Chinese electric vehicle (EV) brands are gearing up to take on Europe's luxury car giants,according to vice-president of Zeekr. He pointed out a big gap between demand for electric luxury cars and supply,one Chinese makers are ready to fill.
Chen is confident that one or two Chinese brands could crack the global top five in luxury vehicles. Meanwhile, traditional German automakers like Mercedes-Benz,BMW, and Audi, are struggling with electrification. In Q1,these companies saw sales drop up to 6%,showing a shift in competition.
German brands,once dominant in China’s luxury market,are losing ground. Cui Dongshu, secretary general of China Passenger Car Association,said domestic brands took over 50% of sales for vehicles priced at 400,000 yuan (about US$59,000) or more last month. Chinese-made large SUVs,like those from Li Auto, Seres,and Xiaomi, led sales last year.
As luxury EV market changes,Chinese makers' ability to use new tech could reshape their role in global auto industry. With consumer tastes shifting…competition is heating up .
