Key facts
- Chinese EV maker Zeekr predicts that Chinese brands will soon rank among the top five global luxury vehicle manufacturers.
- Zeekr's vice-president, Mars Chen, cited a gap in the luxury electric vehicle market and Chinese manufacturers' technological advancements as reasons for this potential shift.
- Established German luxury brands like Mercedes-Benz, BMW, and Audi are facing sales declines and losing market share in China.
- Chinese domestic brands now hold over 50% of the luxury car market in China for vehicles priced at 400,000 yuan (US$59,000) or more.
- Zeekr plans to expand its presence in Europe by entering markets such as France, the UK, Italy, and Spain in 2026.
- The company is also exploring the introduction of plug-in hybrid models in Europe, which could help it circumvent EU tariffs on fully electric vehicles.
Chinese electric vehicle (EV) manufacturer Zeekr believes its brands are positioned to challenge and potentially surpass established European luxury marques. According to Zeekr vice-president Mars Chen, there is a significant demand for luxury electric cars that current supply cannot meet, an area where Chinese automakers can excel.
Chen expressed confidence that one or two Chinese brands will soon be counted among the top five global luxury vehicle manufacturers. He pointed to the struggles of German giants Mercedes-Benz, BMW, and Audi, which have seen year-on-year sales declines and are losing substantial market share in China, their former stronghold. Data from the China Passenger Car Association indicates that domestic brands now command over 50% of the market for cars priced at 400,000 yuan (approximately US$59,000) or more.
Zeekr, a subsidiary of Geely Automobile Holdings, is actively pursuing international expansion. The company plans to enter additional European markets, including France, the United Kingdom, Italy, and Spain, in 2026. To navigate potential European Union tariffs on Chinese-made EVs, Zeekr is also considering the introduction of extended-range plug-in hybrid models in the region. This strategy aligns with the continued demand for plug-in hybrids in the European market and the extended sales window for such vehicles following the EU's revised ban on fossil-fuel cars.
Zeekr has already established a presence in 12 European markets, including Germany, and aims to significantly expand its dealer network. The company has also developed autonomous driving technology in collaboration with Waymo and utilizes advanced batteries from CATL, enabling extended electric ranges.