Written by Cláudio Afonso | [email protected] | LinkedIn | X
Geely‘s premium brand Zeekr became, on Friday, the fourth US listed electric vehicle manufacturer. Established in China back in 2021, the company needed only three years to debut in the New York Stock Exchange as it plans to expansion in six to eight European countries this year.
The stock of the EV brand opened at $26 surging to over $29 within the first minutes of trading. After giving up 10 percent of those gains, the stock ended up the day closing at $28.26 per share — a 34.57 percent gain.
On Friday, all the other US-listed Chinese NEV stocks — Nio, Xpeng, Li Auto — dropped between 2 and 5.50 percent on reports that the US administration is set to increase the tariffs by nearly 400 percent next week.
Last year, Zeekr reported $7.28 billion in total revenue — an increase of 62 percent year over year — while yearly losses accounted for $1.16 billion. The brand delivered 118,685 vehicles in 2023, up 64.98 percent from the previous year.
Year to date, Zeekr delivered 49,148 vehicles, more than doubling last year’s figures. Available in Sweden and the Netherlands, the company is also planning the arrival to Latin American countries.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
