HNHAF - EV roundup: Geely launching new Tesla competitor; Foxconn circles Taiwan tie-up

Volvo owner Geely (GELYF) plans to roll out a new electric vehicle line with different branding and revised sales strategies to compete with Tesla in the high-end vehicle space, according to Reuters sources.The Zeekr brand will be launched under Geely's forthcoming Lingling Technologies EV business. The vehicles will be based on the open source Sustainable Experience Architecture EV chassis that Geely announced late last year.Geely will follow Tesla's sales model for the new vehicles, creating showrooms or "hubs" in city centers rather than selling through dealerships.In other EV news, Foxconn (HNHAF) has reportedly offered to acquire the EV production lines owned by VinFast, a unit of Vietnam's largest conglomerate, Vingroup.But Reuters sources say VinFast would prefer a partnership to a sale.Vingroup has confirmed early stage talks with Foxconn abouta potential partnership focusing on battery and electric car part development.VinFast sold about 30,000 vehicles in 2020 and forecasts more than 45,000 vehicle sales for 2021.EV stocks

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EV roundup: Geely launching new Tesla competitor; Foxconn circles Taiwan tie-up