By Greg Gao

Chinese auto manufacturer Geely plans to spin off its high-end Zeekr(极氪) electric vehicle brand and separately list the unit, according to the proposal the company filed on October 31 to the Hong Kong stock exchange, where Geely is listed.

The terms of the proposed spin-off, including listing venue, offering size, and price range for Zeekr have not been finalized, the company said in a statement.

Geely Automobile launched Zeekr in April 2021 as a premium brand targeting young and trendy customers. The brand is principally engaged in the R&D and sales of electric vehicles, batteries, other components, and related services.

The EV brand delivered 8,276 Zeekr 001 new cars in September, hitting a record high for three consecutive months, with the total shipment reaching 45,481 units. Its shipment in the third quarter was 20,464 units, an increase of 90% month-on-month, 

Zeekr’s second model ZEEKR 009, a pure electric MPV, was scheduled to be unveiled on November 1. It uses CATL’s new high-integrated Qilin battery.