Chinese EV Makers Defy Industry Slump as Price Cuts Boost Sales [BNN Bloomberg (Canada)]
ZEEKR Intelligent Technology Holding Limited American Depositary Shares (each representing ten (10) Ordinary Shares) (ZK)
Company Research
Source: BNN Bloomberg
Seres Group Co., which works with Huawei Technologies Co. to make the popular Aito EVs, led the pack by delivering 34,100 cars in May, almost triple the amount from the same time last year. This was followed by Nio, with a 234% increase in units sold, and Zeekr Intelligent Technology Holding Ltd., which posted 115% growth in May sales. BYD, the country's best-selling brand, sold 330,488 passenger vehicles in May, an increase of just over a quarter compared with last year. The pace is slowing from last year, when BYD saw almost 100% growth. The continued growth comes as Chinese EV producers face mounting challenges at home and abroad. With the slowing demand for battery-powered vehicles driving up competition, EV makers are discounting and speeding up the launch of new models. BYD intensified the price war by cutting the prices of many popular models in February which led others to follow. Meanwhile, access to new overseas markets where manufacturers can charge higher prices is
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News
- ZEEKR Announces August 2024 Delivery UpdatePR Newswire
- ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) had its price target lowered by analysts at Bank of America Co. from $30.00 to $26.00. They now have a "buy" rating on the stock.MarketBeat
- ZEEKR Reports Second Quarter 2024 Unaudited Financial ResultsPR Newswire
- ZEEKR to Report Second Quarter 2024 Financial Results on August 21, 2024PR Newswire
- China's Automakers Post Mixed July Sales Amid Muted EV Demand [Financial Post (Toronto, Ontario, Canada)]Financial Post
ZK
Sec Filings
- 9/27/24 - Form S-8
- 9/3/24 - Form 6-K
- 8/21/24 - Form 6-K
- ZK's page on the SEC website