Geely Unveils Zeekr Premium-EV Brand To Rival Tesla in China
- on April 13, 2021
- Categories: News
Chinese are fast adopting the electrified powertrains, and China’s biggest automaker Geely knows about it very well. The Zhejiang Geely Holding Group has decided to launch a new dedicated Premium-EV brand Zeekr that will primarily compete with Tesla. The first Zeekr EV will arrive this year, the company said in a statement.
Reuters earlier disclosed the company’s plans to develop luxury electric vehicles to go after Tesla. Regarding the new EVs, Geely's founder and chairman, Li Shufu, said that they would use the Sustainable Experience Architecture (SEA) platform that the brand introduced last fall.
Not only Geely but its sub-brand Volvo will also employ SEA architecture and a battery pack developed by Chinese battery maker CATL. Last year, Geely told us that this pack would last for two million kilometers, or about 1.2 million miles.
Reuters also revealed that Zeekr would sell its EVs in showrooms at a set price, just like Tesla. The Zeekr EVs will only be accessible for Chinese customers initially. However, the brand will not shy to export its products to the most demanding markets.
EV adoption in China is increasing rapidly, making it one of the largest electric-vehicle markets thanks to government grants and investment in charging networks. According to a prediction of Xu Haidong, deputy chief engineer of China Association of Automobile Manufacturers, EV sales will grow by 40% in 2021 compared to the last year with 1.8 million sales. In the next four years or so, the sale may extend to six million.
Geely is not the only automaker taking EV manufacturing seriously in China. Nio and Xpeng are also at work to grab their fair share of the market. Tesla’s Shanghai factor already makes it the biggest EV maker in China, with demands growing fast, so it is time for Chinese automakers to take the plunge.