Polestar, Xingji Meizu said to seek capital collaboration
Beijing (Gasgoo)- Polestar, the electric performance car brand jointly owned by Volvo Car Group and Zhejiang Geely Holding Group, is reportedly exploring a capital-level collaboration with Xingji Meizu, the combined entity formed after the consolidation of Meizu Technology Co., Ltd. and Hubei Xingjishidai Technology Co., Ltd. ("Xingji Technology").
Polestar 2; photo credit: Polestar
Sources familiar with the matter revealed to a local media outlet that the preliminary discussions involve establishing a joint venture to facilitate the integration of automotive and smartphone ecosystems.
This business consolidation also comes with personnel reallocation. Multiple independent sources have informed the local media outlet that Shen Ziyu, Chairman and CEO of Xingji Meizu, will take the helm of Polestar China, further leveraging the resources within the Geely system, while Feng Dan, General Manager of Polestar China, will continue to oversee the execution and implementation of various operations.
Polestar China has yet to respond to the rumors when the report is prepared.
In July last year, Xingji Technology, under the leadership of Li Shufu, acquired Chinese smartphone maker Meizu Technology, aiming to integrate the existing smartphone business while exploring the integration of smartphone ecosystems and interactions in automobiles. The recently unveiled Lynk & Co 08, featuring the Flyme Auto infotainment system, serves as an experimental project for Xingji Meizu.
Xingji Meizu holds three business divisions, namely smartphones, XR (extended reality), and advanced technologies. The Meizu smartphone brand continues to operate under the smartphone division.
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