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A new luxury EV IPO from Geely is reportedly in the works

Credit: Geely Holdings

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Geely, a Chinese auto group, is reportedly pursuing an initial public offering in the United States for its new luxury EV brand, Zeekr.

For those unfamiliar, Geely is a Chinese auto group that controls many notable brands, including Volvo, Polestar, and Lotus, as well as countless Chinese brands, including Geely’s own Geely Motors. Recently, they started yet another brand, Zeekr, which would be dedicated to luxury EVs. According to Reuters, Geely is pursuing an IPO for the new brand to raise capital.

According to anonymous sources who commented to Reuters, Geely is pursuing a $10 billion valuation for the fledgling Zeekr brand, up from the private funding round that valued the brand at $9 billion. However, much of this valuation comes from the prospect of Geely’s involvement, as Zeekr currently only lists two vehicles for order on its site; the 001 crossover and the 009 minivan.

The anonymous sources stated that the company hopes to have the IPO available in Q2 2023 and aims to secure over $1 billion in funding. Otherwise, the report lacked any significant details.

Zeekr was established in 2021 alongside its 001 crossover vehicle at the Shanghai Auto Show, but very little is known about the brand or its first vehicle(s). According to the Geely Holdings website, “ZEEKR is a new electric mobility technology, and solutions brand satisfying the global demand for premium electric vehicles.” Zeekr’s official website, which lists its two models for reservation, does have a few more details. Both of the brand’s vehicles produce 400kW (543 horsepower) of power, go 0-60 in roughly 4 seconds, and achieve approximately 800km (497 miles) of range in China’s CLTC range estimate.

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Zeekr has previously announced that it will be working to introduce its products to Europe, but it is unclear if it intends to come to other major markets. Furthermore, the company has yet to announce when its vehicles will be available outside of China.

Geely faces an uphill battle with Zeekr. Unlike affordable EV offerings, there are countless luxury EV options from Tesla, Mercedes, BMW, Audi, Porsche, and even Geely’s own Volvo and Polestar. But with so many details about the upstart brand still hidden, there is no telling how the company plans to differentiate itself or how consumers will react.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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EVs getting cleaner more quickly than expected in Europe: study

Battery-electric vehicles are still championing emissions reductions, and a new analysis suggests they’re doing so even more quickly than previously expected.

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Credit: Tesla

As Europe’s electricity mix is getting cleaner, battery-electric vehicles (BEVs) are also offering a larger climate advantage than previously expected, according to the results of a new study released this week.

On Wednesday, the International Council on Clean Transportation (ICCT) released a study noting that BEVs sold today produce 73 percent fewer life-cycle greenhouse gas emissions than internal combustion engine (ICE) vehicles, even factoring in production. This figure also represents a 24-percent improvement upon the organization’s 2021 estimates for this year, meaning that BEVs are getting cleaner more quickly than expected as the continent’s renewable programs continue to grow.

The study was comprised of a comprehensive life-cycle analysis of all major powertrain types, and the results suggest that BEVs are the only widely available powertrain that can slash emissions levels enough to meet climate goals. By contrast, the study’s results suggest that other clean energy powertrains, such as hybrids and plugin hybrids, only have a marginal impact, if any, on reducing the overall climate impact of the transportation sector.

“Battery electric cars in Europe are getting cleaner faster than we expected and outperform all other technologies, including hybrids and plug-in hybrids,” says ICCT researcher Dr. Marta Negri. “This progress is largely due to the fast deployment of renewable electricity across the continent and the greater energy efficiency of battery electric cars.”

Credit: International Council on Clean Transportation (ICCT)

READ MORE ON ELECTRIC VEHICLES: Study reveals hybrids could have up to 4.9x lifetime emissions vs. BEVs

ICCT Senior Researcher Dr. Georg Bieker says he also hopes the analysis can help fight misinformation regarding BEV powertrains. For example, he notes that, while it’s true that manufacturing emissions for BEVs can be up to 40 percent higher than for ICE vehicles, this is quickly offset by an electric automobile after just around 17,000 km (~10,563 miles) of driving.

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“We hope this study brings clarity to the public conversation, so that policymakers and industry leaders can make informed decisions,” Dr. Bieker says. “We’ve recently seen auto industry leaders misrepresenting the emissions math on hybrids. But life-cycle analysis is not a choose-your-own-adventure exercise.”

Additionally, the ICCT study covers emissions from both vehicle and battery production, recycling, fuel and electricity production, fuel consumption, and maintenance.

“Our study accounts for the most representative use cases and is grounded in real-world data,” Dr. Bieker adds. “Consumers deserve accurate, science-backed information.”

U.S. EV adoption still on pace to reach 50% by 2030: data

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Tesla executive teases plan to further electrify supply chain

One of Tesla’s top executive hints at how Tesla is further electrifying its supply chain.

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Credit: Andrea Conway/X

A high-level Tesla executive has said the company is working to further electrify its supply chain, following a successful road test with the Semi this week.

After Tesla supplier thyssenkrupp completed a successful 5,000-mile winter trial with the Semi this week, Dan Priestley, the company’s Director of Semi Engineering, noted on X that the demonstration is a part of larger efforts to electrify more of the supply chain. The executive said that the company is already working to help suppliers like thyssenkrupp implement the Semi into their operations, particularly due to its cost savings and reliability.

Following the thyssenkrupp demo, the supply chain company has also begun integrating the Semi into its fleet, and Priestley suggests that more are still to come:

Working with our suppliers and logistics partners to electrify Tesla’s supply chain. With lower cost and higher reliability, it just makes sense. thyssenkrupp pushed the truck hard over this demo and now plans to integrate Semi into their fleet.

READ MORE ON TESLA SEMI: Tesla Full Self-Driving displays impressive collision avoidance with Semi

Tesla Semi factory nears official production as trials continue to impress

Tesla’s early Semi trials received positive results from both thyssenkrup and ArcBest’s ABF Freight this week, with the latter company logging 4,494 miles during a pilot period, and averaging 321 miles per day despite a 7,200-foot climb over Donner Pass.

The company has also been constructing a factory for volume Semi production at its Gigafactory in Nevada, and in recent weeks, the plant is looking nearly complete. Semi frames have been spotted in increasing numbers outside the facility recently, suggesting that Tesla is nearing early production on site.

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The company also hired more than 1,000 workers for the Semi factory in April, while the plant is eventually expected to produce as many as 50,000 Semi units annually.

Tesla reveals Semi fleet data, shows off new feature and infrastructure plans

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Tesla Semi completes 5,000-mile winter trial with thyssenkrupp

The test covered nearly 5,000 miles in winter conditions.

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Credit: Tesla Semi/X

thyssenkrupp Supply Chain Services has completed a three-week pilot of the Tesla Semi at one of its California logistics hubs, marking a new step in the company’s sustainability push. The test covered nearly 5,000 miles in winter conditions and focused on evaluating the electric Class 8 truck’s efficiency, transparency, and operational performance.

Tesla Semi offers efficiency gains and real-time logistics visibility

During the pilot, the Tesla Semi was used for active freight delivery, including routes over the Altamont Pass. thyssenkrupp evaluated the vehicle’s ability to reduce downtime, enhance delivery speed, and offer greater real-time supply chain visibility, the company noted in a press release.

Live diagnostics and performance monitoring allowed the logistics provider to track metrics such as speed, routes, and overall efficiency—data that supports smarter and more transparent logistics operations.

“The Tesla Semi aligns with our ongoing commitment to sustainability and operational excellence,” said Bob Denehy, Chief Commercial Officer at thyssenkrupp Supply Chain Services. “Its efficiency and diagnostic features, and low environmental impact make it a natural fit for our evolving logistics strategy.”

Pilot builds on long-term partnership with Tesla and green energy goals

A logistics partner to Tesla since 2015, thyssenkrupp Supply Chain Services was one of the first companies selected to test the Tesla Semi in a real-world setting. The trial reinforces the company’s push into renewable energy logistics and reflects its long-term goal of integrating alternative-fuel technologies across its operations. 

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Plans are now underway to begin adding electric Semis to its fleet as part of a wider emissions-reduction effort. The pilot is thus the latest example of how logistics providers are embracing next-generation transport technologies to meet environmental goals and enhance supply chain performance.

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