Core Insights - The launch of the Zeekr 9X, priced at 455,900 to 589,900 yuan, has disrupted the existing market dynamics, achieving over 10,000 pre-orders within 13 minutes and 42,667 orders in the first hour, indicating a strong demand that exceeded internal expectations [2][3][5] - The Zeekr 9X aims to compete in the luxury SUV segment, positioning itself against established models like the AITO M9 and NIO ES8, with a focus on extreme luxury and advanced technology [3][5] - The user demographic for the Zeekr 9X includes seasoned luxury car owners, existing Zeekr customers, and tech enthusiasts, showcasing a diverse appeal [5][8] Product Features and Strategy - The Zeekr 9X incorporates advanced technologies such as the H9 intelligent driving system, multiple laser radars, and a luxurious interior design, including a yacht-style roof and 22-inch wheels, aiming to rival high-end brands like Rolls-Royce [3][5] - The vehicle's pricing strategy reflects a commitment to capturing the premium market segment, with the goal of establishing Zeekr as a leading brand in the 450,000 yuan and above category [3][5] - The production capacity for the Zeekr 9X is currently conservative, with plans to ramp up as demand increases, while ensuring quality remains a priority [9][10] Market Position and Competition - The competitive landscape for vehicles priced above 400,000 yuan is intense, with only a few models like the Li L9 and MEGA achieving significant sales, highlighting the challenges Zeekr faces in maintaining momentum [5][10] - The Zeekr brand is strategically positioned to reclaim pricing power in the luxury segment, with the 9X serving as a critical opportunity for market penetration [5][10] - The overall market for luxury vehicles in China is evolving, with increasing consumer support for domestic brands, which is seen as a foundation for future growth [14][18] Technological Advancements - Zeekr's commitment to technological innovation is evident in its development of the 800V high-voltage platform and advanced battery systems, which are positioned as industry-leading solutions [6][12] - The integration of AI and advanced driving technologies is a key focus, with plans to enhance the driving experience and maintain a competitive edge in the smart driving sector [21][23] - The Zeekr 9X's hybrid system is designed to transition from pure electric to hybrid seamlessly, addressing consumer pain points and enhancing user satisfaction [26]

Core Insights - Zeekr 9X is based on the exclusive electric hybrid architecture "Haohan-S" and features four core technologies including Haohan Super Electric Hybrid and Haohan AI Digital Chassis [2] - The vehicle is equipped with the world's first three-motor megawatt-level hybrid electric drive, achieving a maximum horsepower of over 1400 [2] - The Zeekr 9X offers two intelligent driving assistance options, with the H7 plan utilizing the Nvidia Thor-U chip with a computing power of 700 TOPS, and the H9 plan featuring dual Thor-U chips with 1400 TOPS [2] - Among the pre-sale users of Zeekr 9X, 0% are from high-end luxury brand replacements, while 70% own luxury models priced above 500,000 yuan [2] Pricing and Models - On September 29, Zeekr launched its flagship SUV, the Zeekr 9X, offering four models: Max, Ultra, Hyper, and the Black Edition [3] - The official price range for the Zeekr 9X is between 465,900 yuan and 599,900 yuan, with a limited-time price for configuration exchange rights ranging from 455,900 yuan to 589,900 yuan [3]

Core Viewpoint - Zeekr is redefining luxury through technology, focusing on a tech-driven growth philosophy rather than traditional luxury standards [1] Group 1: Product Development - Zeekr's first super hybrid vehicle, the Zeekr 9X, will be based on the innovative Haohan-S architecture, which is the world's first electric hybrid architecture [2][3] - The Haohan super hybrid system features a 70-degree 6C custom hybrid battery, self-developed silicon carbide electric drive, and a dedicated generator, enabling longer electric range and faster charging [2] - The Zeekr 9X boasts a total power output exceeding 1000 kW (1030 kW) and a CLTC electric range of 380 km, with a rapid charging capability that allows 20% to 80% charge in just 9 minutes [2][3] Group 2: Performance and Efficiency - The Zeekr 9X includes a self-developed range extender generator with a peak power of 145 kW, capable of adding 20 kWh of energy per hour while driving [3] - The vehicle's engine is a 2.0T super hybrid engine with a maximum power exceeding 200 kW and a thermal efficiency surpassing 46%, maintaining strong performance even in low battery conditions [3] Group 3: Driving Experience and Safety - The Zeekr 9X features the Haohan AI digital chassis, which integrates advanced hardware and software technologies for enhanced driving dynamics and comfort [4] - The vehicle is equipped with a closed dual-chamber air suspension and dual-valve CCD electromagnetic damping, allowing for rapid adjustments and improved ride quality [4] - Safety features include a robust door beam design that reduces side collision intrusion by up to 27%, enhancing passenger protection [5] Group 4: Intelligent Driving Technology - The Zeekr 9X is the flagship model of the Qianli Haohan intelligent driving system, featuring dual NVIDIA DRIVE Thor-U chips with a computing power of 700 TOPS, significantly enhancing its processing capabilities [5][6] - The vehicle employs a unique 5-lidar system for 360-degree coverage, along with multiple radar and camera units, creating a comprehensive perception matrix for advanced autonomous driving [6] Group 5: Market Position and Sales Strategy - Zeekr has established a high-end luxury positioning with an average vehicle price near 300,000 yuan, limiting its ability to compete on price alone [7] - As of mid-2025, Zeekr's cumulative sales reached 90,700 units, with a year-on-year growth rate of only 3.26%, indicating a need for strategic focus on long-term brand development rather than short-term sales fluctuations [7][8] - The company has initiated a "pre-experience plan" for the Zeekr 9X, allowing potential customers to engage with the brand and influence product development [7][9]

Core Viewpoint - ZEEKR is positioning itself as a high-end electric vehicle brand, launching the ZEEKR 9X, a flagship model based on the new HaoHan-S hybrid architecture, aiming to redefine hybrid technology and compete in the luxury SUV market [2][8]. Group 1: Product Launch and Technology - The ZEEKR 9X features the world's first luxury hybrid architecture based on a pure electric platform, named HaoHan-S, which enhances the capabilities of the previous SEA architecture [2]. - The ZEEKR 9X is equipped with a three-motor system, achieving a total power output of over 1,030 kW (approximately 1,400 hp), allowing for a 0-100 km/h acceleration time of just 3.1 seconds [2]. - The vehicle includes a 2.0T engine with a peak power of 205 kW, enabling it to charge while driving at 120 km/h [3]. Group 2: Market Strategy and Financials - ZEEKR has invested a total of 22.7 billion yuan in R&D over the past four years, with nearly 10 billion yuan planned for 2024, indicating a commitment to developing high-end electric vehicles despite ongoing losses [8]. - From 2021 to 2024, ZEEKR's annual sales have shown significant growth, with figures of approximately 6,000, 71,900, 118,000, and 222,100 units, respectively, while net losses have accumulated to 26.2 billion yuan [8]. - The company aims to establish itself in the high-end market, with the ZEEKR 9X being a focal point of this strategy, although it faces challenges in proving its profitability and sustainability [9][10]. Group 3: Competitive Landscape - The automotive market is expected to undergo significant changes in the next two to three years, with companies lacking profitability potentially facing elimination [10]. - ZEEKR's recent sales data indicates a decline in core brand deliveries, with a 17% year-on-year drop in June, highlighting the need for improved market performance [11]. - The integration of ZEEKR OS and Flyme Auto into a unified operating system is planned, which may enhance the brand's technological capabilities and operational efficiency [12].