FYI: China’s Zeekr Brand Targets Global Markets With New 7X Crossover, Eyeing Tesla’s Dominance
China’s Zeekr brand, a subsidiary of the Geely Group alongside Volvo and Lotus, is making significant strides in the EV market. From offering a sports sedan to preparing an upcoming robotaxi set to hit U.S. roads, Zeekr is looking like a potent competitor to Tesla. It seems Geely is achieving with Zeekr what it once aimed for with Polestar.
Zeekr Readies 7X Crossover For Europe, Has Global Ambitions
We at Automotive.fyi like to stay ahead of the curve. Kevin Williams, our EV correspondent, has been spotlighting Zeekr all year. With recent milestones like its listing on the New York Stock Exchange and a deal with Google’s Waymo to supply next-gen robotaxis, Zeekr is poised for a significant global presence.
The Zeekr 7X Crossover has garnered much attention. Scheduled to launch in China on September 20, this midsize electric SUV significantly undercuts Tesla’s Model Y pricing, coming in at 239,900 yuan ($33,829).
Zeekr 7X: Specs and Market Strategy
The five-seater Zeekr 7X will feature two battery options, enabling a driving range of 605 to 780 kilometers (approximately 376 to 485 miles) on a single charge. Zeekr claims these lithium-ion phosphate batteries can achieve a 75% charge in just 10.5 minutes, positioning them as the fastest-charging batteries in the market today.
While Zeekr hasn’t specified all the global markets for its launch, Europe is a strong candidate for 2025, with considerations for local production to bypass tariffs.
Polestar’s Struggles and Zeekr’s Promise
Zeekr seems to represent a second chance for Geely, given Polestar’s somewhat unsuccessful attempt to capture the EV market. Despite its innovative designs, Polestar’s EV strategy was stymied by high costs and protective tariffs against Chinese products. Geely aims to avoid these pitfalls with Zeekr, offering original products and a refined strategy in light of modern EV market dynamics.
Polestar’s Obstacles
Not to diminish Polestar’s efforts, but the brand is facing various challenges. Despite an 80% rise in sales last quarter, Polestar reported a $242.3 million operating loss for Q2. Competing against emerging Chinese EV makers and contending with high inflation have led to dwindling EV demand, putting more pressure on Polestar to offer discounts.
Genesis Looks to Hybrids and New Platforms for Growth
In other news, Genesis, part of the Hyundai Motor Group, is also ramping up its commitment to hybrid models and new EV platforms. Given the slow build-out of EV charging infrastructure, hybrids remain appealing to mainstream consumers. Genesis plans to phase out gasoline-powered models by 2025 and become fully electric by 2030.
Will Zeekr Make a Global Impact?
The Zeekr 7X is shaping up to be a formidable competitor. The brand is brimming with potential, from innovative battery technology to competitive pricing and a strong global strategy. The question is: Would you consider buying a Zeekr if it becomes available in your market?
For more insights and updates, reach out to us at tips@automotive.fyi, or on Twitter @automotivefyi.
William Kouch, Editor of Automotive.fyi
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