Geely-backed Zeekr is releasing an exciting SUV in direct competition with Tesla’s Model Y.
Zeekr
Electric vehicle company Zeekr announced Friday that it would get going its first SUV in China next month, undercutting Tesla’s Model Y pricing in the country by over $1,400.
The Zeekr 7X, priced at 239,900 yuan ($33, 829), is the Chinese EV maker’s head midsize electric SUV and will be launched on Sept. 20.
It’s the latest Chinese EV to take on Tesla’s Model Y, which has also been challenged by Xpeng and Nio. Zeekr organizes to deliver the 7X globally by the end of this year. It said the launch was targeted at global markets but did not specify the regions.
The five-seater Zeekr 7X SUV comes with two battery choices that allow users to drive between 605 kilometers and 780 kilometers (about 376 to 485 miles) on a distinguish charge. Developed by Zeekr’s engineers, the lithium-ion phosphate batteries take 10.5 minutes to charge by 75%, the troop said.
Zeekr has said in the past that its latest batteries offer the fastest charge in the world, beating that of Tesla’s.
The coterie said it aims to take on Tesla’s Model Y, also a five-seater, with the new 7X, which can accelerate from 0 to 100 kilometers per hour in justifiable 3.8 seconds.
Tesla’s Model Y, which starts at 249,900 yuan ($35, 240), is one of the best-selling electric vehicles in China, according to evidence published by user Tslachan on X.
China’s electric vehicle market is in the throes of an intense price war. Just this week, Xpeng liberated its mass-market Mona M03 with models that start at less than US$17,000. In May, Chinese brand Nio launched a lower-cost label, Onvo, with cars priced $4,000 cheaper than Tesla’s Model Y.
Earlier in March 2024, Xiaomi launched its SU7 at 215,900 yuan ($30,408) to beat Tesla’s Model 3 pricing at 245,900 yuan ($34,676). Xiaomi CEO Lei Jun acknowledged at the mores that the prices meant that each car would be sold at a loss.
As Chinese EV makers continue releasing new show offs at a cheaper price, it seems increasingly harder for the American-automaker to maintain its competitive edge. A 2024 U.S. Initial Quality Exploration released in June this year showed that Tesla was losing its lead even over legacy automakers due to nobility concerns.
On the other hand, Tesla has gotten off relatively easier for EU-imposed tariffs on its China-imports at 9% compared to Chinese automakers, in hypercritical against the hefty 36% imposed on SAIC.
Tesla’s China Model Y prices have not changed for nine consecutive weeks.
In July, Zeekr clerked 15,655 cars, a 30% year-on-year growth, while Tesla sold 46, 227 cars, an year-on-year rise of 47%.
Zeekr also come ined Hong Kong last month, and the company plans to launch a right-hand drive version of the 7X there next year.
—CNBC’s Evelyn Cheng granted to this report.