(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.) MELBOURNE (Reuters Breakingviews) - GEELY WHIZZ. Another week, another Zhejiang Geely plan to monetise one of its automotive businesses. This time, Lotus Cars appears to be in pole position for a spinoff, or perhaps just a capital raise for its electric-vehicle unit, Bloomberg reported on Wednesday. The former could value the business at more than $15 billion. Lotus Cars brought in perhaps $135 million in revenue last year, based on the 2019 figures available on Refinitiv and the 4.4% vehicle-sales growth the firm reported for last year. That’s hardly enough to justify a valuation of 111 times trailing sales. Ferrari sports a mere 10 times multiple. It’s far racier than the $20 billion Zhejiang Geely founder Li Shufu last month appeared to think a publicly traded Volvo would be worth. Of course, he’s also trying to start a new electric-vehicle company and launch a satellite network, all while publicly traded Geely Automobile’s earnings disappoint. So raising capital looks smart – but someone needs to take their foot off the valuation accelerator. (By Antony Currie)