{"id":107449,"date":"2021-02-19T05:48:28","date_gmt":"2021-02-19T05:48:28","guid":{"rendered":"https:\/\/fin2me.com\/?p=107449"},"modified":"2021-02-19T05:48:28","modified_gmt":"2021-02-19T05:48:28","slug":"geely-departs-from-convention-with-plan-for-new-ev-unit-sources","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/geely-departs-from-convention-with-plan-for-new-ev-unit-sources\/","title":{"rendered":"Geely departs from convention with plan for new EV unit: sources"},"content":{"rendered":"

SHANGHAI (Reuters) – China\u2019s Geely plans to set up a firm to explore new approaches to product planning, marketing and sales of electric vehicles (EV), sources said, departing from industry convention whereby EVs are marketed and sold alongside traditional cars.<\/p>

FILE PHOTO: A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China August 4, 2017. REUTERS\/Aly Song <\/figcaption>

The plan would be Geely\u2019s latest push to operate differently after announcing a flurry of tie-ups last month aimed at turning the automaker into a leading EV contract manufacturer and engineering service provider, in its fight against the incursion of EV leader Tesla Inc.<\/p>\n

The owner of Volvo Cars and 9.7% of Daimler AG will establish Lingling Technologies this year to manage models based on its open-source EV chassis base, announced in September and dubbed Sustainable Experience Architecture (SEA), three people said.<\/p>\n

The unit will also take over marketing and sales of SEA-based EVs under Geely\u2019s Lynk & Co brand – starting with the Zero model – as well as those under its mass-market Geometry marque, they said, declining to be identified as the plan was private.<\/p>\n

Geely declined to comment.<\/p>\n

Geely\u2019s main listed firm, Geely Automobile Holdings Ltd, sold 1.32 million cars last year. However, it saw sales of electric vehicles, petrol-battery hybrid vehicles and plug-in hybrid vehicles decline as drivers turned to conventional petrol-powered cars as well as rival EVs with longer driving ranges.<\/p>\n

Management realised the need to develop, market and sell EVs in a different way to conventional cars and so decided to set up a separate company, the people said.<\/p>\n

The new entity has yet to be registered and its formal name yet to be decided, the people said.<\/p>\n

It will conduct research and implement updates for SEA-related technology independent of conventional vehicle divisions, and will source market data differently to develop EV models accordingly, they said.<\/p>\n

It will have an independent sales team and will open showrooms in city centres, some with dealers and some self-managed where it will directly control pricing and inventory, two of the people said.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SHANGHAI (Reuters) – China\u2019s Geely plans to set up a firm to explore new approaches to product planning, marketing and sales of electric vehicles (EV), […]<\/p>\n","protected":false},"author":3,"featured_media":107448,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nGeely departs from convention with plan for new EV unit: sources - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/geely-departs-from-convention-with-plan-for-new-ev-unit-sources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Geely departs from convention with plan for new EV unit: sources - Fin2me\" \/>\n<meta property=\"og:description\" content=\"SHANGHAI (Reuters) – China\u2019s Geely plans to set up a firm to explore new approaches to product planning, marketing and sales of electric vehicles (EV), [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/geely-departs-from-convention-with-plan-for-new-ev-unit-sources\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-19T05:48:28+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/02\/cnewsfotor2-9.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/geely-departs-from-convention-with-plan-for-new-ev-unit-sources\/\",\"url\":\"https:\/\/fin2me.com\/markets\/geely-departs-from-convention-with-plan-for-new-ev-unit-sources\/\",\"name\":\"Geely departs from convention with plan for new EV unit: sources - 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