Chinese electric vehicle manufacturer Zeekr has confidentially filed for a US IPO
This will become the first significant listing of a Chinese company in the past two years
Geely is one of China’s leading automobile manufacturers, subsequently, Zeekr is one of Geely’s largest ventures in the premium electric vehicles market. The cat is out of the bag and it looks like this week Zeekr filed the paperwork for a US IPO.
The news comes as a shock, because if the deal were to go through, it would be the first major Chinese listing in the country in nearly two years. A lot still remains unclear, for example, the amount, or approximate price of the shares offered, as well as the date of the IPO. While these insights haven’t been officially confirmed yet, rumour has it that Zeekr aims for a $10 billion valuation, raising more than $1 billion through the IPO.
Zeekr has been attempting to put a foot in the US market. Little over a year ago, Zeekr announced a partnership with the LA-based Google’s self-driving car project, on an electric minivan-type vehicle.
Moreover, Zeekr teamed up with Mobileye, the self-driving system producer. According to company representatives, all of the technologies are being used to develop vehicles for the Chinese market, the IPO sends a strong signal of the EV producer’s ambition to spread its wings beyond the continent.
