Zeekr Intelligent Technology, a battery electric passenger vehicle company with offices in China and New York, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. The company aims to list shares on the New York Stock Exchange under the ticker ZK. While the number of shares to be listed was not disclosed, Zeekr was established on March 31, 2021. Geely Auto, a Chinese automobile company, is its controlling shareholder and will continue to retain control after the completion of the offering. It is important to note that Zeekr will continue to operate independently from Geely Auto.
According to Zeekr, it generated $4.4 billion in revenue but reported a loss of $1.05 billion in 2022. During the first half of 2022 (ended June 30), the company’s revenue amounted to $2.93 billion, with a loss of $533.78 million.
The primary use of the IPO proceeds will be directed towards the development of more advanced battery electric vehicle (BEV) technologies and expanding its product portfolio. Additionally, the funds will support selling and marketing efforts and enable the expansion of Zeekr’s service and charging network. The rest of the funds will be utilized for general corporate purposes to support its growth.