Zeekr Intelligent Technology, the premium electric vehicle (EV) maker owned by Geely Auto, has unveiled a new sport-utility vehicle (SUV) to take on Tesla’s best-selling Model Y as competition heats up in the fast-growing but crowded Chinese market.
The all-electric mid-size SUV, known as the Zeekr 7X, is the fifth production model from a company that saw deliveries increase 66 percent in the second quarter.
The vehicle, which debuted Friday at the Chengdu Auto Show, will come in a right-hand drive variant for export markets in the future, Zeekr said. The 7X will be offered with two battery options that can travel up to 605 km or 780 km on a single charge, Zeekr said, without disclosing list prices.
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The batteries have the fastest charging capacity in the world, Zeekr said. The short-range edition, powered by the company’s proprietary lithium-ion phosphate (LFP) battery, features 800-volt ultra-fast charging technology, which can deliver nearly 250 miles of range after just 10.5 minutes of charging.
A Model Y on display at Tesla’s booth during the World Internet of Things Exposition in Wuxi on October 21, 2023. Photo: Bloomberg. alt=A Model Y on display at Tesla’s booth during the World Internet of Things Exposition in Wuxi on October 21, 2023. Photo: Bloomberg.>
The 7X is built on the open-source Sustainable Experience Architecture (SEA) platform that Geely launched in late 2020. The platform supports a wide range of battery-powered vehicles, from passenger cars and SUVs to vans and trucks.
“The Model Y has been the target of numerous Chinese rivals as the midsize SUV segment attracts a wide range of customers,” said Chen Jinzhu, CEO of Shanghai Mingliang Auto Service, a consulting firm. “Zeekr has emerged as a strong premium electric carmaker and will become a new challenger to Tesla and the Model Y.”
The Shanghai-produced Model Y, which starts at a base list price of 249,900 yuan (US$35,239), is the best-selling mid-size SUV in mainland China, outselling all electric and petroleum-powered models. Tesla’s Gigafactory delivered 244,000 Model Y vehicles to customers in the mainland in the first seven months, up 53.6 percent from the same period last year.
The Zeekr brand delivered 54,811 cars to Chinese and foreign buyers in the second quarter, more than double the same period last year.
Strong shipments helped Zeekr’s second-quarter revenue rise 36 percent to a record 20 billion yuan, helping the automaker cut its net loss 10.5 percent to 1.81 billion yuan, according to quarterly results released last week.
Zeekr is offering discounts to attract more buyers in the Chinese market, where electric vehicles accounted for more than 50 percent of car sales in July.
Of the roughly 50 electric car assembly companies in mainland China, only BYD, the world’s largest maker of electric cars, and Li Auto, Tesla’s biggest rival in China, have made a profit.
All of the existing models Zeekr builds are fully electric cars, but the company said last week it would design and build its first hybrid models to gain market share. Those models are set to launch in the second half of 2025.
This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, explore the SCMP app or visit the SCMP Facebook page and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.
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