Zhejiang Geely Holding Group Co., the Chinese company whose secure of manufacturers features Volvo and Lotus, stated the underpinnings of a new electric powered model coming subsequent 12 months will be provided up to other producers.

The architecture Geely formulated for the Lynk & Co. Zero Notion unveiled Wednesday is an open up-resource platform obtainable for other companies to use. Geely is in talks to license the technological know-how to numerous other producers, such as Daimler, according to a Geely spokesperson.

“Our improvement of this transformative electric powered-motor vehicle architecture marks the most significant leap ahead at Geely in additional than a decade,” Li Shufu, the automaker’s billionaire founder, stated in a statement. “This significantly-reaching innovation will tremendously broaden the volume and scalability of our zero-emission designs.”

Though demand for electric powered cars is outpacing cars jogging on combustion engines, they even now stand for a smaller part of global gross sales. With batteries even now many years absent from rivaling gasoline-run cars in price, automakers around the globe are becoming a member of forces to share the burden of bringing EVs to marketplace.

Geely invested four many years and eighteen billion yuan ($2.sixty five billion) establishing the architecture, An Conghui, the Hangzhou-based mostly company’s president, told reporters at a presentation ahead of the 2020 Beijing Worldwide Automotive Exhibition, which kicks off later on this week. It will underpin EVs that are envisioned to supply as a lot as 435 miles of driving range among expenses.

The carmaking team run by Li, who is well worth about $17.8 billion, bought around 2.2 million cars final 12 months. It is Daimler’s most significant shareholder with an practically 10 p.c stake.