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Market Chatter: Geely to Introduce EV Brand Zeekr in South Korea by 2026
Zeekr Intelligent Technology (ZK) may enter the South Korean market as early as 2026 with its Zeekr 001 premium electric vehicle as Geely and other Chinese automakers look to enter the country's EV ma
DBS: Maintains a "buy" rating on Geely Auto, with a target price raised to HKD 11.7.
DBS released a research report stating that it maintains a "Buy" rating on Geely Auto (00175) due to its strong delivery volume and car pipeline in the first half of this year. It has raised its earnings forecast for the 2024 and 2025 fiscal years by 2% and 3% respectively, and raised its target price to HKD 11.7. If the company achieves its market-expected target of delivering 2 million vehicles for the entire year and has confidence in its overseas business, it will increase its sales target from 0.3 million vehicles to 0.38 million vehicles. The bank pointed out that Geely and its Lynk & Co brand's strong models are crucial for increasing sales in the second half of this year and in 2025. Gross margin is expected to improve for several consecutive quarters in the future.
Geely Plans to Introduce Zeekr EV Brand in Korea by Early 2026
Counterpoint: Pure electric car sales will surpass 10 million vehicles in 2024, and the growth of hybrid cars will exceed pure electric cars.
China remains the dominant force in the pure electric auto market, with pure electric auto sales expected to be four times that of North America by 2024.
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Express News | ZEEKR Shares Are Trading Higher After the Company on Monday Reported June Deliveries of 20,106, up 89% Year Over Year