targeting

Geely targeting Tesla with new premium EV brand called Zeekr

BEIJING — China’s Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo owner looks to take on its main EV rival Tesla with higher-end vehicles.

The brand, positioned in the premium segment and named “Zeekr”, will be housed under Geely’s to-be-launched EV entity Lingling Technologies, according to three people, who declined to be named as the plan is not yet public. Reuters reported the plans for Lingling last month.

Geely, the owner of Volvo Cars and 9.7% of Daimler AG, will roll

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Exclusive: Targeting Tesla, China’s Geely to launch new premium EV brand – sources

BEIJING (Reuters) – China’s Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo owner looks to take on its main EV rival Tesla with higher-end vehicles.

FILE PHOTO: A building of the Geely Auto Research Institute is een in Ningbo, Zhejiang province, China August 4, 2017. REUTERS/Aly Song/File Photo

The brand, positioned in the premium segment and named “Zeekr”, will be housed under Geely’s to-be-launched EV entity Lingling Technologies, according to three people, who declined to be named

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Why PE firms targeting tech buyouts could face competition from SPACs

Private equity has become a well-established path to liquidity for VC-backed startups, but a rebound in IPO activity and the rise of SPACs could mean more competition for deals.

PE buyouts have gone from representing 9.7% of global VC exits in 2010 to 16.4% in 2020, according to PitchBook data, making them the fastest-growing exit type compared with strategic acquisitions and IPOs. These deals—many of which are tech-focused—have continued into this year. Notable examples include Platinum Equity-backed Cision’s $450 million purchase of Brandwatch from investors including Highland Europe and Nauta Capital, and Vista Equity Partners’ reported $1.1 billion deal for

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