Geely’s premium EV brand, Zeekr, has put its US IPO on hold, Reuters reports.

The pause has been attributed to a mismatch in valuation expectations, two sources have disclosed.  

In a statement to the news agency, Zeekr said: “The company has made a public filing to the SEC and is proceeding with the preparatory work.” It did not provide further details.

It comes after its IPO paperwork was made public, a year after Zeekr said it had confidentially filed for a US IPO.

It was valued at US$13bn in February this year. It raised $750 million from Chinese battery giant CATL and Amnon Shashua, the CEO of autonomous driving technology company Mobileye Global.

If successful, Zeekr will be the first major Chinese automotive company listing in the US.

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By GlobalData