Geely’s Zeekr 001 takes on Tesla’s Model 3 with 10% price cut as discounts deepen in China’s EV market
- The new versions of the 001, equipped with upgraded electric motor, battery and autonomous driving system, are priced 10 per cent lower than the previous make
- Zeekr’s sales rose 65 per cent year on year to 118,685 units in 2023
The refreshed versions of the Zeekr 001, which competes with Tesla’s Model 3, are now priced at 269,000 yuan (US$37,367) to 329,000 yuan, compared with 300,000 yuan to 386,000 yuan for the previous editions, the carmaker said on Tuesday evening.
The new 001 will be equipped with a raft of cutting-edge technologies, including upgraded electric motor, battery and autonomous driving system to offer drivers and passengers extreme comfort and safety, Zeekr said.
“To compete in the cutthroat market, EV assemblers including BYD and Zeekr are embarking on a low-price strategy with upgraded versions to attract buyers,” said Zhao Zhen, a sales director with Shanghai-based dealer Wan Zhuo Auto. “More companies will be forced to cut prices to maintain market share.”
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The new Zeekr 001 is equipped with silicon carbide-powered e-motors, enabling it to reach zero to 100 kilometres per hour in 3.3 seconds, 0.5 seconds faster than the previous model.
The 400-volt electrical system is upgraded to 800 volts, allowing the Shenxing batteries made by Contemporary Amperex Technology to give a driving range of 256km after just five minutes of charging. The basic edition of the new Zeekr 001 can go 675km on a single charge, compared with 546km for the old version.