China’s Zeekr Reportedly Files for U.S. IPO, NYSE Listing

Chinese electric-vehicle maker Zeekr reportedly has filed for a U.S. initial public offering (IPO).

The IPO filing, as first reported by Reuters, reveals the Geely-owned company is seeking to raise more than $1 billion in investment as part of plans to take the Zeekr brand global as a rival to Tesla.

Zeekr is claimed to have filed IPO paperwork with U.S. regulators in early December.

Citing sources with knowledge of the IPO filing, Reuters says Zeekr is seeking a valuation of more than $10 billion. A listing could come as early as the second quarter of 2023, the news service claims.

The move to list in New York comes after Zeekr confirmed it had submitted an IPO proposal to the Hong Kong stock exchange.

By choosing New York as the venue for its IPO, Zeekr is hoping for a higher valuation, says Reuters.

Zeekr was officially launched in March 2021, one month before the Chinese automaker revealed its first model, the 001 fastback. Its second model, the 009 MPV, was unveiled last month.

Since the start of 001 deliveries in December 2021, Zeekr has delivered a total of 66,611 units.

A third Zeekr production model, a price-leading hatchback, is planned for launch in China in 2023.