ZEEKR Announces December and Full Year 2024 Delivery Update

Rhea-AI Summary

ZEEKR (NYSE: ZK) reported strong delivery performance for December 2024 and full year 2024. The company delivered 27,190 vehicles in December, representing a 102% year-over-year increase. Full-year deliveries reached 222,123 vehicles, showing 87% growth compared to 2023. The company's cumulative deliveries totaled 418,756 vehicles by the end of 2024.

Looking forward, ZEEKR has set an ambitious target of 320,000 vehicle deliveries for 2025.

Positive

• December deliveries increased 102% YoY to 27,190 vehicles
• Full-year 2024 deliveries grew 87% to 222,123 vehicles
• Ambitious 2025 delivery target of 320,000 vehicles, representing 44% YoY growth

Negative

• None.

Insights

Automotive Industry Analyst

ZEEKR's December delivery figures reveal remarkable momentum in China's competitive EV market. The 102% year-over-year growth in December deliveries to 27,190 units demonstrates strong market reception and operational execution. The full-year delivery of 222,123 vehicles positions ZEEKR as a formidable player in the premium EV segment.

The 2025 target of 320,000 deliveries represents a 44% growth projection from 2024 levels. This ambitious yet achievable goal reflects confidence in their product pipeline and market expansion strategy. The cumulative delivery milestone of 418,756 vehicles establishes a solid foundation for economies of scale and brand recognition.

In the context of China's EV market dynamics, ZEEKR's growth trajectory outpaces many competitors, suggesting effective market positioning and product differentiation. The consistent month-over-month delivery increases indicate strong supply chain management and production capabilities, important factors for sustained growth in the EV sector.

Financial Analyst

The delivery numbers present compelling evidence of ZEEKR's market penetration and revenue growth potential. With 27,190 vehicles delivered in December alone, the company demonstrates strong unit economics and operational leverage. The 87% year-over-year growth in 2024 deliveries suggests robust demand and effective market execution.

The forward-looking guidance of 320,000 deliveries for 2025 indicates management's confidence in sustaining growth momentum. This target implies continued investment in production capacity and market expansion, potentially driving economies of scale and margin improvement. The cumulative delivery figure of 418,756 vehicles represents significant market share gains in the premium EV segment, potentially strengthening pricing power and brand premium.

HANGZHOU, China, Jan. 1, 2025 /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("ZEEKR" or the "Company") (NYSE: ZK), a global premium electric mobility technology company, today announced its delivery results for December and the full year 2024.

In December 2024, ZEEKR delivered 27,190 vehicles, marking a 102% year-over-year increase. For the full year 2024, the Company achieved total deliveries of 222,123 vehicles, reflecting a strong 87% growth compared to the previous year. By 2024, ZEEKR's cumulative deliveries had reached 418,756 vehicles.

Looking ahead to 2025, ZEEKR aims to achieve deliveries of 320,000 vehicles. As an industry trailblazer, ZEEKR remains steadfast in its commitment to delivering exceptional products and services, continuously fueled by the trust and support of our valued customers.

About ZEEKR

ZEEKR (NYSE: ZK) is a global premium electric mobility technology brand from Geely Holding Group. ZEEKR aims to create a fully integrated user ecosystem with innovation as a standard. ZEEKR utilizes Sustainable Experience Architecture (SEA) and develops its own battery technologies, battery management systems, electric motor technologies, and electric vehicle supply chains. ZEEKR's value is equality, diversity, and sustainability. Its ambition is to become a true mobility solution provider.

ZEEKR operates its R&D centers and design studios in Ningbo, Hangzhou, Gothenburg, and Shanghai and boasts state-of-the-art facilities and world-class expertise. Since ZEEKR began delivering vehicles in October 2021, the brand has developed a diversified product portfolio that primarily includes the ZEEKR 001, a luxury shooting brake; the ZEEKR 001 FR, a hyper-performing electric shooting brake; the ZEEKR 009, a pure electric luxury MPV; the ZEEKR 009 Grand, a four-seat ultra-luxury flagship MPV; the ZEEKR X, a compact SUV; the ZEEKR 7X, a premium electric five-seater SUV; the ZEEKR MIX; and an upscale sedan model. ZEEKR has announced plans to sell vehicles in global markets, and has an ambitious roll-out plan over the next 5 years to satisfy the rapidly expanding global EV demand.

For more information, please visit https://ir.zeekrlife.com/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "future," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

ZEEKR Intelligent Technology Holding Limited
Investor Relations
E-mail: ir@zeekrlife.com

Piacente Financial Communications
Tel: +86-10-6508-0677
E-mail: zeekr@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zeekr@thepiacentegroup.com

View original content:https://www.prnewswire.com/news-releases/zeekr-announces-december-and-full-year-2024-delivery-update-302340794.html

SOURCE ZEEKR Intelligent Technology Holding Limited

FAQ

How many vehicles did ZEEKR (ZK) deliver in December 2024?

ZEEKR delivered 27,190 vehicles in December 2024, representing a 102% increase year-over-year.

What was ZEEKR's (ZK) total delivery count for full-year 2024?

ZEEKR delivered 222,123 vehicles in full-year 2024, achieving 87% growth compared to 2023.

What is ZEEKR's (ZK) delivery target for 2025?

ZEEKR aims to deliver 320,000 vehicles in 2025.

What are ZEEKR's (ZK) cumulative deliveries as of 2024?

ZEEKR's cumulative deliveries reached 418,756 vehicles by the end of 2024.

What was ZEEKR's (ZK) year-over-year delivery growth in December 2024?

ZEEKR's December 2024 deliveries showed a 102% increase compared to December 2023.