Get all your news in one place.
100's of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Badar Shaikh

Tesla Rival Geely's Zeekr, Neta Inflated Sales Data In China Through Insurance Scheme Amid 'Zero-Mileage' Used Cars Row: Report

Zeekr NETA Geely Tesla Inc. Insurance China Geely Automobile Holdings Ltd
Saint,Petersburg,,Russia,,13,February,2024:,Zeekr,001,Ev,Car

Chinese EV companies Zeekr Intelligent Technology Holdings Ltd. (NYSE:ZK), owned by Geely Automobile Holdings Ltd. (OTC:GELYY) (OTC:GELYF) and Neta Auto, reportedly inflated sales data to hit aggressive sales targets.

What Happened: The companies used China's insurance scheme by booking cars for insurance before they were sold to buyers, with Neta using this method on over 64,719 units from January 2023 to March 2024, Reuters reported on Sunday.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Stark warning – does new footage in Avengers: Endgame reveal the truth about Doctor Doom?
Warning: contains spoilers The four short scenes added to the new version has made the film the highest-grossing of all time – but the only people really enjoying this are the Disney accountants
The Guardian - UK
The Guardian - UK
Students from military families are often misunderstood in US public schools – a retired military officer and behavioral health expert explains what schools can do
Over 1.4 million children had a parent or caregiver who served in the U.S. armed forces in 2024.
The Conversation
The Conversation
Leave the Greenland sharks alone
A bounty on 1,000 fish hearts is as barbaric as it sounds
Salon
Salon
63 Celebrity Lookalikes Who Look Like They Were Separated At Birth
If you have ever mistaken Amy Adams for Isla Fisher, you are not alone, bad with names, or imagining things. We’ve all been there. Even Jeffrey Dean Morgan gets approached in airports and grocery stores by fans who mistake him for Javier Bardem and immediately start speaking Spanish. Celebrity doppelgängers…
Bored Panda
Bored Panda
Why Does Deli Meat Get Slimy Even Before the Expiration Date?
You open the refrigerator, reach for the deli meat, and notice something feels different. The slices are slippery, sticky, or coated with a thin film, even though the package date says you still have several days left to use them. It is an easy situation to second-guess because deli meat…
Grocery Coupon Guide
Grocery Coupon Guide
French family finds rare Chinese vase in attic, takes it to Sotheby’s in shoebox; sells for €16.18m
An 18th-century Chinese porcelain vase, forgotten in a French family's attic, sold for €16.18 million at Sotheby’s Paris in 2018. The family brought it to the auction house in a shoebox, unaware of its value. Experts identified it as a rare imperial vase made for the Qianlong Emperor, and it…
The Times of India
The Times of India
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play