ZEEKR Announces September 2024 Delivery Update

Rhea-AI Summary

ZEEKR (NYSE: ZK), a global premium electric mobility technology company, reported strong delivery results for September 2024. The company delivered 21,333 vehicles, marking a 77% year-over-year increase. Year-to-date deliveries reached 142,873 vehicles, representing an 81% growth compared to the same period last year. ZEEKR's cumulative deliveries totaled 339,506 by the end of September 2024.

On September 20, 2024, ZEEKR introduced its new premium electric five-seater SUV, the ZEEKR 7X. Deliveries for this model began the following day. The ZEEKR 7X is designed to offer a combination of luxurious comfort and strong off-road capabilities, making it suitable for both urban and challenging environments.

Positive

• Delivered 21,333 vehicles in September 2024, a 77% year-over-year increase
• Year-to-date deliveries reached 142,873 vehicles, an 81% growth over the same period last year
• Cumulative deliveries reached 339,506 by the end of September 2024
• Launched new premium electric five-seater SUV, ZEEKR 7X, with immediate delivery commencement

Negative

• None.

Insights

Automotive Industry Analyst

ZEEKR's September delivery figures demonstrate impressive year-over-year growth, signaling strong market demand for their electric vehicles. The 77% increase in monthly deliveries and 81% growth in year-to-date deliveries are substantial, especially in the competitive EV market. The launch of the ZEEKR 7X SUV is a strategic move to diversify their product line and tap into the popular SUV segment. This expansion could potentially boost future sales and market share. However, it's important to consider how ZEEKR's growth compares to overall market trends and competitors' performance. While the numbers are promising, investors should also look at profit margins, production capacity and the company's ability to maintain this growth trajectory amidst increasing competition and potential supply chain challenges in the EV sector.

Financial Analyst

The delivery numbers reported by ZEEKR are noteworthy from a financial perspective. With 21,333 vehicles delivered in September and 142,873 year-to-date, the company is showing strong sales momentum. This growth trajectory, if sustained, could significantly impact revenue and potentially lead to economies of scale, improving profit margins. The rapid market acceptance of their new ZEEKR 7X model, with deliveries starting immediately after launch, suggests effective inventory management and production capabilities. However, investors should be cautious and look for upcoming financial reports to assess how this sales growth translates into revenue and profitability. Key factors to watch include the average selling price of vehicles, production costs and any potential impact on the company's cash burn rate as they scale operations. The cumulative delivery figure of 339,506 indicates ZEEKR is establishing a significant market presence, which could be leveraged for future growth and brand value.

HANGZHOU, China, Oct. 1, 2024 /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 September 2024.

ZEEKR delivered 21,333 vehicles in September 2024, a 77% year-over-year increase. Year-to-date, ZEEKR has delivered 142,873 vehicles in 2024, representing 81% growth over the same period last year. As of the end of September 2024, ZEEKR's cumulative deliveries reached 339,506.

On September 20, 2024, ZEEKR officially unveiled its premium electric five-seater SUV, the ZEEKR 7X, with deliveries commencing the very next day. The ZEEKR 7X is designed to challenge the conventional, seamlessly combining luxurious comfort with robust off-road capabilities, making it ideal for both urban and challenging conditions. 

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 delivered around 340,000 vehicles to date including the ZEEKR 001, ZEEKR 001 FR, ZEEKR 009 MPV, luxury sedan, ZEEKR 7X and ZEEKR X urban SUV. 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-september-2024-delivery-update-302263380.html

SOURCE ZEEKR Intelligent Technology Holding Limited

FAQ

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

ZEEKR (ZK) delivered 21,333 vehicles in September 2024, representing a 77% year-over-year increase.

What was ZEEKR's (ZK) year-to-date delivery count for 2024?

ZEEKR's (ZK) year-to-date deliveries for 2024 reached 142,873 vehicles, showing an 81% growth compared to the same period last year.

When did ZEEKR (ZK) launch its new ZEEKR 7X model?

ZEEKR (ZK) officially unveiled its new premium electric five-seater SUV, the ZEEKR 7X, on September 20, 2024, with deliveries starting the next day.

What is the total cumulative delivery count for ZEEKR (ZK) as of September 2024?

As of the end of September 2024, ZEEKR's (ZK) cumulative deliveries reached 339,506 vehicles.