Geely's EV Arm Zeekr Sets Sights On Doubling Car Deliveries In 2024: Report
Portfolio Pulse from Shivani Kumaresan
Geely Automobile Holding's electric car subsidiary, Zeekr, aims to double its car deliveries to 230,000 vehicles in 2024. Zeekr experienced a 65% increase in sales in 2023, delivering 118,685 cars but fell short of its 140,000 target. The company is expanding in Europe, the Middle East, and Asia, and postponed its U.S. IPO due to valuation issues and market instability. Geely's stock (GELYY) closed slightly higher at $21.38.
January 08, 2024 | 11:29 am
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Geely's EV arm Zeekr plans to double deliveries in 2024, indicating strong growth prospects. Despite missing 2023 targets and postponing the U.S. IPO, the company's expansion plans could bolster investor confidence.
Zeekr's aggressive delivery targets for 2024 suggest a positive outlook for Geely's growth in the EV sector. Although the company missed its 2023 targets and delayed its U.S. IPO, the stock's slight increase indicates market optimism. The expansion into new markets could further drive sales and potentially increase the stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100