Commoney Wise
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
  • Login
  • Register

  Breaking
Pound Sterling Price News and Forecast: GBP/USD stalls at around 1.2420 firm on solid USD, mixed sentiment June 6, 2023
Roche looking to sell or shut down California biologic drug plant June 6, 2023
High school softball player stabbed 15 times by her ex while leaving a Florida restaurant, officials say June 6, 2023
GOP hardliners revolt and derail McCarthy’s agenda in retaliation over speaker’s debt limit deal June 6, 2023
Hands on first impressions from WWDC 2023 June 6, 2023
Next
Prev

en English
en Englishes Españolde Deutschfr Françaisit Italianopt Portuguêsru Русскийzh-CN 简体中文hi हिन्दीja 日本語
Casino
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
No Result
View All Result
Commoney Wise
Casino
  • News
  • Politics
  • Business
  • Economy
  • Finance
  • Investing
  • Markets
  • Crypto
  • Tech
  • Videos
Home Business

Geely/luxury EVs: Zeekr sub-brand should find US investor appetite

Staff by Staff
December 12, 2022
in Business
0 0
A A
0

The rise of Tesla in China has inspired domestic rivals to do the same: target premium sales and move overseas. Zeekr has raised prices and may reportedly list in the US. Strong sales provide plenty of road ahead for the upmarket electric car brand of Chinese automaker Geely.

Cynics may snark that “Chinese luxury car” is a contradiction in terms, like “organised chaos”. But critics said the same of top-end Japanese vehicles before Toyota launched its Lexus sub-brand.

If Zeekr raises some $1bn in the US it would overturn widespread expectations of a Hong Kong listing. Zeekr would be the first large Chinese company to list in the US since Didi’s debut last year, which ended in an ignominious delisting.

Zeekr is a two-year-old brand with just one model on the market. It made a loss in the first half. The listing would value the business at more than $10bn. This would represent an enterprise value multiple of about 8 times forward sales, 60 per cent more than Tesla.

A strong outlook would justify the premium. Even Geely, which owns around 60 per cent of Zeekr, cannot have anticipated the huge popularity of its vehicles. Zeekr sold out all available production for this year in September. October orders for the Zeekr 001 model were up 50-fold from a year earlier. The group has support from investors such as Intel Capital.

Premium branding and higher prices work well in China. The cost of a Zeekr 001 starts at $41,000, more than the Tesla Model Y. Local sales growth for Lexus has outpaced Toyota’s other models for years. Electric cars are hotter than ever and Geely will benefit.

Zeekr should also do well in Russia. Sales of Chinese cars doubled there in November as US and European brands left the market. The business plans to launch in Europe next year, and then North America.

Zeekr does not need to make a big dent in Tesla’s sales to change perceptions about Chinese luxury cars and attract investors.

Read the full article here

ShareTweetSharePinShareSendShare
https://www.madmoneycasino.com/?faff=667&sub=DemCasino

Related Articles

Business

Ofgem to be legally obliged to push for ‘net zero’

June 6, 2023
Business

Most affordable golf towns of 2023 revealed: See if you’d like to tee off here

June 6, 2023
Business

Investor group including Kenny Alexander takes punt on 888

June 6, 2023
Business

Ford recalling 125K vehicles due to engine issues that could cause fires

June 6, 2023
Business

US-bound Air India passengers face tense wait after landing in Russia

June 6, 2023
Business

Former ByteDance exec counters TikTok CEO’s testimony, CCP has ‘backdoor’ access to user data stored in US

June 6, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Commoney Wise

Commoney Wise is your one stop news website for the latest finance, business and crypto news, follow us to get the news that matters to your minute by minute.

Our Other Brands Kronosslott, Commoneywise, Demcasino.de, SportsExtremes.tv, Slotgamesusawwr, Coin Desk Times, Kingsofgolf.be

Topics

Business Commodities Crypto Economy Finance Forex Futures Investing Markets News Politics Stocks Tech Videos

Get Informed

The most important world news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • Privacy
  • Terms
  • Press
  • Advertise
  • Contact

© 2022 Commoney Wise. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos

© 2022 Commoney Wise. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.