Company Description

OUR MISSION To create the ultimate experience of mobility life through our technology and solutions. We are a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, we aspire to lead the electrification, intelligentization and innovation of the automobile industry. Since our inception, we have focused on innovation in BEV architecture, hardware, software, and application of new technologies. Our efforts are backed by our strong in-house R&D capabilities, deep understanding of products, high operational flexibility, and flat, efficient organization structure. Together, these features enable fast product development, launch and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, we are able to rapidly expand even with a limited operating history. We strategically spearheaded the premium intelligent BEV market with unique positioning, featuring strong sense of technology, in-house R&D capabilities, stylish design, high caliber performance and premium user experience. Our current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR X and an upscale sedan model. • ZEEKR 001. With an unwavering commitment to our mission, we released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is our first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. It is also the first mass-produced BEV model with over 1,000km CLTC range, according to Frost & Sullivan. We began the delivery of ZEEKR 001 in October 2021. In February 2024, we released an upgraded model of ZEEKR 001, or ZEEKR 001 (2024 model). We started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, we released ZEEKR 001 FR, our cross-over hatchback vehicle model based on ZEEKR 001. Featuring unique exterior and interior design and our proprietary technologies, ZEEKR 001 FR is designed to offer outstanding vehicle performance with various driving modes. We started to deliver ZEEKR 001 FR in November 2023. • ZEEKR 009. In November 2022, we launched our second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. It is the world’s first premium MPV based on pure-electric platform, according to Frost & Sullivan. ZEEKR 009 has enjoyed wide popularity since launch, and we started to deliver ZEEKR 009 to our customers in January 2023. In April 2024, we launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy and intelligence. We also released ZEEKR MIX, our MPV model, in the same month. • ZEEKR X. In April 2023, we released ZEEKR X, our compact SUV model featuring spacious interior design, advanced technology and superior driving performance. We began to deliver ZEEKR X in June 2023. • ZEEKR Upscale Sedan Model. In November 2023, we launched our first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension structure, our upscale sedan model is expected to achieve a 2.84s 0-100km/h acceleration and a 688km maximum CLTC range. We began the delivery of our first upscale sedan model in January 2024. Our current and future BEV models will define our success. Going forward, we plan to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, we plan to launch vehicles for next generation mobility lifestyle. Through these future models, we intend to provide premium mobility solutions of innovation, comfort and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of our current products and our capabilities, we have achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, we delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, we delivered a total of 196,633 ZEEKR vehicles since our first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. The development of our BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pick up truck and robotaxi, which have a wheelbase mainly between 1,800mm to 3,300mm. We depend on Geely Holding to allow us to continue to utilize SEA, which is currently the most suitable platform for us. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency and control consistency in the vehicle development process, giving our BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, we were able to equip ZEEKR 009 with CATL’s latest Qilin battery, making ZEEKR 009 the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. Together with our proprietary advanced battery solutions and highly efficient electric drive system, ZEEKR 009’s extended range version is the world’s first pure-electric MPV model with an over 800km CLTC range and the longest all electric range in the MPV market by the end of February 2024, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, we inherit unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the ZEEKR brand. These competitive advantages enable us to quickly incorporate the customer needs and concepts into our products and manage the complex operation process to achieve the fast ramp up of production and deliveries. We also leverage Geely Group’s advanced and well-established manufacturing capacity, which helps us retain effective oversight over key steps in procurement, manufacturing and product quality control with minimal capital outlay. At the same time, our BEVs are manufactured at the manufacturing plant in Ningbo Hangzhou Bay New Zone owned by Geely Holding (the “ZEEKR Factory”), the manufacturing plant in Chengdu owned by Geely Auto (the “Chengdu Factory”), or the manufacturing plant in Ningbo Beilun District owned by Geely Holding (the “Meishan Factory”), and Geely Holding was our largest supplier for 2022 and 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of our revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. We have strong in-house technological capabilities focusing on electrification and intelligentization. Our in-house design, engineering and R&D enable us to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, our in-house capabilities are also supported by (i) our Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, our PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions and energy storage. Leveraging our in-house E/E Architecture design and operating system, ZEEKR OS, we continuously update our BEV functions through effective and efficient FOTA. We deploy into our BEVs with cutting-edge autonomous driving technology by world-leading players such as Mobileye, and have also announced our plan to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into our centralized vehicle computer for our next generation intelligent BEV. We also offer intelligent cockpit to deliver interactive, immersive and enjoyable driving experiences. To successfully achieve our mission, we assembled a top-notch management team with diversified yet complementary backgrounds and experiences. Our management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving our future development. Our co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to ZEEKR, Mr. An has successfully established, developed and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. We are guided by our customer-oriented principle to provide customers with service and experience in every aspect of their journey with us. We adopt a customer-oriented DTC sales model with a focus on innovative and interactive engagement with our customers. We have established extensive customer touchpoints including 24 ZEEKR Centers, 240 ZEEKR Spaces, 31 ZEEKR Delivery Centers and 45 ZEEKR Houses in China, and two ZEEKR Centers overseas as of December 31, 2023. In addition, we closely interact with customers through building an integrated online and offline customer community to provide a holistic experience that goes beyond purchase of intelligent BEVs. Within ZEEKR APP, customers can enjoy one-stop car purchase, charging solution, financial service, roadside assistance, intelligent car control, online shopping of ZEEKR lifestyle products, social interaction, and seamless communication with the customer services team. We also hold a variety of offline customer events to nurture a vibrant ZEEKR user community. Our customer engagement efforts enable us to better understand customer needs to be incorporated into our future product design, and continuously strengthen customer loyalty and stickiness. Underpinned by our superior capability in supply chain and manufacturing planning and management, we are also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by our customers. We have established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through our proprietary ultra-fast charging technology developed by Ningbo Viridi. As of December 31, 2023, there were 882 ZEEKR charging stations with different charging capabilities, including 436 ultra charging stations, 330 super charging stations and 116 light charging stations, covering over 130 cities in China, further supported by over 54 thousand third-party charging stations that cover over 340 cities in China with approximately 610 thousand charging piles in total. We have established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for our business development and global expansion. For example, we collaborate with Mobileye, a subsidiary of Intel and one of our strategic investors, for consumer-ready autonomous driving solutions. Going forward, we will continue to deepen our collaboration with Mobileye. We are working with Waymo, a leader in L4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The vehicles are purpose-built TaaS vehicles based on SEA-M, which is an advanced version of SEA and a high-tech mobility solution that supports a range of future mobility products including robotaxis and logistics vehicles. Furthermore, we have deep relationships with a range of leading suppliers, such as CATL, Bosch and Aptiv. In addition, we have a relationship with Onsemi, a leader in intelligent power and sensor technologies. We will be provided with Onsemi’s EliteSiC, its silicon carbide power devices, to enhance the performance, charging efficiency and driving range for our BEV products. We operate in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be approximately five times and reach 13.7 million units in 2028 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience an even faster growth, almost increasing to over seven times the volume in 2021 by 2028, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 5.3 million units in sales volume in 2028, representing a CAGR of 18.6% from 2024 to 2028, according to Frost & Sullivan. In the future, we also plan to tap into the robotaxi market in the United States. In December 2023, we started to deliver ZEEKR 001 in Europe. Our revenue from vehicle sales amounted to RMB1,544.3 million, RMB19,671.2 million and RMB33,911.8 million (US$4,776.4 million) in 2021, 2022 and 2023, respectively, with a gross profit margin of 1.8%, 4.7% and 15.0%, respectively. In addition to vehicle sales, we generated revenues from research and development service and other services and sales of batteries and other components. --- Our principal executive offices are located at No. 1388 Minshan Road, Xinqi Street, Beilun District, Ningbo, Zhejiang, People’s Republic of China. Our telephone number at this address is +86 400-003-6036. Our registered office in the Cayman Islands is located at the offices of 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands. Our agent for service of process in the United States is located at 122 East 42nd Street, 18th Floor, New York, NY 10168. Our principal website is www.zeekrlife.com.