Geely-owned Lynk & Co announces European entry
The company will enter the European market with the release of its 01 SUV and a unique business model.
If you've never heard of Lynk & Co, then you are not alone, for this company that sits between Geely and Volvo has until recently sold its cars in China. Now however, the company has expanded its operations to Europe, which includes its business model that allows people to rent their cars on a single-use or month-by-month basis.
The first car to enter the European market, called the 01, will be offered on the membership basis or €500 (£456) per month. 'Free members' will be able to use paid members’ cars on a single-use basis. The company also allows members to lower their costs by sharing their car with others.
It would also be possible to buy the car outright in Europe like in China, although the final prices have not been confirmed yet. However, it's expected that it will be more grand than the £18,000 tag on the Chinese market.
However, it has been confirmed that the car will share a number of aspects with the Volvo XC40, including two electrified powertrain options, the factory in which it will be built in and the Compact Modular Architecture platform.
The car does sound like a promising cheap environmentally-friendly vehicle - which is a surprise considering the fact 1.6 million people in China die each year from air pollution - that many would be able to buy, although I do not favour the practically car-sharing-based business model of the company. Still, I am excited for what the company has to bring to the European table.