Chinese electric vehicle (EV) brands are increasingly competing with established European luxury automakers, according to Zeekr vice-president Mars Chen. Chen stated that Chinese manufacturers have an advantage in meeting the demand for electric luxury cars, predicting that one to two Chinese brands will soon rank among the top five global luxury vehicle manufacturers. He noted that German brands like Mercedes-Benz, BMW, and Audi are falling behind in electrification, with declining sales in China where domestic brands now hold over 50% of the market for vehicles priced at $59,000 or more. AI
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