Zeekr Intelligent TechnologyThe premium electric vehicle (EV) maker controlled by Geely Auto has unveiled a new sport-utility vehicle (SUV) to take on Tesla’s best-seller 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 own lithium-ion phosphate (LFP) batteryfeatures 800-volt ultra-fast charging technology, which can provide a range of almost 400 km 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-built Model Y, which starts at a base list price of 249,900 yuan (US$35,239), is mainland China’s best-selling mid-size SUV, outselling all electric and petroleum-powered models. Tesla’s Gigafactory delivered 244,000 Model Y vehicles to mainland customers in the first seven months, an increase of 53.6 percent compared to 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 approximately 50 EV assemblers on the mainland, only by DThe world’s largest electric car maker, and Li Auto, Tesla’s biggest rival in China, have made profits.
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.
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