Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automakers
March 19, 2021 03:16 AM

Targeting Tesla, Geely to launch new premium EV brand, report says

Chairman Li Shufu's ambition is to make premium cars "like Mercedes-Benz"

Reuters
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Geely's new electric vehicle, Geometry A (GE11), pictured at the 2019 Shanghai auto show.
    Reuters

    Geely's new electric vehicle, the Geometry A, at the 2019 Shanghai auto show.

    BEIJING -- China's Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo Cars owner looks to take on its main EV rival, Tesla, with higher-end vehicles.

    The brand, positioned in the premium segment and named "Zeekr," will be housed under Geely's to-be-launched EV entity Lingling Technologies, according to three people, who declined to be named as the plan is not yet public. Reuters reported the plans for Lingling last month.

    Geely, the owner of Volvo Cars and 9.7 percent of Daimler, will roll out models under the new marque based on its open-source EV chassis, announced in September and called Sustainable Experience Architecture (SEA), the sources said.

    It will be a new attempt to go up-market by Geely, and backs founder and Chairman Li Shufu's long-held ambition to make premium cars "like Mercedes-Benz" in a bid take on EV leader Tesla.

    Geely will open showrooms, or "hubs," in city centers to sell cars at a fixed price, departing from traditions to sell cars through dealerships - marketing tactics pioneered by Tesla, which last year saw sales expand quickly in China, the world's biggest car market.

    The plan follows a flurry of tie-ups by Geely earlier this year as the automaker pursues its goal of becoming a leading EV contract manufacturer and engineering service provider.

    "Traditional gasoline cars and electric vehicles are two race tracks of business. Geely does not have a clear advantage in electric vehicles at the moment so it appears that it wants to complete its own innovation by creating a new brand," said Alan Kang, analyst at auto consultancy LMC Automotive.

    China's automakers largely compete with entry-level and mass-market manufacturers including Volkswagen and Toyota, but EV maker Nio sells cars with higher prices and counts BMW as a rival.

    Hangzhou-based Geely also plans a broad array of sales and marketing strategies to seek deeper relationships with the EV buyers. It will open lifestyle lines for clothing and accessories and launch a car owner's club, tactics used by Nio, sources said.

    Zeekr is also considering rolling out a share ownership plan that allows customers to become shareholders of Lingling, which management hopes will boost sales and the relationship between brand and customers.

    Geely declined to comment.

    Many conventional automakers have used a new brand to launch their EV units. Geely's rivals including Great Wall, and SAIC Motor have rolled out their respective new standalone EV brands.

    China's government has heavily promoted new energy vehicles (NEVs) - such as battery-powered, plug-in gasoline-electric hybrid and hydrogen fuel cell cars - in response to chronic air pollution and a warming climate, spurring interest from technology companies and investors alike.

    China forecasts NEVs will make up 20 percent of its annual auto sales by 2025 from around 5 percent in 2020.

    FOCUS ON ELECTRIFICATION NEWSLETTER: A monthly wrap-up of the latest electric vehicle news, including interviews and global EV sales data, delivered to your inbox.
    RECOMMENDED FOR YOU
    Renault cedes power at Nissan for uncertain benefits
    Recommended for You
    Renault Nissan logos 2023
    Renault cedes power at Nissan for uncertain benefits
    BYD Han sedan
    BYD expects 2022 profit surge as sales jump
    Arrival has built test models and is due to launch production in 2022.r.
    EV startup Arrival slashes workforce; names new CEO
    Capgemini Invent Head on automotive takeaways from CES 2023
    Sponsored Content: Capgemini Invent Head on automotive takeaways from CES 2023
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us