An ambitious new contender has entered the SUV market, boasting exceptional power and electric range. The Zeekr X8, a tri-motor, extended-range hybrid from Geely, showcases an impressive 1,380 hp and 255 miles of electric-only driving, setting new expectations for hybrid SUVs. This innovation might soon appear in North America under Volvo’s badge, given the challenges Volvo is facing with its current electric vehicle sales.
Volvo’s recent electric vehicle lineup hasn’t met sales expectations, with a significant drop of over 30% in new unit sales noted in the first quarter. Nevertheless, the brand’s certified pre-owned vehicles have seen a 14% increase in sales, indicating a continued interest in Volvo, albeit not necessarily in its latest electric offerings like the XC90 and EX30 models. This trend suggests that integrating Geely’s successful models, such as the Zeekr 8X and Volvo XC70 EREV, could be pivotal for Volvo’s future in North America.
Volvo Dealers Express Concerns
Despite recent price reductions aimed at boosting demand for new models, Yahoo!Autos reports that Volvo’s U.S. dealers are voicing concerns. Customers are opting for traditional hybrids and gas-powered vehicles over Volvo’s battery electric vehicles (BEVs), which have been plagued with issues. Dealers are also finding it challenging to compete with sister brand Polestar for EV sales.
New software updates and upcoming models like the EX60 are expected to aid sales, but the core Volvo clientele, who typically lease a new XC90 every few years, are leaning towards certified pre-owned models over new electric models like the EX30 or EX90. This indicates a preference for proven technology, underscoring the need for more hybrid options in Volvo’s lineup.
The Zeekr 8X: A Rising Star
The Zeekr 8X has quickly gained traction, with over 10,000 orders placed within the first 30 minutes of its release, highlighting the demand for medium-sized EREV SUVs. The pricing strategy, which starts between 356,800 yuan (~$52,000) and 426,800 yuan (~$62,200), with initial offers as low as 329,800 yuan (~$48,000), has been a significant factor in its market success.
If a model based on the Zeekr 8X platform were to reach the U.S. under the Volvo brand, it could start in the mid-$70,000 range for a two-wheel-drive unit, using a 2.0-liter turbo ICE and a 55 kWh CATL battery. A more powerful, three-motor, 70 kWh variant could exceed $100,000. This strategy could provide Volvo with a competitive mid-sized SUV option, combining electric range with the reliability of internal combustion, fulfilling both consumer demand and dealer expectations.
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Original Story at electrek.co