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Chinese automaker Geely sets up new EV brand

Abstract : Chinese automaker Geely on Tuesday set up a new electric vehicle (EV) brand with a registered capital of 2 billion yuan (307.2 million U.S. dollars), according to company sources.

HANGZHOU, March 23 (Xinhua) — Chinese automaker Geely on Tuesday set
up a new electric vehicle (EV) brand with a registered capital of 2
billion yuan (307.2 million U.S. dollars), according to company sources.

The new brand, named Zeekr, will be a joint venture between Geely
Auto and its parent company Geely Holding Group, taking a stake of 51
percent and 49 percent in the new brand, respectively.

The first model of the new brand will be up for reservation in this
year’s Auto Shanghai, scheduled to be held from April 21 to 28, and
delivered in the fourth quarter, according to Geely Auto.

In the next five years, Zeekr aims to launch at least one new product in the market each year.

According to Li Shufu, chairman of Geely Holding Group, the company
is formulating plans to focus on energy-saving and new energy vehicles,
as well as on smart EVs.

Zeekr is Geely Holding’s latest electrification initiative. Volvo,
which Geely Holding acquired in 2010, has announced to become fully
electric by 2030. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).

Source: Chinese automaker Geely sets up new EV brand

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