Introduction

With the popularity of the Lynk & Co 900 and the subsequent arrivals of the Geely Auto Galaxy M9 and Zeekr 9X, these three 9-series products mark Geely's strategic return to a unified brand, positioning it for high-end market dominance.

Yesterday (July 9), Zeekr unveiled groundbreaking technology for its new flagship super electric hybrid SUV, the Zeekr 9X. Despite the current homogenization of the new energy industry, the Zeekr 9X aims to break this trend.

Featuring a 900V high-voltage system, the first hybrid megawatt electric drive, 3-second acceleration, 380km pure electric range, 9-minute fast charging for hybrid vehicles, closed double-cavity double-valve air suspension + 48V active stabilizer bar, dual NVIDIA Thor chips + 5 LiDAR sensors, and L3-level assisted driving capabilities, the Zeekr 9X is at the pinnacle of industry technology. It promises to revolutionize the high-end large SUV market, becoming a new flagship for ultra-luxury SUVs worldwide.

This year, Geely has already introduced two major large SUVs. Last month, more details of the Geely Auto Galaxy M9 were revealed, with its spacious interior and versatile layout poised to become another hit under the Geely Auto Galaxy brand.

Earlier this year, in April, the Lynk & Co 900, another large flagship SUV, was launched and immediately became a popular product in the large SUV market. Despite fierce competition, demand for the Lynk & Co 900 exceeds supply, even surpassing pioneers like the Lixiang L9.

From the initial success of the Lynk & Co 900 to the upcoming launches of the Geely Auto Galaxy M9 and Zeekr 9X, Geely has launched three '9-series' products in succession, showcasing its determination to enter the high-end market segments. These products also serve as the technical foundation and guidance for Geely to achieve its annual sales target of 3 million vehicles.

However, every automaker knows the challenges of moving upmarket. Many have stumbled on this path in the past. So, how will Geely fare with its three-pronged approach this time?

01 The Success of Lynk & Co 900 Sets a Benchmark for Geely's 9-series

The automotive industry is highly competitive, with price wars driving growth concentrated in the mid-to-low-end market. According to data from the China Passenger Car Association, since the introduction of replacement subsidies, the market for vehicles priced at 100,000 yuan and below has grown by approximately 1 million units, creating a significant siphon effect.

In contrast, growth in the high-end market segments has been sluggish, with sales of BBA (BMW, Benz, Audi) continuously declining, and new forces in the mid-to-high-end market entering strongly. Data shows that the market share for vehicles priced between 300,000 and 400,000 yuan has dropped from 10.3% in 2023 to 9.4% in the first five months of this year. The situation appears lively but is not optimistic.

Amidst this adversity, Geely's first 9-series product, the Lynk & Co 900, has delivered impressive results.

The Lynk & Co 900 received over 10,000 orders in the first hour of its launch, with pre-sale orders reaching as high as 40,000. In May, its first full month after launch, the Lynk & Co 900 ranked fourth in large SUV sales with 5,593 units sold. In June, it achieved a weekly peak of 1,491 units sold, firmly occupying the top 2 position in full-size hybrid SUV sales.

According to internal sources from Lynk & Co, with increased production capacity in June, sales of the Lynk & Co 900 are expected to surpass 6,000 units, demonstrating strong market potential. Based on current sales momentum and tens of thousands of orders, the Lynk & Co 900 has firmly established itself among the top three in the large SUV market.

In my view, the current performance of the Lynk & Co 900 is highly valuable.

Firstly, numerous large SUV products have been launched this year, and competition is fierce. Products across various price ranges are entering this market, including those from AITO, Denza, SL03, and Hyper GT. However, based on current market performance, the Lynk & Co 900 is already at the forefront, fulfilling Geely's promise that it would become a leader in its segment.

Secondly, one can judge a brand's value by combining price with sales. Over 60% of the main sales models of the Lynk & Co 900 are priced at 360,000 yuan or higher, effectively locking in the value anchor point of 400,000 yuan. Furthermore, since May, the Lynk & Co 900 has been the best-selling model under the Lynk & Co brand. A vehicle priced in the 300,000-400,000 yuan range becoming the sales leader speaks volumes about its underlying value.

Thirdly, the Lynk & Co 900 represents a value refresh for the Lynk & Co brand and Geely's move upmarket. If Lynk & Co was a successful attempt at an autonomous high-end brand in the fuel vehicle segment, then the Lynk & Co 900 is another step towards new energy and a higher-end direction, achieving initial success. It sets an example for Geely's 'Three 9s Strategy' and opens a promising start for Geely's upmarket move in the new energy segment.

Given the shrinking market and fierce competition, why can the Lynk & Co 900 still achieve success? Here, it is necessary to mention the technological strength, product strength, and price competitiveness of the Lynk & Co 900. In this market segment, the value it brings to the market and consumers has surpassed the previous capabilities of the Lynk & Co brand.

Especially in terms of groundbreaking value and functionality, such as an 88.2% usable space ratio and a spacious design with over 1 square meter of space per person, it breaks the industry pain point of traditional full-size SUVs where the front row is VIP and the rear row is just passable. Features like dual 180° rotating seats in the second row and a 155° large recline angle in the third row have been hailed by users as innovations that 'truly solve family travel pain points.' It also includes configurations like dual 30-inch 6K screens and Harman Kardon Performance audio, which indeed meet the current high-end pursuit of intelligence and quality by consumers.

Compared to other extended-range large SUVs in the industry, the EM-P performance and energy-saving electric hybrid technology of the Lynk & Co 900 provide a consistent driving experience under different conditions such as full charge and low charge. Coupled with Lynk & Co's racing experience and safety strength, it also provides a strong endorsement for the vehicle's handling experience and safety assurance.

Therefore, from the Lynk & Co 900, we can see that Geely seems to have mastered the logic behind creating popular hit products. From space innovation to safety upgrades, from technological breakthroughs to scenario-based operations, this is the result of a resonance between product strength, brand strength, and market trends. The Lynk & Co 900 has redefined the value standard of full-size hybrid SUVs, providing a new model for Chinese brands to break through in the high-end market.

02 Stepping Upmarket in Stages: A New Dawn for Geely

Since Geely announced the 'Taizhou Declaration' in September last year, a series of strategic integration actions have been in full swing, yielding significant results. In particular, the independence of Geely Auto Galaxy and the merger of Lynk & Co and Zeekr have clarified Geely's competition strategy in the automotive industry.

With a clearer strategic approach, Geely has become increasingly adept at brand building and pacing. Especially in the first half of this year, Geely Automobile's cumulative sales of 1.409 million units and its new energy sales of 725,000 units, which doubled, indicate that it has entered a new phase of rapid development. As one of the few automakers in the industry that has increased its sales target, Geely's newly proposed sales target of 3 million units has greatly invigorated the system.

As the ancients said, 'Those who do not plan for the long term cannot plan for the short term; those who do not plan for the overall situation cannot plan for a part.' Those who truly achieve great things often stand higher and see farther than ordinary people, making advanced plans in complex and changing situations to lay the foundation for future success.

Throughout the historical development of the global automotive industry, for a company to steadily maintain annual sales of 3 million units and move towards 4 million or 5 million units, high-end positioning is a hurdle that cannot be bypassed. As a popular brand, Toyota also has a high-end brand like Lexus to endorse its enterprise. Even brands like Mercedes-Benz, which are already high-end and luxurious, need Maybach to enhance their brand image and influence.

Any major automaker must have its own high-end positioning. Standing at a new starting point of 3 million units per year, Geely has its own new thinking in its move upmarket. The successive launches of three '9-series' products across three brands are the most typical representation of this.

From Geely Auto Galaxy M9 to Lynk & Co 900, and then to Zeekr 9X, we can see that Geely's approach to high-end positioning is brand-specific and progressively advancing. The synergy between brand high-end positioning and Geely's overall high-end positioning will provide the strongest guarantee for both individual brands and Geely's higher annual sales targets.

In terms of strategic approach, Geely's 'Three 9s' models will occupy the price points of 300,000 yuan, 400,000 yuan, and 500,000 yuan, respectively. Before launching its high-end offensive, Geely did not adopt a top-down or bottom-up approach but innovatively adopted a middle-out strategy, with Lynk & Co 900 taking the lead in the large SUV segment, occupying a bridging position in the middle. This approach neither caps Zeekr's high-end ceiling nor leaves no room for Geely Auto Galaxy to explore lower price points.

Based on the current positioning and information of the three 9-series products, the Lynk & Co 900, the first to emerge, is positioned as a family-oriented technology luxury SUV. With its technological appearance, innovative electric sky-ground doors, rich intelligent configurations, and comfortable driving experience, it locks in the price range of 300,000 to 400,000 yuan. It represents a new height for the Lynk & Co brand in the fusion of luxury and technology, changing consumers' previous perceptions of Lynk & Co and penetrating deeply into the high-end luxury family car segment, enhancing the presence of the Lynk & Co brand in the luxury car market and further boosting the overall image of the Geely brand.

As an AI technology flagship six-seater SUV, the Geely Auto Galaxy M9 fills the gap in the luxury six-seater SUV market priced below 300,000 yuan. It showcases Geely Auto Galaxy's technological strength and product innovation in the mid-to-high-end family car segment, demonstrating the brand's determination to enhance the quality of family travel and enhancing its reputation in the mid-to-high-end market, helping Geely gain a firm foothold in the mainstream mid-to-high-end market.

Next is the Zeekr 9X, closely linked to cutting-edge technology and ultimate luxury. In the price range of 500,000 yuan, with the top-spec model exceeding 600,000 yuan, it poses as a 'million-yuan ultra-luxury SUV' and becomes a flagship for Geely's assault on the high-end market. It is expected to become the '9-series ceiling' in the full-size SUV segment, helping the Chinese automotive industry add a new option beyond pure electric and extended-range power solutions in the new energy sector and establishing Zeekr as a technological benchmark in the ultra-luxury segment.

Given the successful performance of the Lynk & Co 900 in its market segment after the merger of Lynk & Co, it is safe to say that the Zeekr 9X will also thoroughly embrace the hit product approach of the Lynk & Co 900 and the underlying logic of creating best-sellers in the new era. This capability is bound to be replicated on the Zeekr 9X.

As mentioned at the beginning of the article, the series of highlights of the Zeekr 9X point to a new direction for the development of the current new energy vehicle industry: from marketing wars to price wars, truly entering a new race track of hardcore technology and comprehensive product capabilities.

Certainly, if the Zeekr 009, a pioneering pure electric vehicle, is viewed as another symbol of Geely's ascension into the premium market, its position as the undisputed leader in the pure electric luxury MPV segment underscores Zeekr's capacity to spearhead Geely's upward trajectory. Building on this success, the Zeekr 9X, anchored on the cutting-edge HAO Super Electric Hybrid Architecture HAO-S, leverages state-of-the-art 'pure electric, hybrid, and intelligent' capabilities to deliver unparalleled value to the high-end luxury market. This latest model is poised to surpass and redefine the benchmarks set by the Zeekr 009 within this elite segment.

Responsible Editor: Cao Jiadong
Editor: He Zengrong