By Clarence Leong


Geely Automobile Holdings Ltd. said Monday that it plans to spin off and list its electric-vehicle business amid the explosive growth in the sector.

The Chinese auto maker's proposal to spin off and separately list Zeekr Intelligent Technology Holding Ltd. has been approved by the Hong Kong stock exchange, where Geely is listed, the company said in a filing.

The company said the terms of the spinoff, including the listing venue, offering size and price range have yet to be finalized.

Zeekr is a non-wholly owned unit of Geely specializing in battery EVs and related components. According to Geely's interim results, Zeekr posted revenue of 8.83 billion yuan ($1.22 billion) and loss of CNY759.1 million for the January-June period.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

10-31-22 0054ET