Chinese buyers drive surge in Zeekr’s sales in Russian EV market

The electric vehicle (EV) market in Russia has witnessed a significant surge in sales of Zeekr electric vehicles over the past year, with Chinese carmakers surpassing local competition and capturing more than half of the market share. This trend comes at a time when Western automakers, following geopolitical events, withdrew from the market, leaving a void that Chinese brands quickly filled.

Statistics from the Russian analytical agency Autostat reveal that between May 2023 and April 2024, over 20,500 new EVs were sold in Russia, marking a 350% increase compared to the previous year. Chinese brands accounted for more than half of these sales, outshining Russian carmakers who sold fewer than 4,000 new EVs during the same period, despite the overall sale of 1.28 million passenger cars.

Although Russia’s EV market has faced challenges like limited charging infrastructure and the country’s reliance on traditional fuel sources, advancements have been made. The growing interest in EVs among Russian consumers has been supported by the increasing accessibility of charging stations, cost savings on fuel, and improved maintenance services by dealers.

Zeekr, a premium Chinese brand, has emerged as a top performer in the Russian EV market, with unofficial sales exceeding 8,000 units since June of the previous year. Despite the lack of official representation in Russia, Zeekr’s popularity underscores the potential for growth with a formal market entry.

As Russia moves towards embracing Chinese brands across various automotive sectors, including EVs, it is essential to consider factors like purchasing power, competition, and the overall economic landscape that can influence market dynamics. The shift towards EVs is evident among wealthier consumers looking for premium options, with a significant portion of owners having home charging facilities.

While Zeekr leads the EV sales in Russia, other local EV models like the Evolute i-Space and the Moskvich 3e offer more affordable alternatives. Additionally, Russia’s leading carmaker Avtovaz is expected to introduce the Lada e-Largus as a budget-friendly choice in the EV market.

Despite initial reluctance towards Chinese car brands, perceptions in Russia are changing as more consumers express willingness to consider Chinese vehicles. With the market share of Chinese brands surpassing 50%, there is a gradual shift towards acceptance and a positive outlook for the future of Chinese-made cars in Russia. As service networks expand and consumer awareness grows, the trajectory for Chinese car sales in Russia is expected to continue upwards.