Tagged: electric

Modular electric vehicle

Magna International, a Canadian auto parts giant, announced that it will cooperate with Israeli start-up REE automotive to develop a modular electric vehicle to help the company further enter the electric vehicle market.

Modular electric vehicle

The two companies agreed to use REE’s platform to design and produce electric vehicles, which supports different vehicle designs. In a joint statement, Magna and REE said the electric vehicles could be manufactured in full compliance with the specifications of “global technology companies and participants in the electric travel market”, while enabling them to accelerate their access to the market.


“Many large technology companies are very interested in creating large global mobile services and solutions. Daniel barel, CEO of REE, said in an interview on Sunday. “This car can have any brand the brand owner wants, but it’s powered by REE.”


The location, time and financial terms of the deal were not disclosed. Barrell said the two companies would split any revenue generated in the future. He said REE has signed orders for about 260000 vehicles using the REE platform.


Last October, Magna also reached an agreement with Fisker, an American electric vehicle manufacturer, to produce the ocean SUV, which will be put into production at Magna’s factory in Graz, Austria, by the end of 2022. Since then, Magna’s share price has risen 70%.

Cooperative production of electric vehicles

According to people familiar with the matter, Xiaomi (14.7%, 0.00%, 0.00%) group plans to use Great Wall Motor’s factory to produce electric vehicles, becoming the latest technology company to join the smart mobile travel competition.


Xiaomi is in talks with great wall motor to use a great wall motor factory in China to produce its own brand of electric vehicles, the source said.


Two people familiar with the matter said that Xiaomi’s electric vehicles will be aimed at the mass market, which is consistent with the overall positioning of the company’s electronic products.


One of the people familiar with the matter said Great Wall had never provided manufacturing services to other companies before and would provide engineering consulting this time to speed up the project.


Both companies plan to announce the partnership as early as early next week, one of the people familiar with the matter said.

Geely to promote high end electric vehicle brand

Geely holdings plans to launch electric vehicles under a new brand, adopting different brands and sales strategies to challenge its main competitor Tesla in the field of high-end electric vehicles, according to people familiar with the matter.

Geely to promote high end electric vehicle brand

According to three people familiar with the matter, the new brand in Geely’s plan is called zeekr, which aims at the high-end market and will belong to Geely’s upcoming electric vehicle entity “00 technology”.


Geely will launch models under its new brand based on its sea sustainable experience architecture released in September last year, the source said.


This will be Geely’s new attempt to face the high-end market, and also support its founder and chairman Li Shufu’s long-term ambition to produce high-end cars “like Mercedes Benz” to challenge Tesla, the current leader in the electric vehicle industry.


In terms of sales strategy, Geely will open an exhibition hall or “center” in the city center to sell cars at a fixed price, which will be different from the tradition of selling cars through dealers – a marketing strategy pioneered by Tesla, according to people familiar with the matter. Last year, Tesla’s sales in China, the world’s largest auto market, grew rapidly.