GELYY - Chinese EV Brand Zeekr Eyes European Manufacturing To Avoid EU Tariffs: Report | Benzinga
Chinese auto conglomerate Geely’s luxury EV brand Zeekr Intelligent Technology Holding Ltd (NYSE:ZK) is reportedly exploring manufacturing cars in European factories associated with its parent company to circumvent European Union tariffs and expand its global presence.
Currently, all Zeekr vehicles are produced in China and face a 19.9% duty on EU imports, reported Bloomberg.
Zeekr Chief Executive Officer Andy An stated in an interview that they are actively working on localizing production in Europe, with plans to utilize existing facilities within the Geely group or its European partners rather than building new factories.
Local manufacturing in other regions is also being considered. Geely has Volvo Cars AB (OTC:VLVCY) plants ...