Geely said to locate new smart EV venture in Hefei

Shanghai (Gasgoo)- Geely Auto's all-new smart electric vehicle (EV) company is expected to be located in Hefei, capital of Anhui Province, according to a local media, citing people with direct knowledge.

SEA; photo credit: Geely Holding

Geely will build a new electric EV company to compete head-on with other manufacturers of intelligent battery electric vehicles (BEVs), Li Shufu, chairman of Zhejiang Geely Holding Group, said on Feb. 20 in an internal letter.

Mr. Li said the company has hammered out two “Blue Geely” initiatives and the establishment of the new EV venture is part of the one that focuses on smart BEVs. The other one is dedicated to the development of energy-saving and new energy vehicles (excluding BEVs).

Sources revealed that Geely's new EV venture may be named “Lingling Technologies”. It is said to operate all BEV brands of Geely Auto, involving Geometry's products, Lynk & Co's EV models based on the SEA (Sustainable Experience Architecture) and other SEA-based models.

As a standalone business unit, the new EV company will work on researching and updating the SEA-related technologies, and obtaining market data through various channels for the development of corresponding models, said the person.

In addition, the new venture will reportedly build an independent sales team and launch showrooms in downtown areas. To control prices and inventories, both direct sales and dealerships are adopted as sales channels.

In September 2020, Zhejiang Geely Holding Group and Anhui provincial government signed an agreement under which both parties would deepen collaboration focusing on automotive lightweight, electrification, connectivity and sharing.

Geely is considering various options, including the possible spin off of its EV-related business due to the rise of electrification, An Conghui, President and CEO of Geely Auto Group, said at an investors call on Feb. 24.