Tesla To Face Rivalry: China Launches Premium Electric Car Brand

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Geely, China’s biggest carmaker, is set to launch the premium electric car brand. It will compete with Tesla’s exclusive cars.

The Chinese company under which Lotus and Volvo has announced the name Zeekr this Tuesday. They proposed the name until the demand for electric vehicles from China.

The car comes as Elon Musk. It continues to impress China because the manufacturers plan to control air pollution.

Tesla’s founder has sought to alleviate China’s concerns with car cameras.

According to Geely, the new cars will be developed and manufactured as high-end EVs under the brand name “Zeeker”. The company also expects to launch cars in the market in the third quarter of 2021.

The premium car brand is linked with several premium electric cars which come under the brand name. For instance, the biggest developed EV cars were Polestar by Volvo cars, which has the unique attributes of electric performing cars. The company has its headquarters in Sweden while they produce the vehicles in China.

Lotus, which also comes under Geely, works for the electric supercar named Evija.

Geely also owns a black taxi manufacturer in London, the London EV Company, and is focused on building hybrid plug-in taxis, equipped with a petrol engine and an electric battery.

Zeekr, a kind of domestic electric car, will face stiff competition from Tesla, whose Model 3 was the best-selling electric car in China last year. It will also rival China’s Nio, Xpeng and Li Auto teams, which experience immense sales.

In the previous Week, China’s Nissan partner in Japan, Dongfeng Motor, and PSA Peugeot Citroen in France explained an EV brand, Voyah, is expected to sell electric cars to the Chinese consumers this July.

Beijing wants over five of the five cars sold in China to be electric by 2025.

Geely aspires to be China’s first world car maker in the same way as Volkswagen. Along with its Volvo and Lotus products, it has a smaller stake in Daimler, with Mercedes-Benz.

Zeekr’s initial strategy will focus on the Chinese market, but will also explore foreign opportunities in line with the growing global demand for premium electric vehicles.

The new electric car brand will be operational with another new company, Lingling Technologies. It is based in Hefei in eastern China.

Michael Dunne, chief executive of ZoZo Go, a consulting firm in Asia that focuses on the car market, added to the news, “Chairman Li Shufu senses a need to inject his 24-year-old company, Geely, with a startup vibe like what he sees at NIO, Xpeng and Li Auto.”

“To get there, he envisions an electric baby – Lingling Technologies – that operates independently from Geely.”

This Tuesday, Geely reported a massive sale of its cars in 2020 compared to the previous years.

It shows that China is ready to make a comeback in the industry with a boom. These electric cars will pose a great impression on the car market and it will result in the boost of economy compared to the other products.  

References:

https://www.bbc.com/news/business-56493572

https://www.msn.com/en-us/autos/news/china-s-biggest-car-brand-launches-rival-to-tesla/ar-BB1eTGCN?ocid=msedgntp

https://finance.yahoo.com/news/chinas-biggest-car-brand-launches-031639709.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFi6pDKgStNNiLeltbjWpzClTAiLRn6ZU_TrcwN9KFC2O–Qf1V-dAwCDzvIlmKu1jZzERAYplM9xHfYQ1HGuZuz_sw-Xj1iX2Lzfb7a6ejHVLcV3MLluODZ4UEvTehKifGZetNwxfmYmaE_HqguqGW0toNZt8cDWrLTTYoXrE-Y

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