Volvo owner unveils new Tesla competitor. Zeekr electric cars target the premium segment

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Last updated on December 8th, 2022 at 02:54 pm

Brand created by Volvo owner Geely

Chinese automaker Geely, which owns Volvo and has a stake in Daimler AG, is planning to launch a new brand of premium electric vehicles.

Volvo
Volvo

Volvo owner unveils new Tesla competitor. Zeekr electric cars target the premium segment

According to Reuters, the new electric vehicles will be produced by a subsidiary called Lingling Technologies. Thus, Geely is going to compete with Tesla in the Chinese premium electric vehicle market.

The new EV brand is called Zeekr, with Geely planning to sell its vehicles directly to customers at a fixed and flat price across all of its malls and retail outlets.

The Zeekr brand will be based on an open source electric vehicle chassis called Sustainable Experience Architecture. Recently, the country has seen a steady increase in the interest of Chinese automakers to expand production of electric vehicles. The skyrocketing sales of electric vehicles in the world’s largest auto market have propelled Tesla to great success in China.

The Direct Selling to Customers plan aims to build closer relationships with customers as well as reduce the cost of vehicles. In addition, Geely plans to create a club of Zeekr car owners and offer them the opportunity to buy shares in Lingling Technologies.

Also Read:   Volvo starts production of its first electric car, the XC40 Recharge P8 crossover
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