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Automotive Industry
According to CEO Andy An, Geely’s premium electric brand Zeekr wants to increase its annual sales to 650,000 electric cars by 2025 and is planning more models for this purpose. But sales are also expected to increase through expansion into other markets.
Zeekr delivered 71,941 electric cars in 2022 and plans to nearly double that to 140,000 units in 2023. The almost 72,000 units from the previous year were all still accounted for by the Zeekr 001, which has been built since October 2021. A second series, the large 009 electric van, was added only this January. The more affordable compact model Zeekr X is expected to provide a further boost in unit sales.
In order to reach the targeted sales of 650,000 e-cars in 2025, Zeekr is planning new models. The existing trio of models 001, 009 and X are to be joined by an e-sedan at the end of this year and two new e-SUVs in 2024. Details are not yet known – but it is likely that the new models will also be based on Geely’s SEA platform. All that is said so far is that Zeekr will step up its efforts to “introduce models that meet the needs of the mass market”.
The Shooting Brake 001 and the MPV 009 are rather niche models, especially in China, and these niches can bring good margins, but usually only manageable numbers. The Zeekr X, on the other hand, is aimed at a growing market. According to CEO Andy An, the new models will also target mainstream segments in order to increase sales.
The brand also plans to expand internationally – to six overseas markets in 2024 and eight in 2025. No specific countries were mentioned at Geely’s half-year results. However, Zeekr announced its European strategy in April and later started pre-selling the 001 and X in Sweden and the Netherlands. Zeekr has also entered into sales cooperation agreements with import companies for the rather smaller markets of Israel and Kazakhstan.
Incidentally, Andy An also made it clear that Zeekr would continue to focus purely on battery-electric vehicles in the future. Other Chinese NEV manufacturers, for example, Leapmotor, had also supplemented their BEV portfolio with hybrid or electric cars with range extenders in order to increase sales.