Geely's Zeekr 001 on its way to Europe and Zeekr prepares for IPO

26 August 2023

Geely, the Chinese automotive giant, is preparing to bring the first units of its Zeekr 001 electric flagship to Europe. The first batch is aimed at Netherlands and Sweden, with more European countries on the list for the future.

Zeekr's expansion plan is also quite, let's say, "ambitious." It eyes Norway, Germany, Denmark, and France for the next two years, and aims to cover the entirety of Western Europe by 2026. Also, if you're concerned about navigating around Europe, worry not! The car offers navigation for 32 European countries and supports nine European languages.

Priced at a cool $63,840, the European version of Zeekr 001 is a result of a joint effort by Geely and its European R&D center, China Europe Vehicle Technology (CEVT). In China, the 001 ranges from $43,500 to $55,900 and offers a cruising range of 339 miles to 641 miles. One fascinating aspect is that earlier this year, a special version of the Zeekr 001 equipped with CATL’s CTP 3.0 Qilin batteries was rolled out, marking it as the world’s first mass-produced model with these batteries.

Zeekr is also aiming for a Wall Street listing. The company plans to issue up to 926,074,300 ordinary shares on the New York Stock Exchange. The move comes after filing with the China Securities Regulatory Commission (CSRC). Mind you, the filing doesn't mean approval. It's just the first step in a long line of corporate hurdles.

New rules introduced at the end of 2021 by the CSRC now require Chinese companies to report to their home regulators for US listings. All thanks to some rather dramatic episodes with companies like Luckin Coffee and Didi. So, Zeekr will need more than just good looks and a sleek design to make it on Wall Street.

So, is Zeekr 001 worth all the attention it's getting? On paper, it seems to offer a lot for the price, but real-world performance often tells a different story. Let's not forget that the EV market is already getting flooded with choices, and consumers are getting pickier by the day. Therefore, Zeekr 001 needs to do more than just show up; it needs to stand out.

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