HONG KONG -- Geely, China's largest private-sector carmaker, on Tuesday announced the launch of a new electric vehicle unit, the latest in a string of recent initiatives that have included forming partnerships with Tencent, Baidu and Foxconn.
Total initial investment in the new China-focused Zeekr unit will be 2 billion yuan ($307 million), with 51% coming from Hong Kong-listed Geely Automobile Holdings and the other 49% from parent Zhejiang Geely Holding Group.
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