Zeekr launches compact electric SUV, targets European market

© Reuters

By Michael Elkins

Chinese electric vehicle maker Zeekr announced Wednesday that the automaker launched a compact, all-electric sport utility vehicle, as it targets a premium market in China that has been dominated by German automakers. The company also announced plans to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Western Europe, but would not disclose when that would be.

With a starting price of 189,800 yuan (CNY 1 = $0.1454) in China, the Zeekr X offers features such as facial recognition to unlock the car and an option for an in-vehicle refrigerator, Chief Executive Andy An told an event in China's southwestern city of Chengdu.

The company will start delivering the Zeekr X in China from June with a target of delivering 40,000 this year, An said.

An said Zeekr would provide more details on its strategy for overseas sales at the Auto Shanghai show, scheduled for April 18-27. After Europe, Zeekr will target Asian markets outside China, An said without providing details.

In targeting Europe, Zeekr joins a range of Chinese automakers that are selling or planning to deliver EVs for that market, including BYD (OTC:BYDDY), Xpeng (NYSE:XPEV) and SAIC's (SS:600104) MG brand.

The Geely-owned (OTC:GELYY) EV maker has jointly developed a small EV for use as a robotaxi in partnership with Alphabet's (NASDAQ:GOOGL) self-driving technology unit Waymo. However, An said Zeekr had no current plan to sell its EVs directly to U.S. consumers.

Zeekr sold 15,234 of its two existing models - the 001 sedan and the 009 multi-purpose vehicle - in the first quarter, accounting for just 2% of China's battery electric vehicle sales. By comparison, Nio (NYSE:NIO) sold 31,041 vehicles in the same period while Tesla (NASDAQ:TSLA) sold 137,429.

Zeekr aims to double annual sales in 2023 to about 140,000 vehicles.