Geely’s Zeekr 001 on its way to Europe | Zeekr prepares for IPO

Geely’s Zeekr 001 on its way to Europe

Geely, the prominent Chinese automotive conglomerate, is gearing up to introduce the inaugural units of its flagship electric vehicle, the Zeekr 001, to the European market. The initial batch is targeted for release in the Netherlands and Sweden, with plans for expansion to other European nations in the pipeline.

Geely's Zeekr 001

Zeekr’s expansion strategy is notably ambitious, encompassing countries like Norway, Germany, Denmark, and France within the next two years. By 2026, the company aims to establish a presence across the entirety of Western Europe. Furthermore, for those concerned about navigation, the vehicle boasts navigation capabilities for 32 European countries and supports nine distinct European languages.

Priced at a competitive €59,490, the European variant of the Zeekr 001 is the result of a collaborative endeavor between Geely and its European research and development center, China Europe Vehicle Technology (CEVT). In the Chinese market, the 001 is offered at prices ranging from €40,500 to €52,100, featuring an impressive cruising range of 546 km to 1,032 km. Particularly intriguing is the recent introduction of a special edition Zeekr 001 equipped with CATL’s CTP 3.0 Qilin batteries, marking it as the world’s first mass-produced model featuring these advanced batteries.

Geely's Zeekr 001

In addition to its European endeavors, Zeekr is setting its sights on a listing on Wall Street. The company’s plan involves the issuance of up to 926,074,300 ordinary shares on the New York Stock Exchange. This move follows a filing made with the China Securities Regulatory Commission (CSRC). It’s important to note that this filing represents an initial step and doesn’t guarantee approval; it marks the commencement of a series of regulatory procedures.

This development stems from new regulations introduced by the CSRC in late 2021, requiring Chinese firms to undergo scrutiny from their domestic regulators before pursuing listings in the United States. This regulatory shift was prompted by significant incidents involving companies such as Luckin Coffee and Didi. As a result, Zeekr’s prospects on Wall Street rest on more than just its aesthetic appeal and streamlined design.

Considering the attention Zeekr 001 is attracting, it may appear promising on paper, but real-world performance often tells a divergent tale. It’s important to bear in mind that the electric vehicle market is already inundated with numerous choices, and consumer expectations are continuously evolving. Consequently, for Zeekr 001 to make a mark, it needs to go beyond mere presence and truly distinguish itself.

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