Geely, the Chinese parent company of Volvo, will launch a ‘new electric mobility technology and solutions company’ called Zeekr, announced last week.
The company, which is China’s largest private automaker, reportedly will invest $300 million into the new venture to start out.
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It’s the latest in a string of deals for Geely that includes satellites, drones, trucking, and partnerships with major firms like Baidu, Tencent, and Foxconn.
The first cars bearing the Zeekr nameplate are scheduled to roll out in the third quarter of 2021, Geely confirmed.
The vehicles will be built on an open-source EV chassis called Sustainable Experience Architecture (SEA).
According to Geely, there are hints of Tesla’s direct-to-consumer sales strategy, as well as in its charging and service offerings, reads the description of Zeekr’s user experience.