Source: Geely will set up an independent electric vehicle parts company

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Tencent technology news according to media reports, a source disclosed that Geely plans to set up a new company to explore new methods for product planning, marketing and sales of electric vehicles (EV), which is completely different from the industry practice of marketing and sales of electric vehicles together with traditional vehicles.
The plan is Geely’s latest effort to counter the attack of electric vehicle leader Tesla after it announced a series of cooperation last month, aiming to make Geely a leading contract manufacturer and engineering service provider of electric vehicles.
Geely is the owner of Volvo and owns 9.7% of Daimler, three people familiar with the matter said. It plans to set up Lingling technologies this year to manage models based on its open source platform for electric vehicles. The platform was announced in September 2020 and named sustainable experience architecture (SEA).
They said that the Department will also take over the marketing and sales of Geely’s high-end brand linker (starting with zero models) and the sea based electric vehicles under the geometry brand. People familiar with the plan declined to be named because it was conducted in private.
Geely declined to comment.
Geely Motor Holdings Ltd., Geely’s main listed company, sold 1.32 million cars last year. However, as many drivers turned to conventional fuel powered vehicles and other brands of electric vehicles with longer range, the company found sales of its electric vehicles, gasoline battery hybrids and plug-in hybrids falling.
Geely’s management realized the need to develop, market and sell electric vehicles in a different way than traditional cars, so they decided to set up an independent company, people familiar with the matter said.
The new company has not yet been registered and its official name has not been determined, people familiar with the matter said.
They said that the company will be independent of the traditional automotive sector, it will research and update sea related technologies, and will obtain market data in different ways to develop corresponding electric vehicle models.
Two of the people familiar with the matter said the company will have an independent sales team and will open exhibition halls in the city center. Some exhibition halls will cooperate with dealers and some self operated exhibition halls will directly control pricing and inventory. (Tencent technology reviser / Lexue)