Geely is reportedly planning to rationalise its domestic sales brands and axe a number of its brands.

A report in China Daily said that brands such as Emgrand, Gleagle and Englon may vanish from the Chinese market.

Chairman Li Shufu said that "there will be one and only one Geely" in the future.

"At the same time, we will further reinforce and integrate our distribution networks, with higher requirements for the dealerships, to enhance the competitiveness of our products," said Li.

The report said that after the three brands disappear, Geely will adopt a new logo for the only remaining Geely brand, which will cut costs, especially for brand management and marketing.