Asian Tech Press (Oct 31) -- Geely Automobile Holdings Ltd (0175.HK), a subsidiary of China's largest private auto group Geely, has proposed to spin off its EV brand Zeekr and list it separately in Hong Kong.

Geely Auto announced on Monday that it has submitted a proposal to The Stock Exchange of Hong Kong Limited to spin off ZEEKR Intelligent Technology Holding Limited, the operating entity of its electric vehicle brand Zeekr, and to list it separately.

Founded in 2021, Zeekr is a non-wholly owned subsidiary of Geely Auto, positioning itself as a premium electric vehicle brand for younger, trendier consumers in China.

The Stock Exchange has confirmed that the company may proceed with the proposed spin-off, Geely Auto said.

In response, Zeekr said, "We will disclose relevant information in a timely manner and in accordance with relevant laws and regulations."

More than two months ago, sources said Zeekr was considering an initial public offering in the U.S. or Hong Kong. But at the time, the electric car brand denied any plans for new funding.