ZEEKR Announces June 2024 Delivery Update

Rhea-AI Summary

ZEEKR Intelligent Technology Holding, a rapidly growing BEV technology company, reported significant delivery milestones for June 2024. The company delivered 20,106 vehicles in June, marking an 89% year-over-year increase. Year-to-date deliveries for 2024 reached 87,870 vehicles, illustrating a 106% growth compared to the same period last year. Cumulative deliveries stand at 284,503.

The flagship ZEEKR 001 model exceeded 200,000 deliveries, setting a new benchmark in China's premium BEV market. Additionally, ZEEKR has expanded into the Indonesian and Malaysian markets through partnerships with PT Premium Auto Prima and Sentinel Automotive Sdn. Bhd., respectively. The company is now present in over 25 major markets and plans to extend its reach to more than 50 international markets by the end of the year, including Europe, Asia, Oceania, and Latin America.

Positive

• ZEEKR achieved a significant year-over-year increase of 89% in vehicle deliveries for June 2024.
• Year-to-date deliveries in 2024 saw a 106% growth compared to the same period last year.
• The flagship ZEEKR 001 model surpassed 200,000 deliveries, setting a new benchmark in China's premium BEV market.
• ZEEKR expanded into the Indonesian and Malaysian markets, aiming at further international growth.

Negative

• None.

Insights

Financial Analyst

ZEEKR's substantial delivery growth figures offer a telling indicator of their market position and competitive edge within the BEV sector. Delivering 20,106 vehicles in June 2024, an 89% year-over-year increase, reflects strong demand and effective scalability of their production capacities. Year-to-date deliveries amount to 87,870, marking a 106% growth from the previous year, indicating a robust upward trajectory.

Such substantial growth rates could positively influence ZEEKR's revenue and profitability metrics. This growth also signifies an expanding customer base and growing brand loyalty, which are important for long-term sustainability. However, investors should remain cautious of the high expectations these numbers set, as maintaining such rapid growth could encounter challenges such as supply chain constraints or increased competition.

Additionally, crossing the milestone of over 200,000 deliveries for the ZEEKR 001 in June 2024 underlines the product's strong market acceptance. This level of performance in China's premium BEV market highlights ZEEKR's competitive positioning.

Market Research Analyst

The expansion into Indonesia and Malaysia through partnerships with PT Premium Auto Prima and Sentinel Automotive indicates ZEEKR's strategic move to capture new markets in Southeast Asia. This is important as these markets exhibit rapid urbanization and increasing disposable incomes, making them fertile grounds for BEV adoption. Additionally, ZEEKR's presence in over 25 major markets and plans to expand to over 50 underscores their aggressive international growth strategy.

Entering emerging markets involves navigating different regulatory landscapes and consumer preferences, which can be both an opportunity and a risk. Furthermore, such international expansions, if executed successfully, can diversify revenue streams and reduce dependency on any single market, bolstering the company's resilience against localized economic downturns.

Tech Expert

The high delivery numbers not only reflect business growth but also imply that ZEEKR's technological offerings in their BEV lineup are resonating well with consumers. The milestone of 200,000 deliveries for the ZEEKR 001 also suggests that their flagship model is effectively meeting consumer demands for performance, range and advanced features. This success can be attributed to ZEEKR's continuous innovations in battery technology and vehicle intelligence, which are critical factors for success in the BEV market.

As ZEEKR further penetrates international markets, maintaining technological superiority will be essential. Their ability to innovate and adapt to regional preferences will determine their success. For investors, technological leadership is a key competitive advantage that can drive long-term growth and market share gains.

HANGZHOU, China, July 1, 2024 /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("ZEEKR" or the "Company") (NYSE: ZK), a fast-growing intelligent battery electric vehicle ("BEV") technology company, today announced its delivery results for June 2024.

ZEEKR delivered 20,106 vehicles in June 2024, representing a remarkable 89% year-over-year increase. Year-to-date, ZEEKR has delivered 87,870 vehicles in 2024, a 106% growth over the same period last year. As of the end of June 2024, ZEEKR's cumulative deliveries reached 284,503.

Notably, the Company's flagship ZEEKR 001 surpassed 200,000 deliveries in June 2024, setting a new benchmark in China's premium BEV market.

In June 2024, ZEEKR entered into cooperation agreements with PT Premium Auto Prima in Indonesia and Sentinel Automotive Sdn. Bhd. in Malaysia, respectively, officially announcing its expansion into the Indonesian and Malaysian markets. ZEEKR is currently present in over 25 major markets worldwide and aims to expand to more than 50 international markets this year, covering Europe, Asia, Oceania and Latin America.

About ZEEKR

ZEEKR is a fast-growing intelligent BEV technology company. The Company aspires to lead the electrification, intelligentization, and innovation of the automobile industry through the development and sales of next-generation premium BEVs and technology-driven solutions. Incorporated in March 2021, ZEEKR has focused on innovative BEV architecture, hardware, software, and the application of new technologies. Its current product portfolio primarily includes ZEEKR 001, a five-seater, cross-over shooting brake; ZEEKR 001 FR, its latest cross-over shooting brake; ZEEKR 009, a luxury six-seater MPV; ZEEKR 009 Grand, a four-seat deluxe version of ZEEKR 009; ZEEKR X, a compact SUV, and an upscale sedan model.

With a mission to create the ultimate mobility experience through technology and solutions, ZEEKR's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as the creation of a series of customer-oriented products and go-to-market strategies.

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-june-2024-delivery-update-302186672.html

SOURCE ZEEKR Intelligent Technology Holding Limited

FAQ

What were ZEEKR's vehicle deliveries in June 2024?

ZEEKR delivered 20,106 vehicles in June 2024, representing an 89% year-over-year increase.

How many vehicles has ZEEKR delivered year-to-date in 2024?

ZEEKR has delivered 87,870 vehicles year-to-date in 2024, reflecting a 106% growth over the same period last year.

What is the cumulative delivery count for ZEEKR as of June 2024?

As of the end of June 2024, ZEEKR's cumulative deliveries reached 284,503 vehicles.

How many ZEEKR 001 vehicles have been delivered as of June 2024?

The ZEEKR 001 model surpassed 200,000 deliveries as of June 2024.

Which new markets did ZEEKR enter in June 2024?

In June 2024, ZEEKR entered the Indonesian and Malaysian markets.

With which companies did ZEEKR partner to expand into Indonesia and Malaysia?

ZEEKR partnered with PT Premium Auto Prima in Indonesia and Sentinel Automotive Sdn. Bhd. in Malaysia.

How many markets is ZEEKR currently present in?

ZEEKR is currently present in over 25 major markets worldwide.

What are ZEEKR's expansion plans for 2024?

ZEEKR aims to expand to more than 50 international markets by the end of 2024, covering regions like Europe, Asia, Oceania, and Latin America.