Geely's Zeekr to go public in the US

Zeekr, a premium electric vehicle marque of Geely Holding Group, said on Friday that it has filed for its initial public offering on the New York Stock Exchange.

If things go smoothly, it will become the fourth Chinese smart EV company to go public in the United States, after Nio, Xpeng and Li Auto.

Zeekr saw its operating revenue hit 21.27 billion yuan ($2.92 billion) in the first half this year, up 136 percent year-on-year, of which 13.18 billion yuan came from vehicle sales. Its operating revenue stood at 31.90 billion yuan in 2022.

The marque's gross margin from January to June this year reached 12.3 percent, up 7.6 percentage points from the same period in 2022.

Established in March 2021, Zeekr has launched three models in the market, with total deliveries exceeding 170,000 units.

Its research and development investment hit 3.19 billion yuan in the first half of this year, up 56.09 percent year-on-year, bringing the total R&D expenditure since its establishment to 11.8 billion yuan.