Zeekr Explained

Zeekr Intelligent Technology Holding Limited
Native Name:极氪
Type:Public
Industry:Automotive
Hq Location City:Ningbo, Zhejiang
Hq Location Country:China
Operating Income: US$-1.15 billion (2023)
Net Income: US$-1.16 billion (2023)
Assets: US$3.82 billion (2023)
Equity: US$-1.22 billion (2023)
Num Employees:16,645 (2023)

Zeekr Intelligent Technology Holding Limited, trading as Zeekr is a Chinese publicly listed automobile company and brand owned by Geely Automobile Holdings. Founded in 2021, it specializes in premium electric cars. Zeekr products are built on the EV-focused Sustainable Experience Architecture (SEA) platform.

The name of the brand is made up of the letter 'Z' from 'Generation Z', and the term geek.[1]

History

Zeekr was founded in March 2021 as a premium electric mobility brand for battery-powered vehicles by the Geely Group to compete against Nio and Tesla, among others. Its first model, the Zeekr 001 was officially launched in April 2021.[2] The Zeekr models are to be based on the SEA platform presented in autumn 2020.[3] Zeekr started delivering the 001 model in October 2021 a vehicle originally planned to be launched by sister brand Lynk & Co.[4] In 2022, Zeekr delivered 71,941 Zeekr 001 to customers across more than 330 cities in China. Its subsidiary Zeekr Power covers more than 110 cities with over 660 stations.[5]

Zeekr developed Waymo's autonomous robotaxi.[6] [7] [8] In December 2021, Geely announced that Zeekr would be collaborating with Waymo to develop and provide all-electric, autonomous ride-hailing vehicle for the Waymo One autonomous mobility service in the United States.[9] The vehicle integrated with Waymo's technology was unveiled in Los Angeles in November 2022.[10]

In January 2022, a cooperation between Zeekr and Mobileye was announced to expand their strategic technology partnership with a goal to deliver the world's first consumer autonomous vehicles with L4 capabilities by 2024.[11] [12]

In August 2022, Zeekr announced their cooperation with CATL, making them the first brand to use CATL's Qilin long range batteries for global mass production. The Zeekr 001 will be the first model to use the new batteries, enabling them to have a pure electric range exceeding 1000km (1,000miles).[13]

Zeekr raised in its first external fundraising from five investors including Intel Capital, CATL, Bilibili in August 2021. On February 13, 2023, Zeekr is valued at after it raised from five investors.[14] In May 2024, Zeekr filed its initial public offering (IPO) on the New York Stock Exchange. Zeekr raised around, making it the largest IPO of a Chinese company since 2021.[15]

In August 2024, Zeekr has faced criticism for launching the 2025 model year of the Zeekr 001 in China just six months after releasing the previous version in February 2024. It led to protests among customers who recently purchased the earlier model, as their vehicles have quickly been superseded by a newer version. The 2024 model came equipped with Mobileye chips, which cannot be upgraded to the new Haohan Intelligent Driving 2.0 system from the 2025 model. In response, Zeekr CEO An Conghui acknowledged the issue, admitting that the company could have better communicated its product release plans.[16]

Market availability

Zeekr first launched in China and starting expanding into Europe. Its first European showroom opened in Stockholm, Sweden in 2023.[17] Sweden, together with the Netherlands, were the first European markets which Zeekr entered in 2023.[18]

In 2024, the brand will expand into Denmark, Germany, France, Norway, Israel, and Australia, and plans to enter the Singapore market by the end of the year.[19] [20] Additionally, the brand will begin constructing showrooms in Japan in the fourth quarter of 2024, with sales and deliveries expected to start in 2025.[21] Zeekr is also set to enter the Brazilian market in September 2024 and is planning to officially launch in South Korea in 2025.[22] [23]

Facility

In 2023, Zeekr had three R&D facilities in China – Ningbo, Hangzhou, Shanghai as well as Zeekr Technology Europe (previously China Euro Vehicle Technology or CEVT) in Gothenburg, Sweden.[24] [25] Its global design center is also located in Gothenburg, Sweden.[26] Zeekr's European headquarters and sales office were moved from Gothenburg to Amsterdam due to higher concentration of experienced sales professionals.[27] [28]

Zeekr's factory has a manufacturing capacity of up to 300,000 vehicles per year and can be expanded further.[29]

Products

Current models

Upcoming models

Concept models

M-Vision is built on SEA-M architecture to showcase the architecture's fundamental features such as expansive interior, open seat choice, and placement option, no B-pillar, and robust electrical/electronic (E/E) backbone supporting autonomous drive and connected devices. M-Vision is a base model that can be developed for a range of future mobility products including robotaxis, multi-purpose vehicles, and logistics vehicles.[34]

Sales

!Year!Sales
20216,007[35]
202271,941[36]
2023118,685[37]

See also

Notes and References

  1. Web site: Mark Andrews . 29 December 2021 . Zeekr 001 exclusive first test drive . 29 December 2021 . carnewschina.com . en.
  2. Web site: Zhang/CnEVPost . Phate . 2023-01-31 . Zeekr aims for 140,000 sales in 2023, to launch 2 new models, CEO says in internal letter . 2023-03-03 . CnEVPost . en-US.
  3. Web site: Stefan Leichsenring . Geely gründet Elektromarke Zeekr, um gegen Tesla und Nio anzutreten . insideevs.de . 22 March 2021 . 27 April 2021.
  4. Web site: Ruffo . Gustavo Henrique . 2023-10-03 . ZEEKR's Main Mission Is to Detach From Lynk & Co, and ZEEKR X Represents the First Step . 2024-01-27 . autoevolution . en.
  5. News: January 20, 2023 . ZEEKR: The Up-and-Coming Electric Vehicle Manufacturer Making a Big Impact on the Global Stage . January 23, 2023 . The EV Report.
  6. Web site: Lorio . Joe . 2023-11-01 . Zeekr CM1e Seeks to Be Waymo's Next Robo-Taxi . 2024-01-15 . Car and Driver.
  7. Web site: Liao . Rita . 2023-10-09 . Waymo-Zeekr robotaxi poised for US testing by end of 2023 . 2024-01-15 . TechCrunch.
  8. Web site: Bassett . Abigail . Abigail Bassett . 2022-11-21 . Waymo's new robotaxi is an all-electric people mover with no steering wheel . 2024-01-15 . The Verge.
  9. Web site: Mick Chan . Zeekr, Waymo collaborate to develop autonomous ride-hailing electric vehicle for the United States . paultan.org . en . 29 December 2021 . 5 January 2022.
  10. Web site: Waymo reveals robotaxi based on Zeekr SEA-M platform . 2023-03-03 . Motor Authority . 17 November 2022 . en.
  11. Web site: Mobileye and ZEEKR Expand Partnership to Enable Future of Cars Mobileye News . 2023-03-03 . Mobileye . en.
  12. Web site: Danny Tan . Zeekr, Intel's Mobileye to collaborate on autonomous cars – goal is world's first consumer L4 AVs by 2024 . paultan.org . en . 5 January 2022 . 5 January 2022.
  13. Web site: CATL and ZEEKR sign five-year strategic cooperation agreement, first volume of Qilin batteries to power ZEEKR models . 2023-03-03 . www.catl.com.
  14. News: 2023-02-13 . Geely's EV brand Zeekr raises $750 million in fresh funding round . en . Reuters . 2023-02-27.
  15. Web site: Or . Amy . 2024-05-10 . Geely's EV Maker Zeekr Said to Raise $441 Million in US IPO . 2024-05-22 . www.bloomberg.com.
  16. Web site: Andrews . Mark . 2024-08-14 . Zeekr come in for criticism for launching another new 001 – just 6 months after the last . 2024-08-15 . CarNewsChina.com . en-US.
  17. Web site: Zeekr's First European Showroom Opens in Stockholm . Zeekr Global. 2023-11-16 . 2024-01-06.
  18. Web site: China's EV maker Zeekr opens orders for two luxury cars in Sweden, Netherlands . Reuters. 2023-06-28 . 2024-01-06.
  19. Web site: Chinese EV maker Zeekr to enter Israeli market . ezhejiang.gov.cn . 2023-07-12 . 2024-01-06.
  20. Web site: Chinese EVs gain popularity as more brands and models reach Singapore shores . 2024-07-17 . CNA . en . Other Chinese EV brands like Xpeng and Zeekr are also set to hit the market this year..
  21. Web site: Zhang . Phate . 2024-08-12 . Zeekr to start building showrooms in Japan in Q4 for local market entry in 2025 . 2024-08-12 . CnEVPost . en-US.
  22. Web site: Zeekr estreia no Brasil em setembro com os elétricos premium 001 e X . 2024-07-17 . InsideEVs Brasil . pt.
  23. Web site: 2024-05-14 . 중국 지리그룹 전기차브랜드 지커(Zeekr), 2025년 한국 상륙 . Chinese Geely Group's electric vehicle brand Zeekr arrives in Korea in 2025 . 2024-07-21 . M투데이 . ko.
  24. Web site: Geely's upscale EV brand Zeekr announces foundation of Shanghai R&D center . 2024-01-06 . autonews.gasgoo.com.
  25. Web site: 2023-11-16 . First European Showroom Opens in Stockholm . https://web.archive.org/web/20231212145034/https://zeekrglobal.com/article/article-16/ . 12 December 2023 . 2023-12-12 . ZEEKR.
  26. Web site: About Zeekr . https://web.archive.org/web/20231212145019/https://www.zeekr.eu/about . 12 December 2023 . 2023-12-12 . Zeekr.
  27. Web site: 2023-10-10 . Zeekr to set up European HQ in the Netherlands . 2024-01-06 . Automotive News Europe.
  28. Web site: Doll . Scooter . 2023-10-12 . ZEEKR to move EU sales, marketing office to Netherlands . 2024-01-06 . Electrek.
  29. Web site: The Factory of the Future, ZEEKR's Intelligent Factory . 2023-03-03 . Media Center - Zhejiang Geely Holding Group . en-US.
  30. Web site: Lorio . Joe . Zeekr CM1e Seeks to Be Waymo's Next Robo-Taxi . Car and Driver . 2023-11-01 . 2024-01-15.
  31. Web site: Kang/CnEVPost . Lei . Zeekr reportedly to start mass production of new SUV to take on Tesla Model Y in late 2024 . CnEVPost . 2023-11-22 . 2024-01-06.
  32. Web site: Doll . Scooter . Zeekr is developing a new mass market SUV to challenge the Tesla Model Y . Electrek . 2023-11-22 . 2024-01-06.
  33. Web site: McDee . Max . First photos of the new Zeekr CX1E emerge . ArenaEV.com . 2024-01-04 . 2024-01-06.
  34. Web site: ZEEKR'S SEA-M ARCHITECTURE IS THE NEW ANSWER TO FUTURE MOBILITY . 2023-03-03 . IoT Automotive News . en-US.
  35. Web site: Matthew H Tong . 7 January 2022 . Geely sold 1,328,029 cars in 2021, up 1% from 2020 . 7 January 2022 . paultan.org . en.
  36. Web site: Kuhudzai . Remeredzai Joseph . 2023-01-17 . Geely Group Sales Of Electrified & Clean Alternative Fuel Vehicles Doubled To 675,000+ Units, 29% Of Sales . 2023-03-13 . CleanTechnica . en-US.
  37. Web site: 2024-01-01 . 【图】再创新高 极氪汽车12月交付13476台_汽车之家 . Zeekr Motors reaches new heights and delivers 13,476 units in December . 2024-01-01 . Autohome.

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