Zeekr to enter South Korea as part of its global expansion spree

Zeekr is likely planning to enter South Korea as part of its global expansion spree. Established in 2021, it is one of Chinese auto giant Geely’s several EV brands.

According to a new report from the Maeil Business Newspaper, Zeekr has completed the registration of its trademark in South Korea. The local publication expects the EV brand’s launch to take place in the second half of the year. BYD could start selling electric cars in South Korea around the same time. Currently, Zeekr is on a recruitment drive, looking for executives from other foreign automakers. The report suggests that Zeekr faces a tough road ahead, as domestic brands hold a high market share of close to 80%.

After going public with a listing on the New York Stock Exchange (NYSE) last month, Zeekr conducted its first earnings conference call this month. CEO Andy An (An Conghui) said that Zeekr has established a presence in over 20 countries and regions, including the Netherlands, Sweden, Thailand, the UAE, and Saudi Arabia. The company has started deliveries of the Zeekr 001 and the Zeekr X in Europe.

Earlier this month, the right-hand drive version of the Zeekr X entered production, paving the way for the company to expand its global presence further. An said that Zeekr plans to introduce right-hand drive versions of the Zeekr 009 and Zeekr X in Singapore and Hong Kong in the third quarter of this year, marking its entry into the global right-hand drive markets.

Zeekr has big expansion ambitions for this year in Europe, but it has set countries in Latin America, Southeast Asia, and the Middle East as its key markets. Perhaps, the upcoming tariff hike on China-made EVs in the EU has affected the company’s strategy in the region. The first units of the Zeekr 001 and Zeekr X are on their way to Mexico, the brand’s first market in North America. By the end of the year, Zeekr aims to expand its footprint to 50 countries and regions worldwide.

Currently, the Zeekr EV range consists of four EVs – Zeekr 001, Zeekr X, Zeekr 009, and Zeekr 007, all manufactured in China. Seven new models will join the brand’s portfolio by 2026. The Zeekr Mix that debuted at Auto China 2024 is likely to be among the first of them, and another electric MPV, codenamed ‘Zeekr Beluga,’ is also in the pipeline.

A ‘Zeekr 007 Touring’ electric estate will help the company focus more strongly on European markets. Lastly, an electric mid-size SUV reportedly called ‘Zeekr Ark’ and three more electric SUVs are also in the making.

mk.co.kr (in Korean)