ZEEKR reported strong Q1 2024 results with total revenue reaching RMB14.7 billion ($2.04 billion), up 71% YoY. Vehicle deliveries increased 117% YoY to 33,059 units, while vehicle sales revenue grew 73% to RMB8.2 billion. The company achieved a vehicle margin of 14%, up from 10.1% in Q1 2023.Despite revenue growth, the company posted a net loss of RMB2.02 billion ($280.1 million), though this represented an 18% improvement YoY. Gross profit surged 154.9% YoY to RMB1.74 billion, with gross margin expanding to 11.8% from 7.9%. Operating expenses increased as the company invested in R&D and market expansion.Looking ahead, ZEEKR maintains its 230,000-unit delivery target for 2024, supported by new model launches including the ZEEKR 001 2024 model and ZEEKR 009 Grand. The company's recent NYSE listing has strengthened its balance sheet, positioning it for continued growth in both domestic and international markets.

ZEEKR reported strong Q1 2024 results with total revenue reaching RMB14.7 billion ($2.04 billion), up 71% YoY. Vehicle deliveries increased 117% YoY to 33,059 units, while vehicle sales revenue grew 73% to RMB8.2 billion. The company achieved a vehicle margin of 14%, up from 10.1% in Q1 2023.Despite revenue growth, the company posted a net loss of RMB2.02 billion ($280.1 million), though this represented an 18% improvement YoY. Gross profit surged 154.9% YoY to RMB1.74 billion, with gross margin expanding to 11.8% from 7.9%. Operating expenses increased as the company invested in R&D and market expansion.Looking ahead, ZEEKR maintains its 230,000-unit delivery target for 2024, supported by new model launches including the ZEEKR 001 2024 model and ZEEKR 009 Grand. The company's recent NYSE listing has strengthened its balance sheet, positioning it for continued growth in both domestic and international markets.