Geely on Tuesday introduced the institution of a brand new model for premium electrical automobiles.

Known as Zeekr (Ji Ke in China), the model will initially function in China however ultimately develop to world markets, together with doubtlessly the USA.

The primary mannequin from Zeekr shall be launched as early as this fall. It will likely be based mostly on the Sustainable Experience Architecture (SEA) modular EV platform unveiled by Geely final 12 months. The versatile platform, which permits a spread of over 400 miles, will ultimately be utilized by most Geely manufacturers, together with Volvo.

Extra fashions will comply with in fast succession. Geely stated there shall be at the very least one new Zeekr launched yearly over the subsequent 5 years. Zeekr will not have any of its personal crops however will outsource manufacturing to Geely which is entering into the contract manufacturing game.

To face out, Zeekr shall be positioned as an EV know-how firm much like Tesla. As such, it should develop its personal core techniques like batteries and battery administration techniques, in addition to electrical motors. It’ll additionally set up its personal worth chain.

Not like a few of Geely’s different manufacturers, Zeekr shall be absolutely owned by Geely and associated entities. Its possession shall be break up 51:49 between Geely Holding and the Geely automotive model. Geely Holding Chairman and founder Li Shufu will function chairman of Zeekr.