ZHEJIANG Geely Holding Group Co plans to integrate its premium electric vehicle brand Zeekr with its smart car marque Lynk&Co in a restructuring aimed at eliminating duplication and saving costs, according to people familiar with the matter.

The move will see the two brands pool resources such as research and development and software and hardware capabilities, the people said, asking not to be identified because they’re not authorised to speak publicly.

Management of both car brands will largely remain in place although Zeekr CEO Andy An will lead the transition and Lynk&Co executives will report to him, one of the people said. The integration is set to be announced this week, the people said.

Representatives for Geely declined to comment. News of the restructure was reported earlier on Nov 14 by Chinese state-run media Economic Daily.

Geely is under pressure in China from increasingly strong domestic rivals like BYD Co and US electric vehicle maker Tesla Inc. Best known for its acquisition and revival of Volvo in the 2010s, the group has grown to encompass a sprawling stable of brands from the maker of the London black cabs in the UK to Malaysia’s Proton. It also has joint ventures with partners including Renault SA and Mercedes-Benz AG.

The breadth of Geely’s empire has come under criticism in the past and the company is trying to streamline areas of its business.

In September, founder and chairman Li Shufu published a document called the Taizhou Declaration, in which he said the holding group will go through a strategic realignment and focus on the transition toward electric, intelligent and connected vehicles.

Announcing third-quarter results on Nov 14, Zeekr CFO Jing Yuan said the company’s “disciplined cost control measures, coupled with an ongoing optimisation of product structure, economies of scale and technological innovation” helped increase revenue.