Automotive conglomerate Geely has announced that it will exit as the majority shareholder of Zeekr, a premium EV brand launched in China earlier this year. By pulling out as majority shareholder, Geely now opens the door for outside financing in Zeekr. However, while Geely’s name may no longer be listed in any investor meetings at Zeekr, the automotive manufacturer is still very much tied to the EV brand and its future.
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Auto manufacturer Geely plans to launch a new premium EV brand called Zeekr in China. Zeekr will exist as a separate brand and marketing strategy under the Geely umbrella. The automaker reportedly hopes to develop premium vehicles like Mercedes-Benz to compete with the likes of Tesla.