Geely’s Electric Car Brand Zeekr Reportedly Filed For US IPO

Zeekr, a premium electric car brand owned by China’s Geely, announced Tuesday that it has filed for a U.S. initial public offering. If approved, it will be the country’s first significant Chinese listing in nearly two years, following China’s effective embargo on foreign IPOs.

Zeekr filed with regulators last week but did not reveal any details, such as the number of shares to be offered, the price range, or the listing date. According to Reuters, Zeekr, which will be spun off from Geely, plans to raise more than $1 billion in its initial public offering and seek a valuation of more than $10 billion, citing persons with direct knowledge of the situation.

The filing comes just a few weeks after Zeekr staged a joint event in Los Angeles with Alphabet Inc’s (NASDAQ: GOOGL) self-driving platform Waymo to showcase its Autonomous Mobility Platform, an electric minivan-type vehicle created with Waymo’s AV stack for future robotaxi and logistics operations. A year ago, Waymo and Zeekr announced their collaboration to co-develop a purpose-built AV.

READ: Waymo Partners With Geely’s Zeekr For Electric Ride-Hailing Autonomous Fleet

The electric vehicle maker notes Tesla and Chinese counterpart Nio as competition, and is presently marketing the 001 crossover, its flagship and only model, for release in Europe next year.

Zeekr’s filing comes just a few months after Washington and Beijing reached an agreement that reduces the likelihood of delisting for more than 200 Chinese firms listed on New York exchanges by allowing American officials to review audit documents of Chinese companies that trade in the United States.

READ: Small-Cap IPOs That Are Pump-And-Dumps Are On The Rise, Thanks To Chinese Firms

Founded in 2021, Zeekr introduced its first model in April and started its deliveries in October.


Information for this briefing was found via Techcrunch and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Edtech Firm PowerSchool Prices Its US$711 Million IPO

Software firm for K-12 education PowerSchool Holdings, Inc., (NYSE: PWSC) began trading on the New...

Thursday, July 29, 2021, 10:12:00 AM

Biotech Firm HilleVax Prices US$200 Million IPO

Biopharmaceutical company HilleVax, Inc. (Nasdaq: HLVX) began trading on the Nasdaq Global Select Market on...

Monday, May 2, 2022, 02:25:00 PM

SEMRush: Analyzing Data To Extract Consumer Insights – The Daily Dive

Starting off this week on the Daily Dive is that of Eugene Levin, chief strategy...

Monday, May 10, 2021, 01:30:00 PM

Jeb Bush-Chaired Healthcare SPAC Jackson Acquisition Prices US$200 Million IPO

Special purpose acquisition company Jackson Acquisition Company (NYSE: RJAC.U) went public today on the New...

Thursday, December 9, 2021, 02:17:00 PM

Oncology Firm TransCode Therapeutics Looks To Raise US$25 Million In IPO

Oncology company TransCode Therapeutics, Inc. is set to begin publicly trading its equityon the Nasdaq...

Friday, July 9, 2021, 09:53:00 AM