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As Cars Go Electric, China Builds a Big Lead in Factories Source: By Keith Bradsher, New York Times • Posted: Wednesday, May 5, 2021
Fueled with money from Wall Street and local officials, automakers plan to build eight million electric cars a year there, more than Europe and North America combined.
The body for an electric Zeekr, made by Geely, inside the welding hall of a factory near Ningbo, China.Lorenz Huber for The New York Times
ZHAOQING, China Xpeng Motors, a Chinese electric car start-up, recently opened a large assembly plant in southeastern China and is building a matching factory nearby. It has announced plans for a third.
May 5, 2021
ZHAOQING, China – Xpeng Motors, a Chinese electric car startup, recently opened a large assembly plant in southeastern China and is building a matching factory nearby. It has announced plans for a third.
Another Chinese electric car company, Nio, has opened one large factory in central China and is preparing to build a second several kilometers away.
Zhejiang Geely, owner of Volvo, showed off an enormous new electric car factory in eastern China last month rivaling in size some of the world’s largest assembly plants. Evergrande, a troubled Chinese real estate giant, has just built electric car factories in the cities of Shanghai and Guangzhou and hopes to be making almost as many fully electric cars by 2025 as all of North America.
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By Reuters Staff
Slideshow ( 2 images )
NINGBO, China/BEIJING (Reuters) -Chinese automaker Geely, owner of Volvo Cars, on Thursday launched a high-end electric vehicle (EV) brand named Zeekr, targeting China’s growing appetite for premium EVs that has boosted sales for Tesla and Chinese peer Nio.
Parent Zhejiang Geely Holding Group and Geely Automobile said last month they would jointly invest 2 billion yuan ($306 million) in the new venture, seeking to position Zeekr as a startup under Geely group, also known overseas for its 9.7% stake in Germany’s Daimler AG.
The price tags for Zeekr cars will be around 300,000 yuan, and Flynn Chen, Zeekr’s vice president, said the brand will explore new sales and marketing methods, including allowing customers to subscribe to car-using rights and offering a stake in the company to car buyers.
Geely launches its new Zeekr brand with the electric 001 autoblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoblog.com Daily Mail and Mail on Sunday newspapers.