Zeekr seeks over $1 billion via IPO in the USA

Zeekr has confidentially filed for a US public offering to raise over $1 billion in capital, according to inside sources. Zeekr lodged its filings with US regulators last week and is planning to go public in New York as early as the second quarter of 2023.

The news comes after NEV sales in China reached record levels in November, when Zeekr also launched their new autonomous SEA-M platform.  Zeekr has generally been ramping up business hard this year, with the unveiling of their second vehicle model, an electric van named 009, as well as a successful production ramp-up of their debut model, the 001. On the subject of the 001, the battery-electric car managed to snag two Guinness World Records this year, in the fastest electric vehicle drift, as well as the fastest EV slalom record.

Zeekr’s parent company Geely is also looking to further specialize in the electric vehicle business, with the aim for 50 per cent of vehicle sales to be electric by next year. Earlier this year, Zeekr also announced plans to enter European markets, also to kick off in early 2023.

These business plans will likely not come cheap, so an IPO in the USA would bring in the required capital. Zeekr reportedly also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation.

A Zeekr IPO would be the first major US float of a Chinese firm since Beijing tightened its grip on overseas share sales in July last year. Reuters’ sources declined to be identified as the information had not yet been made public.



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