- Aims to take on premium global electric brands

- Unique business model with production given to parent company under asset-light operation strategy

Geely Auto Group (Geely Auto) has announced the formation of a new company ‘Zeekr Company Limited’ – a new electric mobility technology and solutions company based in China. Zeekr aims to serve the growing global demand for premium electric vehicles and will be jointly owned by Geely Automobile Holdings and Zhejiang Geely Holding Group.

Although the translation or meaning of the sub-brands name isn’t said in the release, but the Chinese name of Zeekr has been confirmed as ‘Ji Ke’. According to the statement issued, the first Zeekr vehicles are expected to be delivered in the third quarter of 2021 with plans of introducing a new EV to the market each year for the next five years. The production will be undertaken by parent company Geely Holding under a light asset strategy. Both parties have also agreed to invest two billion RMB in the capital.

Under the Geely umbrella, Zeekr plans to create a new ecosystem that is focused on the full integration of the end-user into a new super ecosystem. Zeekr will use Geely Holding Group’s ‘sustainable experience architecture’ (SEA) services that will include its battery technologies, battery management systems, electric motor technologies and electric vehicle supply chain support. By utilizing SEA technologies, Zeekr vehicles will be able to offer software upgrades throughout the lifetime of every vehicle through over-the-air (OTA) upgrades. The new-found brand also claims to offer a luxury vehicle experience in terms of comfort and performance.

Zeekr will become the latest electrification initiative within the Geely Holding Group, in which other companies such as Volvo have recently announced ambitious zero-emission strategies. Other brands within Geely Holdin – including Lynk&Co, Polestar, LEVC, Geometry and Lotus Cars – are also continuing to expand in different market segments, providing consumers with a range of electrified products and unique business offerings. Zeekr will initially focus on the Chinese market, but will also explore export opportunities to satisfy global market demand for premium electric vehicles.