Geely Plans to Introduce Zeekr EV Brand in Korea by Early 2026 [BNN Bloomberg (Canada)]
ZEEKR Intelligent Technology Holding Limited American Depositary Shares (each representing ten (10) Ordinary Shares) (ZK)
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Source: BNN Bloomberg
Geely's upmarket EV brand Zeekr Intelligent Technology Holding Ltd., which went public in the US in May, will open showrooms in Seoul and Gyeonggi, the province surrounding the capital, by the end of next year and start deliveries in the first quarter of 2026, Geely said in an emailed response to questions from Bloomberg News. The first model to be released in South Korea may be the Zeekr 001, an EV that can travel up to 620 kilometers (385 miles) on a single charge, although those plans aren't final. Chinese automakers are being lured to South Korea despite a new rule that gives more subsidies for EVs with a higher estimated value of recycled metals such as lithium, nickel, cobalt, and manganese, disadvantaging carmakers using LFP (lithium iron phosphate) batteries, which Chinese companies generally do. But faced with provisional tariffs that Europe is levying on EVs imported from China and tariffs of 100% from the US, Chinese carmakers are looking to other markets for growth.
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News
- ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) is now covered by analysts at Macquarie. They set an "outperform" rating and a $33.00 price target on the stock.MarketBeat
- ZEEKR Announces September 2024 Delivery UpdatePR Newswire
- 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
ZK
Sec Filings
- 10/2/24 - Form 6-K
- 9/27/24 - Form S-8
- 9/3/24 - Form 6-K
- ZK's page on the SEC website