Where are Zeekr cars produced?
The company takes a lean production approach whereby the company aims to optimize operating efficiency and product quality. • For manufacturing of BEVs. Currently, the company's vehicles are manufactured at the ZEEKR Factory, the Chengdu Factory, and the Meishan Factory, respectively. During the vehicle manufacturing process, the company is in charge of setting manufacturing targets and plans, conducting vehicle research and development, overall supervision of procurement of raw materials and auto parts, and quality control. The company has set up specific personnel to closely supervise each of the foregoing key steps, allowing the company to retain effective oversight of key manufacturing and procurement processes. See “Our Relationship with Geely Group” for details. On the other hand, the factories are mainly in charge of (i) procuring and inspecting the raw materials based on the company's selection, (ii) manufacturing BEVs according to the pre-agreed quality standards in the applicable cooperation framework agreements, and (iii) coordinating with the company to conduct on-site quality inspection. • For manufacturing of Ningbo Viridi’s products. Ningbo Viridi’s manufacturing plant is based in Ningbo, Zhejiang, where Ningbo Viridi holds both production facilities and R&D facilities. Ningbo Viridi’s production facilities are able to offer sufficient capability for customers, such as over 300,000 output units per year for its EV flexible product lines. Meanwhile, the R&D facilities are developed pursuant to a series of high industry standards, making the facilities suitable for conducting research, testing, and development for battery, motor, and electronic control systems. The company has entered into Cooperation Framework Agreements with Geely Group for the manufacturing of the 001, 001 FR, and 009 at the Factory, the manufacturing of the X at the Chengdu Factory, and the manufacturing of the upscale sedan model at the Meishan Factory. The company's future operations and prospects depend on the successful ramping and maintaining of operations in the Factory, the Chengdu Factory, and the Meishan Factory. See “Business — Manufacturing and Quality Control.” There can be no assurance that the company's oversight on battery electric vehicle (BEV) manufacturing will always be effective, as the Factory, the Chengdu Factory, and the Meishan Factory are not owned by the company. Vehicle production at such factories may also experience delays or suspensions. For example, vehicle production at the Factory was temporarily suspended in early 2022 due to the COVID-19 pandemic, and the company also encountered a temporary suspension in production at the Factory in the first quarter of 2023 due to production line upgrades at the factory. As of the date of this prospectus, the company has not experienced any material customer complaints caused by the delays or suspensions of vehicle production at the Factory, the Chengdu Factory, and the Meishan Factory. In addition, there will be a negative impact on the company's business operation if, in the future, such original equipment manufacturer (OEM) model is limited by applicable laws and regulations, or becomes subject to more stringent regulatory oversight. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured at the ZEEKR Factory, the Chengdu Factory, and the Meishan Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on products and systems relating to batteries, motors, electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, the company delivered a total of 196,633 vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the brand. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured at the company Factory, the Chengdu Factory, and the Meishan Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and 2023. The company takes a lean production approach whereby the company aims to optimize operating efficiency and product quality. • For manufacturing of BEVs. Currently, the company's vehicles are manufactured at the company's Factory or the Chengdu Factory pursuant to the company's Factory Cooperation Framework Agreements or the Chengdu Factory Cooperation Framework Agreement, respectively. During the vehicle manufacturing process, the company is in charge of setting manufacturing targets and plans, conducting vehicle research and development, overall supervision of procurement of raw materials and auto parts, and quality control. The company has set up specific personnel to closely supervise each of the foregoing key steps, allowing the company to retain effective oversight of key manufacturing and procurement processes. See “Our Relationship with Geely Group” for details. On the other hand, the company's Factory or the Chengdu Factory is mainly in charge of (i) procuring and inspecting the raw materials based on the company's selection, (ii) manufacturing BEVs according to the pre-agreed quality standards in the applicable cooperation framework agreements, and (iii) coordinating with the company to conduct on-site quality inspection. • For manufacturing of Ningbo Viridi’s products. Ningbo Viridi’s manufacturing plant is based in Ningbo, Zhejiang, where Ningbo Viridi holds both production facilities and R&D facilities. Ningbo Viridi’s production facilities are able to offer sufficient capability for customers, such as over 300,000 output units per year for its EV flexible product lines. Meanwhile, the R&D facilities are developed pursuant to a series of high industry standards, making the facilities suitable for conducting research, testing, and development for battery, motor, and electronic control systems. The company takes a lean production approach whereby the company aims to optimize operating efficiency and product quality. • For manufacturing of BEVs. Currently, the company's vehicles are manufactured at the company Factory or the Chengdu Factory pursuant to the company Factory Cooperation Framework Agreements or the Chengdu Factory Cooperation Framework Agreement, respectively. During the vehicle manufacturing process, the company is in charge of setting manufacturing targets and plans, conducting vehicle research and development, overall supervision of procurement of raw materials and auto parts, and quality control. The company has set up specific personnel to closely supervise each of the foregoing key steps, allowing the company to retain effective oversight of key manufacturing and procurement processes. See “Our Relationship with Geely Group” for details. On the other hand, the company Factory or the Chengdu Factory is mainly in charge of (i) procuring and inspecting the raw materials based on the company's selection, (ii) manufacturing BEVs according to the pre-agreed quality standards in the applicable cooperation framework agreements, and (iii) coordinating with the company to conduct on-site quality inspection. • For manufacturing of Ningbo Viridi’s products. Ningbo Viridi’s manufacturing plant is based in Ningbo, Zhejiang, where Ningbo Viridi holds both production facilities and R&D facilities. Ningbo Viridi’s production facilities are able to offer sufficient capability for customers, such as over 300,000 output units per year for its EV flexible product lines. Meanwhile, the R&D facilities are developed pursuant to a series of high industry standards, making the facilities suitable for conducting research, testing, and development for battery, motor, and electronic control systems. At the same time, the company's BEVs are manufactured at the ZEEKR Factory or the Chengdu Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and the six months ended June 30, 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced its plan to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured at the ZEEKR Factory or the Chengdu Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and the nine months ended September 30, 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, it continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured at the ZEEKR Factory or the Chengdu Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and the six months ended June 30, 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable the company to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the company's Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA.
The company takes a lean production approach whereby the company aims to optimize operating efficiency and product quality. • For manufacturing of battery electric vehicles (BEVs). Currently, the company's vehicles are manufactured at ZEEKR Factory pursuant to the Cooperation Framework Agreement. During the vehicle manufacturing process, the company is in charge of setting manufacturing targets and plans, conducting vehicle research and development, overall supervision of procurement of raw materials and auto parts, and quality control. The company has set up specific personnel to closely supervise each of the foregoing key steps, allowing the company to retain effective oversight of key manufacturing and procurement processes. See “Our Relationship with Geely Group” for details. On the other hand, ZEEKR Factory is mainly in charge of (i) procuring and inspecting the raw materials based on the company's selection, (ii) manufacturing BEVs according to the preagreed quality standards in the Cooperation Framework Agreement, and (iii) coordinating with the company to conduct on-site quality inspection. • For manufacturing of the company's products. The company's manufacturing plant is based in Ningbo, Zhejiang, where the company holds both production facilities and R&D facilities. The company's production facilities are able to offer sufficient capability for customers, such as over 300,000 output units per year for its electric vehicle flexible product lines. Meanwhile, the R&D facilities are developed pursuant to a series of high industry standards, making the facilities suitable for conducting research, testing, and development for battery, motor, and electronic control systems. The company takes a lean production approach whereby the company aims to optimize operating efficiency and product quality. • For manufacturing of $B E V s$. Currently, the company's vehicles are manufactured at the Factory pursuant to the Cooperation Framework Agreement. During the vehicle manufacturing process, the company is in charge of setting manufacturing targets and plans, conducting vehicle research and development, overall supervision of procurement of raw materials and auto parts, and quality control. The company has set up specific personnel to closely supervise each of the foregoing key steps, allowing the company to retain effective oversight of key manufacturing and procurement processes. See “Our Relationship with Geely Group” for details. On the other hand, the Factory is mainly in charge of (i) procuring and inspecting the raw materials based on the company's selection, (ii) manufacturing BEVs according to the preagreed quality standards in the Cooperation Framework Agreement, and (iii) coordinating with the company to conduct on-site quality inspection. • For manufacturing of the company's products. The company's manufacturing plant is based in Ningbo, Zhejiang, where the company holds both production facilities and R&D facilities. The company's production facilities are able to offer sufficient capability for customers, such as over 300,000 output units per year for the company's electric vehicle flexible product lines. Meanwhile, the research and development facilities are developed pursuant to a series of high industry standards, making the facilities suitable for conducting research, testing, and development for batteries, motors, and electronic control systems. The company is a fast-growing battery electric vehicle (BEV) technology company developing and offering next-generation premium BEVs and technology-driven solutions to lead the electrification, intelligentization, and innovation of the automobile industry. The company is an independently-run startup-style company led by key management with diversified backgrounds. Since inception, the company has been dedicated to serving its customers by leveraging top-notch technology, advanced product concepts, and an enriched entrepreneurial spirit that embraces creativity and innovation. The company is strategically positioned as a premium BEV brand that delivers an ultimate experience covering driving, charging, after-sale service, and customer community engagement. The company’s product family meets a wide spectrum of customer needs in different mobility and travel scenarios and is highly customized with a wide selection of vehicle configurations. Within less than two years since the company’s inception, the company has launched two commercialized electric vehicle models, Model A and Model B. Model A is a five-seater crossover shooting brake BEV model targeting the premium market and mainly addressing the customer need for practical yet stylish traveling. Model B is a luxury six-seater MPV addressing the customer need for luxury mobility. The company's products have been well received by the market, as the company has achieved a total delivery of 10,000 units of Model A in less than four months since its initial delivery on October 23, 2021, which, according to Frost & Sullivan, sets a new record among the major mid- to high-end NEV models and premium BEV models in China. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pick-up truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow it to continue to utilize SEA, which is currently the most suitable platform for the company. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip its model with CATL’s latest Qilin battery, making it the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, its extended range version is the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market by the end of February 2024, according to Frost & Sullivan. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR X, and an upscale sedan model. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001, or ZEEKR 001 (2024 model). The company started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, its cross-over hatchback vehicle model based on ZEEKR 001. Featuring unique exterior and interior design and proprietary technologies, ZEEKR 001 FR is designed to offer outstanding vehicle performance with various driving modes. The company started to deliver ZEEKR 001 FR in November 2023. • ZEEKR 009. In November 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. ZEEKR 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. ZEEKR 009 has enjoyed wide popularity since launch, and the company started to deliver ZEEKR 009 to its customers in January 2023. In April 2024, the company launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released ZEEKR MIX, its MPV model, in the same month. • ZEEKR X. In April 2023, the company released ZEEKR X, its compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver ZEEKR X in June 2023. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension. structure, the company's upscale sedan model is expected to achieve a $2.84 ~ 0.100 km/h acceleration and a 688 km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 2024. The company's current and future BEV models will define the company's success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for the next generation of mobility lifestyle. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs, utilizing world-leading players such as Mobileye, and has also announced its plan to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation intelligent BEV. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, it assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented direct-to-consumer (DTC) sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 24 company Centers, 240 company Spaces, 31 company Delivery Centers, and 45 company Houses in China, and two company Centers overseas as of December 31, 2023. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent battery electric vehicles (BEVs). Within the company APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of company lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant company user community. The company's customer engagement efforts enable the company to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by its strong in-house R&D capabilities, high operational flexibility, and flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, its cross-over hatchback vehicle model based on ZEEKR 001. Featuring unique exterior and interior design and the company's proprietary technologies, ZEEKR 001 FR is designed to offer outstanding vehicle performance with various driving modes. The company started to deliver ZEEKR 001 FR in November 2023. • ZEEKR 009. In November 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. ZEEKR 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. ZEEKR 009 has enjoyed wide popularity since launch, and the company started to deliver ZEEKR 009 to its customers in January 2023. In April 2024, the company launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released ZEEKR MIX, its MPV model, in the same month. • ZEEKR X. In April 2023, the company released ZEEKR X, its compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver ZEEKR X in June 2023. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension structure, the company's upscale sedan model is expected to achieve a 2.84 s 0-100 km/h acceleration and a 688 km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 2024. As a testament to the popularity of the company's current vehicle models and the company's capabilities, the company has achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end new energy vehicle models. premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the ZEEKR brand. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be approximately five times to 13.7 million units in 2028 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience an even faster growth, almost increasing to more than seven times the volume in 2021 by 2028, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 5.3 million units in sales volume in 2028, representing a CAGR of 18.6% from 2024 to 2028, according to Frost & Sullivan. The company has started to deliver its vehicle models in Europe in December 2023. In the future, the company also plans to tap into the robotaxi market in the United States. In July 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. from Geely Holding. In July 2021, company Automobile (Shanghai) Co., Ltd. was incorporated in the PRC, and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Automobile (Shanghai) Co., Ltd. acquired 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in CEVT from Geely Holding. company Automobile (Shanghai) Co., Ltd. currently holds 100% equity interest in CEVT through Zhejiang company. In November 2022, company Automobile (Shanghai) Co., Ltd. launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Automobile (Shanghai) Co., Ltd. released the company X, its compact SUV model, and began to deliver the company X in June 2023. As of June 30, 2023, cumulatively company Automobile (Shanghai) Co., Ltd. had delivered a total of 120,581 units of company vehicles, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to June 2023, according to Frost & Sullivan. The company is strategically focused on the design, engineering, development, and sales of premium battery electric vehicles (BEVs) featuring cutting-edge technology, drivability, and user experience. The company leverages extensive research and development (R&D) capabilities, deep industry know-how, and synergies with Geely Group to tap into China’s massive, fast-growing premium BEV segment with great market potential. According to Frost & Sullivan, the sales volume of premium BEVs in China is expected to increase from 666.4 thousand units in 2024 to 2,607.6 thousand units in 2028 at a compound annual growth rate (CAGR) of 40.6%. For details of the growth trend of premium BEV sales in China, see “Industry Overview — China NEV and BEV Market Overview.” In 2021, the company released and started to deliver ZEEKR 001, its first mass-produced premium battery electric vehicle (BEV) model. The company released an upgraded version of ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched its second vehicle model, ZEEKR 009, and started delivery in January 2023. In April 2023, the company released ZEEKR X, its compact SUV model, and began to deliver ZEEKR X in June 2023. The company also started to deliver ZEEKR 001 FR in November 2023. In January 2024, the company started to deliver its first upscale sedan model. Going forward, the company plans to offer an expanded product portfolio to meet varied customer demands and preferences. For instance, the company plans to launch vehicles for next generation mobility lifestyle. The company is a market player with a China focus and global aspirations. Currently, the company mainly markets and sells its products in China, the largest BEV market globally in 2023, according to Frost & Sullivan. The company has started to deliver ZEEKR 001 in Europe in December 2023. In the future, the company also plans to supply vehicles for the Waymo One Fleet in the United States. For details of the company's plan to increase its global footprint, see “— Our Growth Strategies.” As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. [Table Level]
- Table Title: Vehicle Delivery Volumes
- Table Summary: The table lists the monthly delivery volumes of vehicles over a span of two years—2023 and the beginning of 2024. It highlights the progression of delivery volumes, giving insights into the company's growth in vehicle distribution.
- Context: The company is focused on expanding its global footprint, with significant deliveries in China, the largest BEV market. The company has started delivering vehicles in Europe and plans further expansion in the United States.
- Special Notes: Delivery volumes are presented in units. 2024 figures show data only until March.

[Row Level]
Row 1: In March 2024, the company delivered 13,012 units of its vehicles.
Row 2: February 2024 saw a delivery volume of 7,510 units.
Row 3: January 2024 registered a delivery of 12,537 units.
Row 4: During December 2023, the company achieved its highest delivery volume for that year with 13,476 units.
Row 5: November 2023 experienced a delivery volume of 13,104 units.
Row 6: In October 2023, the company's delivery volume was 13,077 units, coinciding with a notable milestone of delivering over 10,000 units in a month.
Row 7: September 2023 had a delivery volume of 12,053 units.
Row 8: August 2023 deliveries amounted to 12,303 units.
Row 9: In July 2023, the company delivered 12,039 units.
Row 10: June 2023 recorded deliveries totaling 10,620 units.
Row 11: For May 2023, the company's delivery volume was 8,678 units.
Row 12: April 2023 saw deliveries of 8,101 units.
Row 13: March 2023 had a delivery volume of 6,663 units.
Row 14: February 2023 recorded deliveries of 5,455 units.
Row 15: The delivery volume in January 2023 was 3,116 units. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) Zeekr Technology Europe AB (“CEVT”). Under the leadership of our co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR Intelligent Technology was incorporated as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as the company's holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. In July 2021, company Shanghai was incorporated in the People's Republic of China and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Innovation acquired a 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Innovation acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Innovation acquired a 100% equity interest in CEVT from Geely Holding. company Innovation currently holds a 100% equity interest in CEVT through Zhejiang company. In November 2022, company Innovation launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Innovation released the company X, its compact SUV model, and began to deliver the company X in June 2023. In October 2023, company Innovation released the company 001 FR, and company Innovation started to deliver the company 001 FR in November 2023. In January 2024, company Innovation started to deliver its first upscale sedan model targeting tech-savvy adults and families. In February 2024, company Innovation released an upgraded model of the company 001, or company 001 (2024 model), and started vehicle delivery in March 2024. In April 2024, company Innovation launched the company 009 Grand, a luxury version of the company 009 featuring enhanced safety, privacy, and intelligence. In April 2024, company Innovation released the company MIX, its MPV model. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) China-Euro Vehicle Technology Aktiebolag (“CEVT”). Under the leadership of co-founders Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR Intelligent Technology was incorporated as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as the company's holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. In July 2021, company Shanghai was incorporated in the PRC, and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Shanghai acquired a 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Shanghai acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Shanghai acquired a 100% equity interest in CEVT from Geely Holding. company Shanghai currently holds a 100% equity interest in CEVT through Zhejiang company. In November 2022, company Shanghai launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Shanghai released the company X, its compact SUV model, and began to deliver the company X in June 2023. As of October 31, 2023, cumulatively company Shanghai had delivered a total of 170,053 units of company vehicles, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to October 2023, according to Frost & Sullivan. In October 2023, company Shanghai released the company 001 FR, and company Shanghai started to deliver the company 001 FR in November 2023. In November 2023, company Shanghai released its first upscale sedan model targeting tech-savvy adults and families. Featuring unique exterior and interior design and proprietary technologies, company 001 FR is designed to offer outstanding vehicle performance with various driving modes. The company started to deliver company 001 FR in November 2023. • company 009. In November 2022, the company launched its second model, company 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. company 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. company 009 has enjoyed wide popularity since launch, and the company started to deliver company 009 to its customers in January 2023. • company X. In April 2023, the company released company X, its compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver company X in June 2023. In November 2023, the company also launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and a multi-link suspension structure, the company's upscale sedan model is expected to achieve a 2.84 seconds 0-100 km/h acceleration and an 870 km maximum CLTC range. The company expects to begin the delivery of its first upscale sedan model in early 2024. The company's current and future BEV models will define its success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for the next generation. mobility lifestyle. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip ZEEKR 009 with CATL’s latest Qilin battery, making ZEEKR 009 the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, ZEEKR 009’s extended range version is the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market by the end of October 2023, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the ZEEKR brand. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, and ZEEKR X. ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over 1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In October 2023, the company released ZEEKR 001 FR, its latest cross-over hatchback vehicle model based on ZEEKR 001. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of its model in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of its model to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of October 31, 2023, cumulatively the company had delivered a total of 170,053 units of its vehicles, which is among the fastest delivery in the premium BEV market in China from October 2021 to October 2023, according to Frost & Sullivan. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow it to continue to utilize SEA, which is currently the most suitable platform for the company. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 18 Centers, 219 Spaces, 29 Delivery Centers, and 40 Houses as of June 30, 2023. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. Within the company's APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant user community. The company's customer engagement efforts enable it to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, it is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of June 30, 2023, there were 746 charging stations with different charging capabilities, including 321 ultra charging stations, 308 super charging stations, and 117 light charging stations, covering over 120 cities in China, further supported by third-party charging stations that cover over 340 cities in China with over 520 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for its business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of its strategic investors, for consumer-ready autonomous driving solutions. The company is working with Waymo, a leader in L4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The vehicles are purpose-built TaaS vehicles based on SEA-M, which is an advanced version of SEA and a high-tech mobility solution that supports a range of future mobility products including robotaxis and logistics vehicles. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. In addition, the company has a relationship with Onsemi, a leader in intelligent power and sensor technologies. The company will be provided with Onsemi’s EliteSiC, its silicon carbide power devices, to enhance the performance, charging efficiency, and driving range for the company's BEV products. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be more than five times to 14.0 million units in 2027 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to over six times the volume in 2021 by 2027, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 4.9 million units in sales volume in 2027, representing a CAGR of 23.8% from 2023 to 2027, according to Frost & Sullivan. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. In December 2023, the company started to deliver its BEV model in Europe. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,696.2 million) in 2021 and 2022, and RMB10,820.2 million and RMB23,319.1 million (US$3,196.2 million) in the nine months ended September 30, 2022 and 2023, respectively, with a gross profit margin of $1.8\%$, $4.7\%$, $4.6\%$ and $14.8\%$, respectively. In addition to vehicle sales, the company generated revenues from research and development services, other services, and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,372.2 million) in 2021 and 2022, and RMB18,467.5 million and RMB35,314.7 million (US$4,840.3 million) in the nine months ended September 30, 2022 and 2023, respectively, with a gross profit margin of $15.9\%$, $7.7\%$, $8.4\%$ and $12.8\%$, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,049.2 million) in 2021 and 2022, and RMB5,317.2 million and RMB5,326.3 million (US$730.0 million) in the nine months ended September 30, 2022 and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. In November 2023, the company also launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800 V architecture and a multi-link suspension structure, the company's upscale sedan model is expected to achieve a 2.84 s 0 to 100 km/h acceleration and an 870 km maximum CLTC range. The company expects to begin the delivery of its first upscale sedan model in early 2024. The company's current and future BEV models will define its success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for next-generation mobility lifestyles. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current vehicle models and its capabilities, the company has achieved a total delivery of 10,000 units of the ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of the ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of October 31, 2023, The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes MODEL 001, MODEL 001 FR, MODEL 009, MODEL X, and an upscale sedan model. MODEL 001. With an unwavering commitment to its mission, the company released MODEL 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, MODEL 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. MODEL 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of MODEL 001 in October 2021. In February 2024, the company released an upgraded model of MODEL 001, or MODEL 001 (2024 model). The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of December 31, 2023, there were 882 company charging stations with different charging capabilities, including 436 ultra charging stations, 330 super charging stations, and 116 light charging stations, covering over 130 cities in China, further supported by over 54 thousand third-party charging stations that cover over 340 cities in China with approximately 610 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for the company's business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of the company's strategic investors, for consumer-ready autonomous driving solutions. The company is working with Waymo, a leader in L4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The vehicles are purpose-built TaaS vehicles based on SEA-M, which is an advanced version of SEA and a high-tech mobility solution that supports a range of future mobility products including robotaxis and logistics vehicles. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. In addition, the company has a relationship with Onsemi, a leader in intelligent power and sensor technologies. The company started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, a cross-over hatchback vehicle model based on ZEEKR 001. Featuring unique exterior and interior design and proprietary technologies, ZEEKR 001 FR is designed to offer outstanding vehicle performance with various driving modes. The company started to deliver ZEEKR 001 FR in November 2023. • ZEEKR 009. In November 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. ZEEKR 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. ZEEKR 009 has enjoyed wide popularity since launch, and the company started to deliver ZEEKR 009 to its customers in January 2023. In April 2024, the company launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released ZEEKR MIX, its MPV model, in the same month. • ZEEKR X. In April 2023, the company released ZEEKR X, a compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver ZEEKR X in June 2023. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension. Structure, the company's upscale sedan model is expected to achieve a $2.84 \mathrm{s} ~ 0{ \cdot }100 \mathrm{km/h}$ acceleration and a 688km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 2024. The company's current and future BEV models will define the company's success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for the next generation mobility lifestyle. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs, utilizing world-leading players such as Mobileye, and has also announced plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, it assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. The company began the delivery of its first upscale sedan model in January 2024. As a testament to the popularity of the company's current vehicle models and its capabilities, the company has achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end new energy vehicle models. premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the ZEEKR brand. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio includes ZEEKR 001 and ZEEKR 009. The company's current and future BEV models will define the company's success. ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 on April 15, 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 on October 23, 2021. • ZEEKR 009. On November 1, 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. The company 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. The company 009 has enjoyed wide popularity since launch, and the company started to deliver the company 009 to its customers in January 2023. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch SUV and sedan models targeting tech-savvy adults and families in the future. The company and Waymo are collaborating on the development of a purpose-built TaaS vehicle built on SEA-M, which will be deployed in the United States over the coming years. SEA-M is an advanced version of SEA that is a high-tech mobility solution to support a range of future mobility products including robotaxis and logistics vehicles, laying a solid and flexible foundation for global autonomous driving technology or ride-sharing companies to develop. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of the company 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, sets a new record among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. The company has delivered a cumulative 86,519 units of ZEEKR vehicles as of February 28, 2023, and achieved among the fastest delivery in the premium BEV market in China from October 2021 to December 2022, according to Frost & Sullivan. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow it to continue to utilize SEA, which is currently the most suitable platform for the company. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of SEA. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of the model is expected to be the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the brand. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured in a factory owned and operated by Geely Holding, and Geely Holding was the company's largest supplier for 2022. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable the company to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the company's Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 15 centers, 195 spaces, 26 delivery centers, and 24 houses as of December 31, 2022. In addition, the company closely interacts with customers through building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. Within the app, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant user community. The company's customer engagement efforts enable it to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of December 31, 2022, there were 607 charging stations with different charging capabilities, including 200 ultra charging stations, 292 super charging stations, and 115 light charging stations, covering 113 cities in China, further supported by third-party charging stations that cover 336 cities in China with approximately 380 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for the company's business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of the company's strategic investors, for consumer-ready autonomous driving solutions. The company and Waymo are collaborating on the development of a purpose-built TaaS vehicle built on the SEA-M platform which will be deployed in the United States over the coming years. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be more than quadrupled to 11.3 million units in 2026 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to five times the volume in 2021 by 2026, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 4.4 million units in sales volume in 2026, representing a CAGR of 29.4% from 2022 to 2026, according to Frost & Sullivan. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. The company started to deliver its first model in October 2021. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company's total revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, respectively. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow the company to continue to utilize SEA, which is currently the most suitable platform for the company. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant advantages. competitive advantages in the market. The SEA platform also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip the ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of the SEA platform. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of the ZEEKR 009 is expected to be the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market, according to Frost & Sullivan. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented direct-to-consumer (DTC) sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 15 ZEEKR Centers, 195 ZEEKR Spaces, 26 ZEEKR Delivery Centers, and 24 ZEEKR Houses as of December 31, 2022. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent battery electric vehicles (BEVs). Within the company APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of company lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant company user community. The company's customer engagement efforts enable the company to better understand customer needs to be incorporated into future product design, and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, respectively. The company started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, its cross-over hatchback vehicle model based on ZEEKR 001. Featuring unique exterior and interior design and the company's proprietary technologies, ZEEKR 001 FR is designed to offer outstanding vehicle performance with various driving modes. The company started to deliver ZEEKR 001 FR in November 2023. • ZEEKR 009. In November 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. ZEEKR 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. ZEEKR 009 has enjoyed wide popularity since launch, and the company started to deliver ZEEKR 009 to its customers in January 2023. • ZEEKR X. In April 2023, the company released ZEEKR X, its compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver ZEEKR X in June 2023. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension structure, the company's upscale sedan model is expected to achieve a $2.84 s ~ 0.100 km/h acceleration and a $688 km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 2024. The company's current and future BEV models will define its success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for the next generation of mobility lifestyles. Through these future models, the company intends to provide premium mobility solutions characterized by innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced its plan to integrate. The company plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation intelligent BEV. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. The company will be provided with Onsemi’s EliteSiC, its silicon carbide power devices, to enhance the performance, charging efficiency, and driving range for the company's BEV products. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be approximately five times greater, reaching 13.7 million units in 2028 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to over seven times the volume in 2021 by 2028, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 5.3 million units in sales volume in 2028. representing a CAGR of 18.6% from 2024 to 2028, according to Frost & Sullivan. In the future, the company also plans to tap into the robotaxi market in the United States. In December 2023, the company started to deliver the ZEEKR 001 in Europe. The company's revenue from vehicle sales amounted to RMB1,544.3 million, RMB19,671.2 million, and RMB33,911.8 million (US$4,776.4 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 1.8%, 4.7%, and 15.0%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, other services, and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. As a testament to the popularity of the company's current vehicle models and its capabilities, the company has achieved a total delivery of 10,000 units of the ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of the ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable the company to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the company's Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced its plan to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the company's next generation intelligent BEV. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be approximately five times to 13.7 million units in 2028 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to more than seven times the volume in 2021 by 2028, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 5.3 million units in sales volume in 2028, representing a CAGR of 18.6% from 2024 to 2028, according to Frost & Sullivan. The company has started to deliver the ZEEKR 001 in Europe in December 2023. In the future, the company also plans to tap into the robotaxi market in the United States. The company is a fast-growing battery electric vehicle (BEV) technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and the application of new technologies. The company's efforts are backed by strong in-house research and development (R&D) capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. The company strategically spearheaded the premium intelligent battery electric vehicle (BEV) market with unique positioning, featuring a strong sense of technology, in-house research and development (R&D) capabilities, stylish design, high-caliber performance, and a premium user experience. The company's product portfolio currently includes ZEEKR 001 and ZEEKR 009. ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 on April 15, 2021, a five-seater, crossover hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 on October 23, 2021. • ZEEKR 009. On November 1, 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. The company 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. The company 009 has enjoyed wide popularity since launch, and the company expects to start the delivery of the company 009 to the market in the first quarter of 2023. Going forward, the company plans to capture the extensive potential of the premium battery electric vehicle (BEV) market globally through an expanding portfolio of vehicles. For instance, the company plans to launch SUV and sedan models targeting tech-savvy adults and families in the future. The company and Waymo are collaborating on the development of a purpose-built Transportation as a Service (TaaS) vehicle built on the Sustainable Experience Architecture-Mobility (SEA-M), which will be deployed in the United States over the coming years. SEA-M is an advanced version of SEA that is a high-tech mobility solution to support a range of future mobility products including robotaxis and logistics vehicles, laying a solid and flexible foundation for global autonomous driving technology or ride-sharing companies to develop. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's products and the company's capabilities, the company has achieved a total delivery of 10,000 units of ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, sets a new record among the major mid- to high-end new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. The company has delivered a cumulative 66,611 units of ZEEKR 001 as of November 30, 2022, which is among the fastest deliveries in the premium BEV market in China from October 2021 to November 2022, according to Frost & Sullivan. The development of the company's battery electric vehicle (BEV) models is powered by the Sustainable Experience Architecture (SEA), a set of open-source, electric and modularized platforms compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The widely compatible SEA enables robust research and development (R&D) capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip its model with CATL’s latest Qilin battery thanks to the structural flexibility of SEA. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of its model is expected to be the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the company's brand. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's industry-leading in-house design, engineering, and research and development (R&D) enable the company to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, the company continuously updates its battery electric vehicle (BEV) functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced plans to integrate NVIDIA’s DRIVE Thor on its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented direct-to-consumer (DTC) sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including seven company Centers, 171 company Spaces, 22 company Delivery Centers, and one company House as of September 30, 2022. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent battery electric vehicles (BEVs). Within the company APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of company lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant company user community. The company's customer engagement efforts enable the company to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of September 30, 2022, there are 512 company charging stations with different charging capabilities, including 149 ultra charging stations, 249 super charging stations, and 114 light charging stations, covering 102 cities in China, further supported by third-party charging stations that cover 335 cities in China with approximately 350 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for the company's business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of the company's strategic investors, for consumer-ready autonomous driving solutions. The company and Waymo are collaborating on the development of a purpose-built TaaS vehicle built on the SEA-M platform which will be deployed in the United States over the coming years. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s battery electric vehicle (BEV) market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be more than quadrupled to 11.3 million units in 2026 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to five times the volume in 2021 by 2026, according to Frost & Sullivan. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. The European BEV market has significant size and growth potential, which is expected to reach 4.4 million units in sales volume in 2026, representing a compound annual growth rate (CAGR) of 29.4% from 2022 to 2026, according to Frost & Sullivan. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB10,820.2 million (US$1,521.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 1.8% and 4.6%, respectively. In addition to vehicle sales, the company generated revenues from BEV-related research and development and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB18,467.5 million (US$2,596.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 15.9% and 8.4%, respectively. The company is a fast-growing battery electric vehicle (BEV) technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house research and development capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. As a testament to the popularity of the company's products and capabilities, the company has achieved a total delivery of 10,000 units of the Model X in less than four months after the initial delivery, which, according to Frost & Sullivan, sets a new record among the major mid- to high-end new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of the Model X to the market, making it the first pure electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. The company has delivered a cumulative 66,611 units of the Model X as of November 30, 2022, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to November 2022, according to Frost & Sullivan. The company's total revenue from vehicle sales amounted to RMB1,544.3 million and RMB10,820.2 million (US$1,521.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 1.8% and 4.6%, respectively. In addition to vehicle sales, the company generated revenues from BEV-related research and development and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB18,467.5 million (US$2,596.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 15.9% and 8.4%, respectively. The development of the company's battery electric vehicle (BEV) models is powered by SEA, a set of open-source, electric and modularized platforms compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The widely compatible SEA enables robust research and development capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip the ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of SEA. Together with the company's proprietary advanced battery solutions and highly efficient... electric drive system, the ZEEKR 009’s extended range version is expected to be the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market, according to Frost & Sullivan. Pursuant to the Product Quality Law of the People's Republic of China promulgated on February 22, 1993, and last amended on December 29, 2018, the market supervision and administration department under the State Council is in charge of the national supervision of product quality. A manufacturer is prohibited from producing or selling products that do not meet applicable standards and requirements for safeguarding human health and ensuring human and property safety. Products must be free from unreasonable dangers threatening human and property safety. Where a defective product causes physical injury to a person or property damage, the aggrieved party may make a claim for compensation from the producer or the seller of the product. Producers and sellers of non-compliant products may be ordered to cease the production or sale of the products and could be subject to confiscation of the products and/or fines. Earnings from sales in contravention of such standards or requirements may also be confiscated, and in severe cases, an offender’s business license may be revoked. Pursuant to the Product Quality Law of the People's Republic of China promulgated on February 22, 1993, and latest amended on December 29, 2018, the market supervision and administration department under the State Council is in charge of the national supervision of product quality. A manufacturer is prohibited from producing or selling products that do not meet applicable standards and requirements for safeguarding human health and ensuring human and property safety. Products must be free from unreasonable dangers threatening human and property safety. Where a defective product causes physical injury to a person or property damage, the aggrieved party may make a claim for compensation from the producer or the seller of the product. Producers and sellers of non-compliant products may be ordered to cease the production or sale of the products and could be subject to confiscation of the products and/or fines. Earnings from sales in contravention of such standards or requirements may also be confiscated, and in severe cases, an offender’s business license may be revoked. Operating leases of the company mainly include leases of self-operated car stores. The components of lease expenses were as follows: Customers try out the company's products and technologies, as well as participate in a wide range of events in the company's Space, which usually occupies 100 square meters to 300 square meters in commercial areas. As of December 31, 2023, the company had 240 Spaces in China. Among those, the company has launched 42 Pop-Up Spaces in China, which have more flexible leasing terms than the usual Space and help the company connect with an expanded customer base. • Delivery Center. The company uses Delivery Centers for product delivery. As of December 31, 2023, the company had 31 Delivery Centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • House. The company launches additional Houses in areas where car dealer shops are located across different tiers of cities in China, which allows the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of sister brands in Geely Group, the company plans to develop Houses cost-effectively and rapidly, with the company's brand and design, and the company's own staff in charge of the House’s daily operation. As of December 31, 2023, the company had 45 Houses in China. Customers try out the company's products and technologies, as well as participate in a wide range of events in the company's Space, which usually occupies 100 square meters to 300 square meters in commercial areas. As of December 31, 2023, the company had 240 Spaces in China. Among those, the company has launched 42 Pop-Up Spaces in China, which have more flexible leasing terms than the usual Space and help the company connect with an expanded customer base. • Delivery Center. The company uses Delivery Centers for product delivery. As of December 31, 2023, the company had 31 Delivery Centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • House. The company launches additional Houses in areas where car dealer shops are located across different tiers of cities in China, which allow the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of sister brands in Geely Group, the company plans to develop Houses cost-effectively and rapidly, with the company's brand and design, and the company's own staff in charge of House’s daily operation. As of December 31, 2023, the company had 45 Houses in China. Customers try out the company's products and technologies, as well as participate in a wide range of events in the company's Space, which usually occupies 100 square meters to 300 square meters in commercial areas. As of December 31, 2023, the company had 240 Spaces in China. Among those, the company has launched 42 Pop-Up Spaces in China, which have more flexible leasing terms than the usual Space and help the company connect with an expanded customer base. • Delivery Center. The company uses Delivery Centers for product delivery. As of December 31, 2023, the company had 31 Delivery Centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • House. The company launches additional Houses in areas where car dealer shops are located across different tiers of cities in China, which allow the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of the company's sister brands in Geely Group, the company plans to develop Houses cost-effectively and rapidly, with the company's brand and design, and the company's own staff to be in charge of the House’s daily operation. As of December 31, 2023, the company had 45 Houses in China. Customers try out the company's products and technologies, as well as participate in a wide range of events in the company's Space, which usually occupies 100 square meters to 300 square meters in commercial areas. As of December 31, 2023, the company had 240 Spaces in China. Among those, the company has launched 42 Pop-Up Spaces in China, which have more flexible leasing terms than the usual Space and help the company connect with an expanded customer base. • The company's Delivery Center. The company uses Delivery Centers for product delivery. As of December 31, 2023, the company had 31 Delivery Centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • The company's House. The company launches additional Houses in areas where car dealer shops are located across different tiers of cities in China, which allows the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of the company's sister brands in Geely Group, the company plans to develop Houses cost-effectively and rapidly, with the company's brand and design, and the company's own staff in charge of the House’s daily operation. As of December 31, 2023, the company had 45 Houses in China. Customers try out the company's products and technologies, as well as a wide range of events in the company's Space, which usually occupies 100 square meters to 300 square meters in commercial areas. As of September 30, 2022, the company has 171 Spaces in China. Among those, the company has launched 29 Pop-Up Spaces in China, which have more flexible leasing terms than the usual Space and help the company connect with an expanded customer base. • Delivery Center. The company uses Delivery Centers for product delivery. As of September 30, 2022, the company has 22 Delivery Centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • House. The company launches additional Houses in areas where car dealer shops are located across different tiers of cities in China, which allows the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of the company's sister brands in Geely Group, the company plans to develop Houses cost-effectively and rapidly, with the company's brand and design, and the company's own staff to be in charge of House’s daily operation. As of September 30, 2022, the company has one House in China. Through the App, prospective customers can place orders by (i) for 001, paying a nonrefundable deposit of RMB5,000, and (ii) for 009, paying a refundable deposit of RMB5,000 or a non-refundable order deposit of RMB10,000. Customers try out the company's products and technologies, as well as a wide range of events in the company's spaces, which usually occupy 100 square meters to 300 square meters in commercial areas. As of December 31, 2022, the company had 195 such spaces in China. Among those, the company has launched 32 Pop-Up spaces in China, which have more flexible leasing terms than the usual spaces and help the company connect with an expanded customer base. • Delivery Centers. The company uses delivery centers for product delivery. As of December 31, 2022, the company had 26 delivery centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • Additional Spaces. The company launches additional spaces in areas where car dealer shops are located across different tiers of cities in China, which allow the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of the company's sister brands in the parent group, the company plans to develop these spaces cost-effectively and rapidly, with the company's brand and design, and the company's own staff in charge of the daily operation. As of December 31, 2022, the company had 24 such spaces in China. Through the company's app, prospective customers can place orders by (i) for Model A, paying a nonrefundable deposit of RMB5,000, and (ii) for Model B, paying a refundable deposit of RMB5,000 or a non-refundable order deposit of RMB10,000. The company's customers try out the company's products and technologies, as well as a wide range of events in company Space, which usually occupies 100 square meters to 300 square meters in commercial areas. As of September 30, 2022, the company has 171 company Spaces in China. Among those, the company has launched 29 Pop-Up company Spaces in China, which have more flexible leasing terms than the usual company Space and help the company connect with an expanded customer base. • company Delivery Center. The company uses company Delivery Centers for product delivery. As of September 30, 2022, the company has 22 company Delivery Centers in China, most of which are located at facilities with large areas outside urban commercial centers to allow for vehicle storage and simultaneous delivery. • company House. The company launches additional company Houses in areas where car dealer shops are located across different tiers of cities in China, which allows the company to utilize the cluster effect and provide customers with a superior one-stop experience. Leveraging the service network of the company's sister brands in Geely Group, the company plans to develop company Houses cost-effectively and rapidly, with the company's own brand and design, and the company's own staff to be in charge of company House’s daily operation. As of September 30, 2022, the company has one company House in China. Through the company App, prospective customers can place orders by (i) for company 001, paying a nonrefundable deposit of RMB5,000, and (ii) for company 009, paying a refundable deposit of RMB5,000 or a non-refundable order deposit of RMB10,000.