ZEEKR's Q4 2024 Earnings Call: Discrepancies in Financial Outlook, Market Strategy, and Product Launches

These are the key contradictions discussed in ZEEKR Intelligent Technology Holding Limited's latest 2024 Q4 earnings call, specifically including: Financial Projections, Market Expansion Strategy, and Product Launch Timelines:



Sales and Revenue Growth:
- ZEEKR Group delivered 500,000 vehicles in 2024, with the Lynk & Co brand delivering 280,000 units, marking a 30% year-over-year increase. The ZEEKR brand's deliveries surpassed 222,000 vehicles, representing an 87% year-over-year increase.
- The growth was attributed to strategic product expansion and enhancements in intelligent features, as well as the successful equity transaction with Geely Holdings.

Profitability and Cost Management:
- ZEEKR Group achieved a vehicle revenue of RMB55.5 billion, with a total RMB75.9 billion in revenue for 2024. The vehicle gross margin improved to 17.3% in Q4 and 15.6% for the full year.
- The improved profitability was due to strong product competitiveness, cost discipline in supply chain management, and operational efficiencies.

Technological Advancements and AI Integration:
- ZEEKR Group's full stack in-house development capabilities, including vehicle architecture, AI-driven powertrains, and autonomous driving, have positioned it as a leader in the industry.
- The group's investment in AI and autonomous driving technologies has contributed to the development of advanced systems, such as the first mass-produced end-to-end AI-powered large model and a nationwide rollout of map-free NZP.

Expansion into Global Markets:
- By 2025, ZEEKR aims to have 10% of its annual sales target come from the international market.
- The expansion strategy includes establishing a unified sales company for global markets and introducing new products tailored for the mainstream global markets, such as the Lynk & Co 08 EM-P and the ZEEKR 7X.