Geely Holding Group yesterday unveiled its mid-to-high brand Emgrand when its first model rolled off the assembly line at a plant in Ningbo, Zhejiang Province, as the low-price car maker drives to a higher market segment for better brand recognition and profitability.

Hangzhou-based Geely said the EC718 under its third brand Emgrand will be available in wagon and sedan versions, targeting young male customers. The mid-class car will cost between 80,000 yuan (US$11,713) and 120,000 yuan when domestic sales begin two weeks later.

(Shanghai Daily July 29, 2009)