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Geely's high-end pure electricity brand, Polar Krypton, is also considering going public. On October 31st, Geely announced on the Hong Kong Stock Exchange that it had submitted a motion to the Stock Exchange in accordance with the 15th application guidelines on the proposal to spin off ZEEKR Intelligent Technology Holding Limited (Polar Krypton) and list it independently. Geely said the Stock Exchange had confirmed that the company could carry out the proposed spin-off. The terms of the proposed spin-off (including the location of the listing, the size of the offering, the price range and the guaranteed quota for the company's shareholders to obtain polar krypton securities) have not yet been determined.

In response to this, the polar krypton side said: "We will disclose relevant information in a timely manner in accordance with relevant laws and regulations." The polar krypton management team will put business first to ensure that the delivery target of 70,000 vehicles for the whole of 2022 is met. The recent turmoil in the capital market will not shake our confidence in the new energy market, and short-term fluctuations in the market will not have an impact on the company's medium-and long-term development. "

Polar krypton brand (English name ZEEKR) was founded on April 15, 2021, is Geely's new intelligent pure electric car brand, jointly invested by Geely Automobile and Geely Holdings, with 51% and 49% shareholding respectively. According to APP, Jikrypton Automobile (Ningbo Hangzhou Bay New area) Co., Ltd. was established on September 11, 2020 with a registered capital of 500 million yuan, with an Conghui as its legal representative and Li Shufu as its chairman. A total of two financing have been obtained since its inception. On August 29th, 2021, Polar Krypton signed strategic investment agreements with five ecological partners, including Intel Capital, Ningde Times, bilibili, Hongshang Group and Boyu Investment. the five ecological partners invested a total of 500 million US dollars, accounting for about 5.6% of polar Krypton shares after investment. In December 2021, Geely announced that the acquisition of 220 million shares of extreme krypton common shares from Geely Group had been approved by the general meeting of shareholders. Upon completion of the delivery, Geely Motor will own about 58.31% of the issued share capital of Polar Krypton (on a converted basis) and about 54.47% of the expanded issued share capital of Polar Krypton. Meanwhile, Li Shufu, chairman of Geely holding Group, will increase his stake in Geely Motor by 2%.

At present, there is only one model on sale under the polar krypton brand, which is based on the vast structure of SEA. There are 4 models to choose from, and the price range is 29.90-386000 yuan. As an important brand of Geely's transition to new energy, the market performance of the first model of the polar krypton brand is highly expected. Polar Krypton 001 is scheduled to hit the sales target of 70, 000 vehicles this year, but early last month, polar krypton released a "note on the delivery of ZEEKR 001", saying that orders placed from now on are expected to start delivery in 2023 because of hot sales.

The latest figures show that 45481 ZEEKR 001s have been delivered since delivery began in October 2021. Of these, 39474 ZEEKR 001 vehicles were delivered from January to September 2022, 56.3% of the sales target has been met, and the remaining 43.7 will be completed in the next three months. In this way, ZEEKR 001 may not be able to meet its annual sales target. An Conghui, chairman of Geely Automobile Group, has previously said: Geely is full of confidence in the annual sales target of 70,000 polar krypton vehicles, and the target remains unchanged. Whether the goal can be achieved in the end remains to be verified.

According to the product launch plan, the second production model of extreme krypton, ZEEKR 009, will be launched tomorrow (November 1). The new car is based on Geely SEA vast architecture, positioning medium-sized MPV, and will compete with Tencent D9, Buick GL8, Lantu Dreamer and other models after launch.

On August 27, Ningde Times announced that Polar Krypton has become the first global mass production brand of Kirin batteries, and its polar krypton 009 and polar krypton 001 will be equipped with Kirin batteries. Among them, the polar krypton 009, the first MPV model with Kirin battery, will be the first mass production model in the world and will be launched in the first quarter of 2023, while the polar krypton 001 will become the first mass-produced model with Kirin battery with a pure electric range of more than 1000 kilometers, which will be launched in the second quarter of 2023.

In addition to the new ZEEKR 009 model, six new cars will be launched in the next three years, including SUV, cross-border cars and MPV market models. Polar Krypton plans to sell more than 650000 vehicles worldwide by 2025.

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