What?
Zeekr, an electric vehicle subsidiary of Geely Holding Group, is planning a US IPO to raise $368 million at a valuation of $5.13 billion. The company aims to issue 17.5 million ADSs at a price range of $18 to $21 per ADS.
So What?
Zeekr’s valuation goal is ambitious but falls short of Nio’s market cap. The company’s strategy includes using IPO proceeds for R&D, expanding its charging network, and achieving profitability by 2024. Despite losses in recent years, Zeekr aims for significant growth with sales target of 230,000 units in 2024.
What’s next?
Investors are keenly watching Zeekr’s IPO performance and subsequent growth trajectory. With a focus on technology development and expanding their market presence, Zeekr’s success in achieving profitability by 2024 will be a key milestone. The EV market continues to evolve rapidly, and Zeekr’s strategic moves will shape its competitive position in the industry.
Source: https://cnevpost.com/2024/05/04/zeekr-seeks-5-billion-valuation-us-ipo/