Nov 01, 2022 08:24 AM

BUSINESS

Geely Plans to Spin-Off, List Premium EV Unit

By An Limin and Guo Yingzhe

Photo: Courtesy of Zeekr

Photo: Courtesy of Zeekr

Chinese automaker Geely Automobile Holdings Ltd. plans to take public its premium electric-vehicle (EV) unit Zeekr Intelligent Technology Co. Ltd., according to a Monday filing.

The spin-off is a bold move by the Volvo AB owner, floating the subsidiary at a time when investor sentiment toward China’s major EV startups such as Nio Inc. and Xpeng Inc. is cooling, wiping billions of dollars from their market capitalization.

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