BEIJING: China's Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo owner looks to take on its main EV rival Tesla with higher-end vehicles.
It will be a new attempt to go up-market by Geely, and backs founder and Chairman Li Shufu's long-held ambition to make premium cars"like Mercedes-Benz" in a bid take on EV leader Tesla Inc. The plan follows a flurry of tie-ups by Geely earlier this year as the automaker pursues its goal of becoming a leading EV contract manufacturer and engineering service provider."Traditional gasoline cars and electric vehicles are two race tracks of business. Geely does not have a clear advantage in electric vehicles at the moment so it appears that it wants to complete its own innovation by creating a new brand," said Alan Kang, analyst at auto consultancy LMC Automotive.
Hangzhou-based Geely also plans a broad array of sales and marketing strategies to seek deeper relationships with the EV buyers. It will open lifestyle lines for clothing and accessories and launch a car owner's club, tactics used by Nio, sources said.
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