China's Zeekr confidentially files for an IPO, seeking a valuation of over $10 billion
Zeekr, a premium electric car brand under China's Geely, has confidentially filed for an initial public offering in the United States.
If the IPO goes through, it will be the first major Chinese listing in the country in nearly two years, following China's effective ban on foreign IPOs.
The EV maker's filing comes a few months after Washington and Beijing struck a deal that lowers the likelihood of delisting more than 200 Chinese firms listed on New York exchanges by allowing American officials to review audit documents of Chinese businesses that trade in the U.S.
The filing does not provide any details, such as the number of shares to be offered, the price range, or the listing date. According to a Reuters report, Zeekr aims to raise over $1 billion through its debut and is seeking a valuation of more than $10 billion, citing people with knowledge of the matter.
Zeekr recently held a joint event with autonomous vehicle company Waymo in Los Angeles to showcase its Autonomous Mobility Platform, an electric minivan-type vehicle that is built with Waymo's AV stack for future robotaxi and logistics operations.
The company has also partnered with Mobileye, a company developing advanced driver assistance systems and AV technology, to build an all-electric autonomous vehicle for consumers. Zeekr counts Tesla and Chinese peer Nio as competitors and is currently marketing its 001 crossovers, its flagship and only model, in Europe next year.
