Report: In Direct Challenge to Tesla, Geely Planning Luxury Electric Vehicle Line
A potential competitor is barreling toward Tesla (NASDAQ: TSLA), it seems. Reuters, citing "people familiar with the matter," wrote in a story published Friday that China-based carmaker Geely (OTC: GELYF) intends to launch a line of high-end electric vehicles (EVs).
Those cars will carry the brand name Zeekr, and will fall under the Lingling Technologies EV unit the company is currently establishing. They are to be built on the open-source Sustainable Experience Architecture chassis Geely has developed. Cribbing a page from Tesla's book, the vehicles will be sold at dedicated stores rather than the dealerships that still dominate major automobile markets.
Image source: Getty Images.
Source Fool.com
