Geely, China’s largest automaker, is introducing a luxury electric car brand in the hopes of competing with Tesla.
On Tuesday, the Chinese company that owns Volvo and Lotus announced the launch of its Zeekr brand to meet China’s increasing demand for electric vehicles (EVs).
It comes as Elon Musk goes on a charm offensive in China, praising the country’s carbon-reduction efforts. Tesla’s founder has attempted to assuage Chinese fears about the onboard cameras in his vehicles.
Geely announced that it will build and produce high-end electric vehicles under the Zeekr brand, with deliveries scheduled to begin in the third quarter of 2021.
It also has luxury electric car recognition due to the brands it owns. Polestar, which is operated by Volvo Cars, creates hybrid high-performance vehicles. It is headquartered in Sweden, but its vehicles are assembled in China.
