Geely has confirmed that it is in the process of listing its Zeekr brand on the New York Stock Exchange. The brand hopes to raise nearly a billion dollars from new investors.
For a few days the Chinese media have been talking about a possible IPO of Zeekr. The principle is now officially confirmed by the parent company, Geely. The group’s premium electric car brand, set to compete with local start-ups, already occupies a special place in the Geely galaxy, with an independent legal structure. This now makes it possible to consider a partial split.
To make the most of the opportunity to raise funds, Geely opted for the New York Stock Exchange, not Hong Kong. The operation could take place in the second quarter of 2023. 10% of the capital would be put on the market and Zeekr hopes to reach an overall valuation of 10 billion dollars. And therefore raise 1 billion, which would partially finance the many projects for the brand.
Because if the brand currently only has two models in its range, the 001 et 009intends to take sides in the medium term a range electric crossovers and sedans in the C, D and E segments. Also establishing itself internationally with an arrival in Europe in 2023.
Good point ahead of this market introduction, Zeekr is on track to hit its goal of 70,000 cars this year. Recall that this is its first full year, as the first 001s were delivered in October 2021. The brand thus delivered 66,611 cars in the first 11 months of the year, 11,011 of which in November.
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