Chinese automaker Geely is launching its Geely brand in the UK, with the electric EX5 SUV set to go on sale in the fourth quarter, Reuters reported Wednesday.

The EX5 is still undergoing "intensive development work" to meet the expectations of UK car buyers and will be the first in a "diverse range of high-quality, accessible vehicles tailored for the UK," Geely said in a statement, according to Reuters.

The company joins other Chinese brands that have entered the UK market, including BYD (HKG:1211), Chery's Omoda and Jaecoo marques, and Xpeng (HKG:9868), the report said.

Britain is Europe's largest electric vehicle market and, unlike the European Union, has not imposed tariffs on Chinese-made EVs, Reuters said. Geely has also announced plans to launch the EX5 in several other markets, including Australia, Brazil, and Poland.

Geely's other units, Volvo Cars, Lotus, and Polestar, are already active in the UK.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)