ZEEKR Intelligent Technology Holding (ZEEKR) has placed itself in the spotlight with its impending initial public offering (IPO) on the New York Stock Exchange (NYSE). ZEEKR is now seeking to reach a valuation of up to $5.13 billion in what would be a landmark event for China-based automotive companies entering the U.S. EV market. 

Since its founding three years ago, ZEEKR has made a name for itself and its decision to go public showcases the first major IPO by a China-based company in over two years. With investors monitoring closely, the growth of Chinese automotive companies will account for the demand that the U.S. public has for Chinese EV offerings. Currently, the company’s diverse product portfolio includes the ZEEKR 001, the ZEEKR 009, the ZEEKR X, and many more. 

In preparation for its IPO, ZEEKR is aiming to offer 17.5 million American depositary shares (ADSs) priced between $18 and $21 each. The goal is to raise around $367.5 million and there have been major stakeholders like Geely Auto, Mobileye, and CATL expressed interest in subscribing to shares combining up to $349 million. 

ZEEKR’s plans for a public listing will have it join Geely’s other public companies such as Volvo and Polestar in its lineup. Furthermore, the company will also be a new addition to the list of competitors in the Chinese EV market including Xpeng, Li Auto, and Nio, as a publicly listed company in the U.S. that has challenged Tesla on its own grounds in China. 

Aside from ZEEKR’s goal to enter into the U.S. EV market, ZEEKR has already been in other global markets notably the European EV market with more efforts to enter six European countries by the end of 2024. These European countries include Netherlands, Germany, France, Norway, Denmark, and Sweden.

Despite headwinds from regulatory uncertainties in the U.S., this bet by ZEEKR reflects the broader appeal of Chinese EVs, and all eyes will be on ZEEKR as it guides through these challenges in the U.S. EV market. ZEEKR has stated that it will trade under the ticker symbol, ZK.

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