The '01' will be aimed at younger buyers in the world's largest automotive market.

China's Geely Automobile has reportedly confirmed plans to reveal its first Lynk & Co vehicle in Shanghai.

The company, which owns Volvo, launched the Lynk car brand to explore a new business model. It will initially be aimed at younger buyers in China before expanding to Europe and the US market.

Lynk's first vehicle will be a crossover known as the '01' and based on Volvo's Compact Modular Architecture (CMA) platform. Designed in Sweden, the model was previewed in concept form last year.

The 01 has been created with car-sharing in mind, integrating a dedicated button to send a digital 'key' to other drivers. The vehicles will be offered with fixed pricing and no down payments, mimicking the business model used for mobile phone service, according to Nikkei.

"The car industry is trying to get more connected. The connectivity industry is trying to be mobile," said Lynk & Co senior marketing executive Alain Visser.

The brand is expected to launch in China in the first quarter of this year, while US and European customers will have to wait until early 2019.