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.
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.