Chinese EV manufacturer Zeekr initiates strategic expansion into South Korean market
Zeekr's entry signifies growing competition and expanded EV choices in South Korea
South Korea’s EV market is expanding fast, but most options are mostly limited to Tesla and local brands like Hyundai and Kia. Now, Zeekr, a premium EV brand from China’s Geely Group, is stepping in to change that.
Zeekr recently set up a Korean subsidiary, Zeekr Intelligent Technology Korea Co., Ltd. (Zeekr Korea), signalling its seriousness about entering the South Korean market. The company plans to import, distribute, and service EVs and related products, including developing and manufacturing batteries.
This move comes right after BYD, another major Chinese EV maker, officially entered South Korea’s EV market in January. This is set to make the competition in South Korea’s EV scene more intense.
Zeekr’s expansion strategy includes trademarking its logo and preparing to launch its SUV model, the 7X. Reports suggest that the 7X rear-wheel drive (RWD) version will be priced at around €53,000 (about 84 million won), while the all-wheel drive (AWD) model — which reportedly delivers 639 horsepower and a 543 km range (WLTP) — will cost about €63,000 (around 100 million won). It’s said to accelerate from 0 to 100 km/h in just 3.8 seconds.
Since its launch in 2021, Zeekr has seen rapid growth. Sales reportedly jumped from 71,941 units in 2022 to 222,123 units last year. Its lineup includes the 001 wagon, 007 sedan, X compact SUV, and 7X mid-size SUV. The company’s IPO on the New York Stock Exchange in May raised about $440 million (around 600 billion won), making it the largest listing by a Chinese company in the past three years.
Acquah Nana Yeboah
Zeekr’s entry could give South Korean consumers more premium EV options and challenge Tesla and domestic brands. If Zeekr can deliver on performance and pricing, it might just reshape the competitive landscape.
