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New Car Appreciation

By Gao Feichang With the launch of the all-new Zeekr 009 in Hong Kong on July 19, this Chinese luxury pure electric MPV has once again expanded its product line. The all-new Zeekr 009 has upgraded the six-seat executive version and launched the seven-seat aisle version. Together with the four-seat version that has been released before, the Zeekr 009 product has covered different seat numbers and multiple usage scenarios such as four-seat, six-seat, and seven-seat. The left-hand drive version and the right-hand drive version are launched simultaneously for global sales.

In terms of price, the official retail price of the new Zeekr 009 in the Chinese mainland market is 439,000 to 469,000 yuan, and the retail price for users in Hong Kong, China starts at 755,000 Hong Kong dollars after enjoying a one-for-one subsidy.

For Chinese consumers, Hong Kong is the "birthplace" of luxury MPVs. Toyota Alphard, which has long been regarded as a representative model of high-end MPVs, initially attracted attention because it was used as a "nanny car" by Hong Kong's wealthy businessmen and celebrities, and triggered a sought-after effect after entering the mainland market. Now, with the upward development of China's independent new energy brands, Chinese brand models such as Zeekr 009 also intend to take a share of the luxury MPV market dominated by models such as Toyota Alphard.

Compete head-on with Alpha in Hong Kong and Macau

In the official propaganda of Zeekr Intelligent Technology Company, the new Zeekr 009 has locked Toyota Alphard as its main competitor. Judging from the pricing in the mainland market, the new Zeekr 009, which is priced at less than 500,000 yuan, is obviously more price-competitive than Toyota Alphard, which is priced at up to 900,000 yuan. In Hong Kong, the starting price of Alphard is around HK$760,000, while the new Zeekr 009 starts at HK$755,000. In terms of pricing, the two are "fighting closely".

The reason why the new Zeekr 009 chose to be listed in Hong Kong is, on the one hand, to compete head-on with Japanese MPVs such as Toyota Alpha in their core markets, and on the other hand, to achieve a leap from the Chinese market to the global market.

According to An Conghui, President of Geely Holding Group and CEO of Zeekr Intelligent Technology, Hong Kong and Macau are very important markets for new energy vehicles and electric vehicles. Among the new cars sold in Hong Kong recently, new energy vehicles accounted for more than 70%, and the highest was more than 85%. The new energy market in Hong Kong and Macau is developing very well, especially the MPV market. The Zeekr brand has attached great importance to the Hong Kong and Macau markets since its inception, and has developed right-hand drive products for them, including the application software, which has been adaptively developed in combination with the actual situation of local users. On July 17, the right-hand drive version of the Zeekr X was launched in Hong Kong, and the new Zeekr 009 right-hand drive version will be delivered in batches in the fourth quarter after its launch in Hong Kong. In the future, Zeekr will have more products entering the Hong Kong and Macau markets.

An Conghui, President of Geely Holding Group and CEO of Zeekr Intelligent Technology

Compared with the previously launched models, the new Zeekr 009 uses a 108-degree power battery, so the price has been reduced. Previously, the Zeekr 009 mainly used a 116-degree power battery, with a starting price of 500,000 yuan. However, the new Zeekr 009 still retains the option of a 140-degree power battery, with a maximum range of 900 kilometers.

Regarding the price reduction of the new Zeekr 009, many people believe that this is a response to the current price war in the auto market, but Zeekr Auto does not think so. An Conghui pointed out that the pricing of the new 009 has nothing to do with the price war in the market. "We pass on the benefits of scale through the vast architecture and the reduction of the three-electric costs to users. This is the main aspect of our pricing considerations. Regarding the price war, Zeekr's attitude is not to participate in market competition by relying on price. The most important competitiveness of the Zeekr brand is to create the ultimate travel experience for users through products and technology. We must fight the quality war, technology war, brand war, and service war."

Zeekr 009 has achieved initial success since its official launch in November 2022. According to official data, Zeekr 009 became the sales champion of all categories of MPVs above 500,000 yuan within one year of its launch, and more than 75% of its users came from traditional luxury brands; within three months of its glorious launch, the order volume of Zeekr 009 exceeded the original annual production plan; within one week of the preheating start, the new Zeekr 009 received more than 3,000 orders in markets outside mainland China.

Under such circumstances, the four-seater Zeekr 009 Brilliance once saw a price increase in some regional markets. In response, An Conghui said: "Through efforts from all sides, the 009 Brilliance has a production capacity of about 200 to 300 vehicles per month. I also know that the price of the Zeekr 009 Brilliance was increased in the market some time ago, so I convened a meeting with the team at the first time and strictly prohibited any price increase in the market. So will the price increase in the future? I can say with certainty that at least now or in the near future, there will be no price increase measures."

Luxury pure electric MPV needs to "create demand"

From the perspective of the overall automobile market, the MPV market is not as popular as sedans and SUVs among the general public, especially the high-end luxury MPV market is even more limited in size. However, the fact that the Zeekr 009 can achieve good sales results in a seemingly small market is directly related to its product positioning and the product's own product strength.

In terms of product positioning, there are few pure electric MPVs priced above 500,000 yuan in the current market, and Zeekr 009's main competitors are traditional Japanese fuel MPVs. In terms of product strength, Zeekr said that it has created many new demands in product development, such as seat layout, color TV, refrigerator, and audio, and other comfortable and luxurious configurations. The new Zeekr 009 has created the "Eames recliner" mode, privacy security, and meditation mode. In addition, the charging network established by Zeekr also provides important support for the product's usage scenarios.

According to Lin Jinwen, Vice President of Zeekr Intelligent Technology, about 55% of Zeekr 009's transactions are currently from corporate users, and he believes that the potential for private user transactions is very large. "Our internal view on the MPV market is that there is unlimited room for imagination. Because the middle-class and high-income groups are replacing large-size SUVs with MPVs, MPVs were not so easy to drive before, but now they are getting easier and easier to drive. While pleasing yourself, you can also please your family and business partners. The MPV category has undergone a subversive change in the new energy era. It is no longer like the previous gasoline MPVs, which can please yourself but not others, and please others but not yourself."

Lin Jinwen, Vice President of Zeekr Intelligent Technology

In terms of charging performance, the new Zeekr 009 adopts a full-stack 800V high-voltage architecture and is equipped with the latest generation of 5C Kirin batteries. The new Zeekr 009 equipped with a 108-degree 5C Kirin battery has a maximum range of 740 kilometers. It only takes 11 and a half minutes to charge the SoC (State of Charge) from 10% to 80%, and a range of 500 kilometers after charging for 10 minutes. In addition, the ultra-charging network deployed by Zeekr has been rapidly expanded. As of June 30, Zeekr has built a total of 515 ultra-charging stations and 2,731 ultra-charging piles, and the number of 800V ultra-fast charging piles ranks first in the industry.

"Why does Zeekr make such a large investment in the field of supercharging and energy replenishment? Because the entry of automobiles into the new energy era is not just about the experience of the car itself, it is also important to enjoy a convenient charging experience throughout the life cycle after purchase. Therefore, Zeekr firmly promotes the 'three 800s', namely 800V products, 800V power batteries, and 800V energy replenishment networks. This is a strategy." An Conghui said.

An Conghui further pointed out that when enterprises make technical and product planning, product definition is very important, and Zeekr 009 is actually doing category innovation. First, when many companies are unwilling to invest in pure electric MPVs due to range anxiety and energy replenishment issues, Zeekr is willing to increase investment; secondly, when many car companies still maintain the perception of traditional MPVs as "large space, luxurious seats, luxurious configuration and functions", Zeekr has differentiated and strengthened the safety and power performance of such products, making MPVs not only "comfortable to sit in" but also "comfortable to drive".

In terms of power performance, the new Zeekr 009 is upgraded with a high-performance silicon carbide electric drive system. The dual-motor four-wheel drive version has a horsepower of 788, and it takes only 3.9 seconds to accelerate from 0 to 100 km/h, which is comparable to high-performance supercars. In terms of handling, the 100-0 km/h braking distance of the new Zeekr 009 is 36.6 meters, and the highest moose test score is 76 m/h. At the same time, the new Zeekr 009 adopts a front double wishbone + rear integrated multi-link independent suspension, and the whole series is equipped with CCD electromagnetic vibration reduction as standard, and the dual-chamber air suspension is upgraded to realize chassis lifting and intelligent magic carpet functions, and the passability is comparable to that of large luxury SUVs.

In the face of the current trend of pure electric slowing down and plug-in hybrid and extended-range hybrid growing faster in the new energy vehicle market, the outside world speculates that Zeekr may also move from pure electric to diversified power. In this regard, An Conghui said: "I think it is too easy for Zeekr to do extended-range hybrid, and everyone should know this. We do not rule out (making extended-range hybrid) in the future, but we must focus on pure electric for now. We must do a good job in the luxury and pure electric market segment."

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