Premium EV brand renews funding efforts

Geely’s premium EV brand, Zeekr, has renewed its plans to raise funds for a public IPO in the US, Reuters reports, citing anonymous sources close to the matter.

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Last November Zeekr paused its efforts to raise $500 million due to a mismatch in valuation expectations between investors and the company.

In February 2023 it was valued at US$13 billion and had previously raised $750 million from Chinese battery giant CATL and Amnon Shashua, the CEO of autonomous driving technology company Mobileye Global.

In a statement to Reuters on plans to renew the IPO, Zeekr said: “The company has made a public filing to the SEC and is proceeding with the preparatory work.”

At the time of its first IPO filing last November, if successful, it will be the first major Chinese listing in the US, following China’s effective ban of foreign IPOs.

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