Geely’s premium EV brand Zeekr has followed in the wake of its competitor Tesla Inc (NASDAQ:TSLA) in slashing the prices of its vehicles in China.
Per its website, the Chinese EV maker has discounted its Zeekr 001 vehicle, comparable to the Tesla Model Y, by about $5,000 on average across its models, which now range in price between $40,000 and $52,000.
However, the reduced prices for the Zeekr 001 are only available for a limited time, applicable to new customers who place orders between August 11 and December 31, 2023.
In comparison, Tesla Model Y base prices in China currently range from $40,000 to $55,000, down from a range of about $43,000 to $60,000 at the start of 2023 as the company has repeatedly slashed its prices in a bid to drive up sales amid rising competition.
Meanwhile, Zeekr is also set to launch its first luxury sports car priced at more than 1 million yuan ($140,000), according to a Reuters report.
A person with knowledge of the matter told the publication that Zeekr plans to launch its sports car within the coming weeks, with the delivery of the first batch of vehicles to occur before the end of the year.
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