Shanghai (ZXZC)- Ningbo ZEEKR Intelligent Technology Co.,Ltd., the company operating Geely”s young premium EV brand ZEEKR, has been renamed ZEEKR Automobile (Ningbo Hangzhou Bay New Area) Co.,Ltd. and its only shareholder changed to Shanghai Maple Guorun Automobile Co.,Ltd. from Geely Auto Group, according to the business information provider Tianyancha.

The new shareholder is a subsidiary of Shanghai Maple Automobile Co., Ltd., which is 90% controlled by Zhejiang Geely Holding Group.

ZEEKR 001; photo credit: ZEEKR

After being reached for a comment by a local media outlet, Geely Auto said the withdrawal from ZEEKR is to “put some assets of Geely Auto Group into the listed company system and under the management of ZEEKR.”

ZEEKR is a new electric mobility technology and solutions company created by Geely Holding Group to satisfy the global demand for premium electric vehicles. On April 15, the first ZEEKR-branded production model, the ZEEKR 001, was launched with its presale kicking off at the same time. The vehicle is expected for delivery in October this year.

On June 25, Geely Holding announced the global headquarters of ZEEKR Intelligent Technology Co.,Ltd. will be located in Ningbo, Zhejiang province.

According to a statement released by Geely Automobile Holdings, the listed arm of Geely Auto Group, in late June, the board of ZEEKR Intelligent Technology has passed a resolution to explore different external financing options for the sustainable development of ZEEKR brand.