Geely Automobile Holdings Ltd. plans to launch its first premium electric vehicle in South Korea as early as 2026, joining several Chinese automakers looking to break into a market dominated by Hyundai Motor Co. and sister company Kia Corp.
Geely’s upmarket EV brand Zeekr Intelligent Technology Holding Ltd., which went public in the United States in May, plans to open showrooms in Seoul and Gyeonggi, the province surrounding the capital, by the end of next year, with deliveries beginning in the first quarter of 2026, according to an emailed reply to Bloomberg News questions.
Although those plans aren’t final, the Zeekr 001, an electric vehicle (EV) with a range of up to 620 kilometers (385 miles) on a single charge, maybe the first model to be introduced in South Korea.
Despite a new rule that provides more subsidies for EVs with a higher estimated value of recycled metals such as lithium, nickel, cobalt and manganese, Chinese automakers are being drawn to South Korea, disadvantaging carmakers who use LFP (lithium iron phosphate) batteries, which Chinese companies generally do.
