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.”
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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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