/// Is Lynk & Co and Zeekr engaging in internal competition?

Editor: Xiao Ying

After Zeekr's successful listing, Lynk & Co has also started to focus on the pure electric market.

On June 12, Lynk & Co's first pure electric model, the Z10, made its official debut. The Z in its name comes from the first letter of Zero, and the number 10 represents the 10th anniversary of Lynk & Co's predecessor, CEVT.

Although Lynk & Co downplays the strategic significance of this vehicle, as its first pure electric model, it boasts top-notch hardware configuration, clearly intended to shoulder the responsibility of breaking into the pure electric market.

The Lynk & Co Z10 is expected to hit the market in the third quarter. Due to its similar product positioning and stronger configuration, it will undoubtedly pose direct competition to Zeekr 001 and 007, which has sparked discussions about the positioning of Lynk & Co and Zeekr.

In many people's impression, Zeekr is Lynk & Co's new energy brand. It is precisely by leveraging the advantage of the Lynk & Co brand that the Zeekr 001 became a hit model upon its launch.

In just three years, the Zeekr brand has five pure electric models. From January to May this year, Zeekr delivered over 67,000 vehicles. On June 21, the 200,000th Zeekr 001, Zeekr's first model, was delivered from the Zeekr factory in Ningbo.

The positioning of Lynk & Co has also gradually shifted from "a global new high-end brand" to "a global new energy high-end brand".

Whether it's product layout, brand origins, or development strategies, Lynk & Co and Zeekr will inevitably be compared.

So, how should we understand the positioning of these two brands within the Geely Group system? Are they complementary or competing?

01

Lynk & Co Z10 overshadows Zeekr 001

The birth of Zeekr 001 originated from Lynk & Co.

In 2021, Lynk & Co was gearing up for the launch of the ZERO concept production model, but in April, things suddenly changed, and Zeekr emerged, completely altering the original situation.

As a high-end intelligent electric brand under the Geely Group, Zeekr was born with a golden key and led by An Conghui, President of Geely Holding Group and Chairman of Geely Auto Group. Lynk & Co's ZERO concept production model transformed into Zeekr's first production model, the ZEEKR 001.

Since then, Zeekr has become synonymous with Geely's push towards high-end new energy brands, while Lynk & Co, originating from the collaboration between Geely and Volvo, has become Geely's representative in the global gasoline vehicle market.

The originally clear brand identity has become blurred with the launch of the Lynk & Co Z10, even directly competing with Zeekr. From a product perspective, both the Lynk & Co Z10 and the Zeekr 001 originate from Geely's SEA HaoHan platform, but the Lynk & Co Z10's hardware configuration comprehensively surpasses the Zeekr 001.

The Lynk & Co Z10 measures 5028mm×1966mm×1468mm, with a wheelbase of 3005mm and a drag coefficient of 0.198Cd. While the top-of-the-line 2024 version of the Zeekr 001, although also with a wheelbase of 3005mm, has a slightly smaller body size and a drag coefficient of 0.23Cd.

In terms of power configuration, the Lynk & Co Z10 is built on both 400V and 800V power platforms, achieving a maximum pure electric range of over 800KM. The high-performance 800V architecture provides rapid energy replenishment for the entire vehicle, with a 15-minute charge adding 573km of range. It also features dual silicon carbide high-performance electric drives, achieving a 0-100km/h acceleration time of 3.5 seconds, and is equipped with aids such as a dTCS system, dual-chamber air suspension, and a CDC continuously adjustable electronic shock absorber system.

The Zeekr 001 is equipped with a dual-motor system that can achieve a 0-100km/h acceleration time of less than 3.3 seconds. Its 100.01kWh ultra-large capacity battery pack provides a maximum range of up to 705km. Meanwhile, the 2024 version of the Zeekr 001 has upgraded its entire lineup to an 800V high-voltage platform, using Ningde Times' Qilin battery and Shenxing battery, which offers fast charging, achieving an 80% charge in just 15 minutes from 10%. Additionally, the new Zeekr 001 has also upgraded its dual-chamber air suspension and CCD electromagnetic damping.

It can be seen that there is almost no difference in power configuration between the two models.

In terms of intelligent driving, the Lynk & Co Z10 will utilize high-level intelligent driving solutions by integrating Geely Group's intelligent driving R&D resources, equipped with the NVIDIA Orin-X chip and LiDAR sensing hardware. This solution includes high-frequency use cases such as highway NOA and city NOA without maps, which will be released successively.

The 2024 version of the Zeekr 001 is equipped with two Mobileye EyeQ5H chips, each with a computing power of only 24 tops, which is inferior to the 32 Tops of the NVIDIA Xavier and can only support L2-level assisted driving capabilities.

Equipped with Mobileye chips, its limited intelligent driving capabilities have been considered one of the few criticisms of the 2024 version of the Zeekr 001. In contrast, the Lynk & Co Z10 directly addresses this shortcoming.

In terms of the intelligent cockpit, Lynk & Co has jointly developed LYNK Flyme Auto with Meizu. The chip CPU computing power is 1.8 times that of the Qualcomm 8295 chip, significantly expanding the intelligent interaction of LYNK Flyme Auto and enabling powerful 3D rendering. The Zeekr 001 initially received criticism for its cockpit, but with the launch of the 2024 version, the cockpit chip has been comprehensively upgraded to the Qualcomm 8295 chip, resolving issues such as lag in the in-car system.

In terms of pricing, the 2024 version of the Zeekr 001 ranges from 260,000 to 320,000 yuan, while the Lynk & Co Z10 is expected to be priced between 250,000 and 300,000 yuan.

By comparison, whether it's the body size, power configuration, or overall vehicle performance, the Lynk & Co Z10 is almost comprehensively superior to the Zeekr 001, and may even have a pricing advantage in the future.

Lin Jie, Senior Vice President of Geely Auto Group and General Manager of Lynk & Co Sales Company, said that Lynk & Co and Zeekr have both similarities and differences. The similarities are: both Lynk & Co pure electric and Zeekr originate from the SEA HaoHan architecture, sharing the same safety and performance genes, allowing them to synergize the group's advantageous resources for vehicle manufacturing.

There are four differences:

Different brand positioning: Lynk & Co positions itself as a global new energy high-end brand, with the vision of "continuously changing mobility, making people love to travel more"; Zeekr positions itself as a luxury technology brand for the new era, with the mission of "creating an ultimate travel experience".

Different target audiences: Lynk & Co targets individuals with a personal, open, and connected urban lifestyle; Zeekr targets tech-savvy individuals.

Different brand styles: Lynk & Co constantly challenges conventions, leading the era with an open mindset, trendy design, and cutting-edge technology, achieving seamless connectivity between people, cars, and the world; while Zeekr pursues the ultimate, constantly breaking boundaries and creating, always insightfully addressing unknown travel needs of users.

Different user characteristics: Lynk & Co's users are individuals with a personal, open, and connected urban lifestyle. They have unique insights, dare to explore, are passionate, and have high demands for design, performance, quality, and safety. Zeekr's users are loyal to themselves, pursue the ultimate, believe in beauty, and maintain a fervent curiosity for cutting-edge technology.

Although Lin Jie explained the differences between Lynk & Co pure electric and Zeekr, Lynk & Co's pure electric strategy has undoubtedly created a direct competitive relationship with Zeekr.

Perhaps Lynk & Co is trying to avoid comparing itself to Zeekr on different levels, but from an external perspective, three years ago, Lynk & Co temporarily ceded its pure electric strategic product and gave birth to the new pure electric brand of Zeekr.

Now, as Lynk & Co doubles down on the new energy market, it seems that Geely is adopting an internal "horse racing" approach to enhance competitiveness.

02

Lynk & Co takes a two-step approach to power new energy

Lynk & Co's transition to new energy began with plug-in hybrid models.

Starting in 2023, Lynk & Co announced that it would stop developing pure gasoline vehicles altogether, transforming into new energy and improving its EM-P hybrid product line.

Currently, Lynk & Co's EM-P product matrix includes six models: Lynk & Co 01 EM-P, Lynk & Co 05 EM-P, 06 EM-P, 07 EM-P, Lynk & Co 08 EM-P, and Lynk & Co 09 EM-P.

In 2023, Lynk & Co's sales exceeded 220,000 units, with gasoline and plug-in hybrid models accounting for roughly 50:50. From January to May 2024, Lynk & Co's EM-P models sold nearly 50,000 units, accounting for 48.1% of total sales, especially in May, when the proportion of new energy sales increased to 56.9%.

The launch of Lynk & Co's hybrid models relies on Geely's Leishen intelligent hybrid platform, known within the Lynk & Co brand as the LYNK E-MOTIVE intelligent hybrid system. All Lynk & Co models with the EM-P suffix are equipped with this system.

Geely's Leishen hybrid system was released in 2021. This system utilizes a 3-speed DHT transmission and a 1.5TD hybrid-dedicated engine, adapting to different sizes of Lynk & Co models through batteries of varying capacities. One notable feature is that this system can also achieve pure range extension mode, which is currently used in models from Geely, Lynk & Co, and other brands.

In 2023, Geely released the new-generation Leishen hybrid 8848, consisting of a newly developed four-cylinder hybrid-dedicated engine (with a maximum thermal efficiency of 44.26%) and a new-generation 3-speed hybrid electric drive transmission, DHT Pro.

According to media reports, Geely's Leishen hybrid platform will introduce a new-generation hybrid system with a maximum range of over 2,000 kilometers when fully fueled and charged. This technology is expected to debut this year and enter mass production next year.

It can be seen that Lynk & Co's transition to new energy is led by plug-in hybrid models and has achieved good results. So why is Lynk & Co entering the highly competitive pure electric market?

"We have conducted research, and 60% of Lynk & Co users hope that Lynk & Co will launch pure electric products to meet the rapidly changing needs of the new energy market. Therefore, we are顺应市场变化, focusing on user needs, and introducing the Lynk & Co Z10," said Gan Jiayue.

Lin Jie also stated that the pure electric market is indeed very competitive. Lynk & Co's entry into this market is driven by user demand. Lynk & Co already has over 1 million users, many of whom are loyal fans expecting Lynk & Co to fulfill their pure electric dreams. Therefore, Lynk & Co pure electric has a vast user base and does not need to start from scratch like others.

03

Who is Li Shufu's favored son?

If Lynk & Co's entry into the new energy market is a response to user voices and demands, then Zeekr was born as a key player in Geely's transformation towards high-end new energy.

Founded in 2016, Lynk & Co is a joint venture between Geely Auto, Volvo, and Geely Holding, with Geely Auto holding a 50% stake as the largest shareholder. Lynk & Co is neither purely domestic nor simply a joint venture, but a "hybrid" that cleverly fuses both identities.

At its inception, Lynk & Co's main task was to represent Geely in its assault on the high-end automotive market.

As the head of Lynk & Co, Gan Jiayue, 43 years old, is one of the few post-80s executives in Geely Holding, serving as the chairman of Lynk Investment, the main entity of the brand.

"Standing on the birthplace of the global automotive industry and on the shoulders of giants, Lynk & Co will receive the best technological empowerment."

Gan Jiayue stated that relying on Volvo, Lynk & Co has also introduced the selling point of "safety." Gothenburg, the headquarters of Volvo, is known as the birthplace of global automotive safety technology. For example, the three-point seatbelt and child safety seat originated here. Lynk & Co, born in this city, inherits the safety gene.

Regarding Lynk & Co and Zeekr, there is an industry saying that in the era of gasoline vehicles, Lynk & Co's involvement with Volvo helped it explore international markets and expand its global influence.

However, in the era of electric vehicles, the core technology lies with Geely, namely the SEA HaoHan intelligent architecture. Launching a Zeekr brand as Geely Holding Group's own high-end intelligent electric vehicle brand means that Volvo is no longer involved in the pure electric vehicle field.

In terms of product pricing, Lynk & Co offers models starting at around 100,000 yuan, while Zeekr, as a high-end new energy brand, starts at over 200,000 yuan. Creating an independent Zeekr brand is also an important strategy for Geely to elevate its brand image.

This is indeed the case.

When Zeekr was established, Geely was undergoing organizational restructuring. An Conghui, the former CEO and President of Geely Auto Group, officially succeeded Li Shufu and was promoted to Chairman of Geely Auto Group. Meanwhile, the newly established Zeekr Automobile Company will be held by Geely Auto with a 51% stake and Geely Holding with a 49% stake.

It should be noted that Zeekr Automobile's chairman is Li Shufu, and its CEO is An Conghui. Zeekr Automobile was founded with the mission and vision of pioneering a new era of intelligent pure electric vehicles. Its emergence is a significant transformation signal for Geely.

Zeekr Automobile is registered in the British Virgin Islands, with the official explanation being to facilitate overseas listing and financing in the future.

The R&D, procurement, and sales of the Zeekr brand are not handled by Geely Group but by a joint venture company established by Geely Auto and Geely Holding