playing?
This account is calculated clearly: Zhejiang Jirun spent RMB 159 million to take 100% equity in Radar Automotive (Shandong), Geely Sales spent RMB 59 million to acquire Radar Auto Sales, and CIL and GAIL collectively invested RMB 490,000 to get all capital of Radar Thailand into their pocket.
490,000 to acquire the Thai distribution entity, an overseas pivot point with 2,569 orders won at the Bangkok International Motor Show, up 283% year-on-year. This deal's actuarial precision is comparable to a Michelin chef weighing ingredients.
So how is Radar's real situation? In 2025, Radar Automotive (Shandong) after-tax loss was RMB 8.646 million, while the year before it was profitable RMB 67.743 million; Radar Thailand after-tax loss was RMB 10.697 million, significantly expanded compared to the previous year. But don't be led astray by numbers, Radar Auto Sales Company went from a loss of RMB 157 million directly to profit, earning RMB 12.325 million, overall still very promising.
In recent years, domestic pickup truck city entry restrictions eased, outdoor leisure economy rose, coupled with electrification, intelligence penetration, new energy pickup trucks became a new growth pole of the industry.
Data shows, in 2025 China pickup truck exports broke 300,000 vehicles, accounting for over 50%, global potential highlighted. 2025 sales 73,000 vehicles, year-on-year growth 243%. Radar has remained number one in domestic new energy pickup truck market share for three consecutive years, pure electric market share highest reached 98%, full year 2025 sales 13,040 vehicles, year-on-year explosive growth. Zibo Zichuan smart factory key equipment CNC rate reached 97%, it is the first native new energy pickup truck professional factory in China.
Shortcomings also exist, Q1 2026 new energy pickup truck penetration rate less than 10%, market size not big enough. Fighting alone trial and error costs are too high. Relying on Geely's listed company backing, integrating R&D, production, supply chain, channels is a smart move.
What is the impact of this acquisition on all parties? Radar can fully share Geely's mature R&D system, Thor EM Super Hybrid Technology, supply chain resources and manufacturing bases. Thor EM-P system comprehensive range 1,068 km, fuel consumption only 6.4L even when power is low, cost within 100km usage lower by 75% compared to fuel pickup trucks. Cost and technical barriers instantly raised. Meanwhile, Radar brand will be merged into Geely China Star Series, belonging to its pickup truck business line, avoiding internal competition, realizing multi-brand differentiation complementarity. A Geely executive revealed: "In the future, Radar's R&D expenses will drop by 30%, molds and testing resources will be shared across the group."
How about future market prospects? 2025 China pickup truck exports broke 300,000 vehicles, accounting for over 50%. Global potential is exploding. Radar Thailand although initially loss-making, but Thailand is Southeast Asia pickup truck core market, Toyota, Isuzu monopolized for a long time. Radar King Kong EV won 2,569 orders at Bangkok Auto Show. This is the best ice-breaking signal.
A person from Geely clearly stated, this acquisition will take Radar's R&D, production, sales, overseas channels full chain into unified control, help Radar quickly expand international market. It can be said, RMB 218 million bought not only three companies, but also the strategic ticket for new energy pickup truck "Domestic + Overseas" dual-wheel drive.
Broaden the Outlook
Acquisition completed, Geely new energy version already clearly presented: Zeekr focuses on high-end pure electric, Galaxy covers mass market, Radar opens pickup truck blue ocean.
Borrowing Radar's overseas channels, Geely pickup trucks 2025 export volume expected to break 50,000 vehicles, grabbing global new energy pickup truck 50% incremental market. Deeper value is, Geely is using "Safety" to break through global competition, when Europe raises collision test standards, Southeast Asia strengthens EV safety regulations, its full-domain safety technology system has been laid out in advance.
At the Paris Safety Technology Forum in May, Geely will publicly demonstrate extreme safety tests, to the world showing Chinese Intelligent Manufacturing's confidence. This might presage a turning point: Can Chinese car companies leverage safety as a pivot to leverage the global automotive industry value chain restructuring?
From financial operation to technology accumulation, from market breakthrough to value output, this acquisition reflects not only commercial wisdom, but also a Chinese brand's ultimate interpretation of "sense of security". When industry chasing short-term interests, Geely is building moats with long-termism: using technology to build safety bottom line, using sharing to promote industry progress, using global layout to open the future. This "sense of security", will eventually become its ultimate weapon to conquer the market.
Electric Vehicles
This move is far more than financial consolidation. It bought, a brand already seized the opportunity in new energy pickup truck blue ocean, a ready-made "Domestic + Overseas" dual channel network, and an opportunity to inject group technology, supply chain advantages into niche market.
Radar has gone though short-term pressure, but standing on Geely's shoulders, its R&D cost can drop 30%, global resources at fingertips. This counter-cyclical layout shows Geely in industry fierce battle, still dare to bet for the future determination and foresight.
When safety becomes Geely's faith, strategy becomes its instinct, such a brand, worthy of a long-term trust.
