Zeekr's Record Revenue Highlights Its Competitive Edge in the EV Market

Wednesday, 21 August 2024, 11:00

Zeekr, the premium electric vehicle maker, has reported a record revenue of 20 billion yuan as competition grows among brands like Tesla and Nio. The company's net loss has narrowed, signaling a resurgence in its quarterly performance. With aggressive market tactics, Zeekr is positioning itself strongly against rivals in the EV industry.
South China Morning Post
Zeekr's Record Revenue Highlights Its Competitive Edge in the EV Market

Zeekr Continues to Challenge Rivals in the Electric Vehicle Market

Zeekr, controlled by Geely Auto, reported a record revenue of 20 billion yuan in the second quarter of 2024, a 36% increase from the previous quarter. This performance not only surpassed its previous record of 16.4 billion yuan but also exceeded analyst expectations.

Financial Performance and Competitive Landscape

  • Net loss decreased 10.5% to 1.81 billion yuan.
  • Deliveries increased by 65.8% to 54,811 units in the second quarter.
  • Discount strategies have been implemented to attract buyers amidst fierce competition.

CEO An Conghui emphasized the importance of investing in research and development to maintain technological leadership. The company plans to ramp up production aiming for 30,000 units per month in Q4 2024.

Future Outlook and Global Expansion

  1. In May, Zeekr raised US$441 million in the stock offering.
  2. New battery technologies unveiled promise enhanced driving ranges.
  3. Geely Auto reported a 575% increase in net profit in H1 2024.

Zeekr is poised to become a formidable player among premium brands in the EV sector, actively competing with giants like Tesla, Nio, and Xpeng.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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