From Asia Financial: 2024-05-11 12:25:43

Zeekr’s debut on NYSE sees shares soar 35% above IPO price at $28.26, valuing the company at $6.8 billion, half of 2021 valuation. The move comes amid US tariffs on Chinese vehicles and softening stance on allowing Chinese firms to list overseas.

Zeekr, the luxury EV brand of Geely, delivered 49,148 vehicles in Q1 2022, surpassing rivals Xpeng and Nio. Competition in China prompts EV makers to expand to Europe. Despite a tough market for EV stocks, Zeekr’s IPO upsizing reflects strong investor demand and market favorability for new energy vehicles.

Beijing’s regulatory grip on data flows has impacted Chinese firms seeking US listings. Zeekr’s listing suggests a possible softening of China’s stance. Amid escalating US-China tensions, Zeekr’s successful debut highlights investor confidence in the EV market and the brand’s global capabilities.



Read more at Asia Financial: Chinese EV Maker Zeekr Flies on Blockbuster US Market Debut