Pictured is the Zeekr 001 electric car at the service trade fair in Beijing on August 31, 2023.
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BEIJING – Chinese electric vehicle brand Zeekr is selling more cars Tesla in some parts of China and plans to expand into Europe and Latin America this year, Zeekr CEO Andy An told CNBC on Wednesday.
The sales momentum comes as Elon Musk's automaker reports Global quarterly revenue fell the most since 2012.
“We have outsold Tesla in some areas,” An said in Mandarin, as translated by CNBC. Our sales gap with Tesla is increasingly narrowing.”
In the first three weeks of April, Zeekr sold 500 more units than Tesla in Zhejiang province, where Zeekr and parent company Geely are headquartered. Zeekr also sold slightly better than Tesla in Anhui province, near Shanghai, and Guangxi, an autonomous region in southern China.
That's according to data shared by Zeekr. Tesla did not immediately respond to a request for comment.
According to consumer information site Autohome, Tesla's Model Y retained its top-selling position in China in the first three months of the year, when considering all-battery electric vehicles with a price tag of at least 200,000 yuan. currency (28,169 USD).
BYD The data shows the models holding second and third place, while Tesla's Model 3 ranked fourth. According to the data, Zeekr's two sedan models 001 and 007 ranked 11th and 12th, respectively. The company's 009 multi-purpose electric vehicle is also one of the five best-selling models in the price segment of 500,000 yuan or more.
XiaomiThe company's new SU7 electric sedan has a starting price of 215,900 yuan, slightly higher than Zeekr's 007 but lower than Tesla's Model 3.
When asked about Xiaomi car launch ceremonyAn declined to comment on his opponents. But he said the two companies are different in strategy, culture and resources.
At the Beijing Auto Show opening Thursday, Zeekr is revealing a new car architecture that gives consumers 10% to 20% more interior space than a comparable car, An said. on one's own.
“The car of the future is not a simple mobility tool but a smart mobility experience center,” he said, noting that in the new space, families can play play or enjoy a meal.
He said production of such a vehicle would begin later this year.
Expanding beyond China
This year, Zeekr expects overseas sales to increase total revenue, An said. He said the company sells in Sweden and the Netherlands and plans to start selling to six to eight more countries in Europe this year.
In Latin America, Zeekr is “actively rolling out,” An said, without elaborating.
The company is also developing right-hand drive cars, he said, with plans to soon begin sales in Hong Kong and Macao this year and then Singapore.
Many Chinese companies driving the development of electric cars in the fiercely competitive domestic market are looking abroad as major countries encourage a shift away from traditional fuel-powered vehicles. However, the rapid rise of Chinese electric vehicle companies also causes the EU and US to consider measures to protect their own auto industries.
When asked about plans to build factories in foreign markets, An said Zeekr was “actively researching” but could not share details. “Now is the discovery phase, because seeing all the uncertainties in the future, we all need to be fully prepared in advance,” he said.
Long-term support from Geely
Zeekr was founded by a company based in China Geely in 2021, allowing the brand to leverage the automotive group's resources. Geely owns several brands, including Swedish car brand Volvo, formerly owned by Ford Motor.
Mr. An, who is also chairman of Geely Holding Group and Chairman of Geely Auto Group, said that for an auto manufacturer to have long-term success, talent, technology and capital must be intertwined. He says marketing, design or financial advantages alone are not enough to help a company remain competitive.
On the sustainability front, Zeekr says it has a number of initiatives ranging from factory solar power to auto recycling, and has long-standing relationships with remanufacturers and raw materials companies. rough.
Zeekr has filed to go public on the New York Stock Exchange but has not yet shared a listing date. Latest update to its prospectus was April 12, according to the U.S. Securities and Exchange Commission website.
When asked about the IPO plan, An refused to share specific information and said the company will IPO for strategic purposes when market conditions are favorable.
“It's not just for sponsorship,” An said. “More importantly, it is a form of corporate governance for Zeekr's global growth and globalization.”
He pointed out that although Zeekr still operates at a loss, the company still has enough cash flow and parent company Geely is making money.
