ZEEKR Announces August 2024 Delivery Update

Rhea-AI Summary

ZEEKR Intelligent Technology Holding (NYSE: ZK), a fast-growing BEV company, reported strong delivery results for August 2024. The company delivered 18,015 vehicles, marking a 46% year-over-year increase. Year-to-date deliveries reached 121,540 vehicles, representing an 81% growth compared to the same period last year. ZEEKR's cumulative deliveries totaled 318,173 by the end of August.

Additionally, ZEEKR launched its mid-to-large SUV, the ZEEKR 7X, on August 30. The vehicle features a spacious cabin with best-in-class front-row headroom and second-row legroom among midsize SUVs. Deliveries for the Chinese market are set to begin by the end of September, with global deliveries expected within the next year.

Positive

• 46% year-over-year increase in August 2024 deliveries
• 81% year-to-date growth in vehicle deliveries compared to the same period last year
• Launch of new mid-to-large SUV model ZEEKR 7X
• Cumulative deliveries reached 318,173 vehicles

Negative

• None.

Insights

Financial Analyst

ZEEKR's August delivery figures showcase robust growth, with 18,015 vehicles delivered, marking a 46% year-over-year increase. This strong performance has contributed to year-to-date deliveries of 121,540 vehicles, representing an impressive 81% growth compared to the same period last year. The company's cumulative deliveries reaching 318,173 indicates a solid market presence and growing consumer acceptance.

The launch of the ZEEKR 7X, a mid-to-large SUV, could potentially drive further growth. The emphasis on spaciousness and comfort suggests a strategic move to capture a broader market segment. However, investors should closely monitor the market reception and initial sales figures of this new model to gauge its impact on future revenue streams.

Market Research Analyst

ZEEKR's consistent delivery growth amidst a competitive EV landscape signals strong brand positioning and product appeal. The 46% year-over-year increase in August deliveries outpaces the overall EV market growth, suggesting potential market share gains. The introduction of the ZEEKR 7X into the mid-to-large SUV segment is a strategic move to diversify the product portfolio and tap into a lucrative market segment.

The company's expansion plans, including global deliveries of the ZEEKR 7X within the next year, indicate ambitions beyond the Chinese market. This global strategy could open new revenue streams but also brings challenges in terms of international competition and regulatory compliance. Investors should watch for updates on international market entry strategies and potential partnerships.

HANGZHOU, China, Sept. 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 August 2024.

ZEEKR delivered 18,015 vehicles in August 2024, marking a 46% year-over-year increase. Year-to-date, ZEEKR has delivered 121,540 vehicles in 2024, representing 81% growth compared to the same period last year. By the end of August 2024, ZEEKR's cumulative deliveries had reached 318,173.

On August 30, ZEEKR officially launched its mid-to-large SUV, the ZEEKR 7X, revealing additional interior design details. The ZEEKR 7X boasts an exceptionally spacious and comfortable cabin, offering best-in-class front-row headroom and second-row legroom among midsize SUVs. Deliveries for the Chinese market are scheduled to commence by the end of September, with global deliveries expected to follow within the next year.

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. Our diverse product lineup spans a range of vehicle models, including shooting brakes, MPVs and upscale sedans, all meticulously designed to cater to our customers' evolving needs.

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-august-2024-delivery-update-302235506.html

SOURCE ZEEKR Intelligent Technology Holding Limited

FAQ

How many vehicles did ZEEKR deliver in August 2024?

ZEEKR delivered 18,015 vehicles in August 2024, representing a 46% year-over-year increase.

What is ZEEKR's year-to-date delivery count for 2024?

ZEEKR has delivered 121,540 vehicles year-to-date in 2024, showing an 81% growth compared to the same period last year.

When did ZEEKR launch its new ZEEKR 7X SUV model?

ZEEKR officially launched its mid-to-large SUV, the ZEEKR 7X, on August 30, 2024.

When will ZEEKR start deliveries of the ZEEKR 7X in China?

Deliveries of the ZEEKR 7X for the Chinese market are scheduled to commence by the end of September 2024.