• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Saturday, June 14, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Read a ride Cars/SUVs

Zeekr targets $5.13 bn valuation in landmark U.S. IPO

David Ijaseun by David Ijaseun
May 4, 2024
in Cars/SUVs, Electric Vehicles
0
Zeekr
1.3k
SHARES
17.9k
VIEWS
Share on FacebookShare on Twitter

Zeekr Intelligent Technology Holding, a prominent electric vehicle manufacturer, aims to achieve a valuation of up to $5.13 billion in its upcoming U.S. initial public offering (IPO). This move marks a significant milestone as the first major flotation of a China-based company in over two years.

In its IPO, Zeekr plans to raise $367.5 million by offering 17.5 million American depositary shares (ADSs) priced between $18 and $21 each. This offering comes at a crucial time, testing investor sentiment towards Chinese companies amidst ongoing tensions between the U.S. and China over trade, intellectual property, and Taiwan’s future.

READ ALSO

UK lawmakers signal u-turn on EV ‘Tesla tax’ after industry backlash

Solar-Electric Oceanwalker S60e promises cleaner, quieter cruising by 2026

According to Dealogic data, six IPOs of Chinese companies in the U.S. raised $46.9 million in the first quarter of 2024, a stark decline from $428 million during the same period last year. This drop reflects the impact of regulatory uncertainties and geopolitical tensions on Chinese firms seeking U.S. listings.

The IPO resurgence follows the resolution of a longstanding regulatory dispute between the U.S. and China. Last year, Beijing eased restrictions and issued new rules to facilitate such listings, following the resolution of an audit dispute between the U.S. accounting watchdog and China in December 2022.

Zeekr’s last valuation stood at $13 billion after a funding round in February last year. However, the company has warned investors about risks, including the substantial influence exerted by the Chinese government over its operations and the intense competition in China’s EV market.

Despite these challenges, several existing shareholders and third-party investors, such as Geely Auto, Mobileye, and CATL, have expressed interest in subscribing to up to $349 million worth of ADSs in the IPO. This indicates a level of confidence in Zeekr’s future growth prospects and the broader EV market.

The broader market context on Friday was one of optimism, with Wall Street rallying after a softer-than-expected jobs report. This development fueled hopes for potential rate cuts from the Federal Reserve, underscoring the resilience of the U.S. economy amidst global uncertainties.

Read more on Mercedes-Benz announcing plans to launch luxury electric van in China, the world’s largest EV market

Related Posts

UK lawmakers signal u-turn on EV ‘Tesla tax’ after industry backlash
Electric Vehicles

UK lawmakers signal u-turn on EV ‘Tesla tax’ after industry backlash

June 11, 2025
OceanwalkerS60e
Electric Vehicles

Solar-Electric Oceanwalker S60e promises cleaner, quieter cruising by 2026

June 11, 2025
VinFast posts $712m Q1 loss despite 300% jump in EV deliveries
Business

VinFast posts $712m Q1 loss despite 300% jump in EV deliveries

June 11, 2025
Germany’s electric vehicle market staged a strong comeback in May
Electric Vehicles

Germany’s electric vehicle market staged a strong comeback in May

June 11, 2025
BYD to triple South African dealerships as electric vehicle sales surge
Africa

BYD to triple South African dealerships as electric vehicle sales surge

June 11, 2025
Tesla’s senior energy engineer departs after 10 years, joins battery recycler
Electric Vehicles

Tesla’s senior energy engineer departs after 10 years, joins battery recycler

June 8, 2025
Next Post
How United Airlines transformed customer loyalty program into $20bn

How United Airlines transformed customer loyalty program into $20bn

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Maserati

Maserati: Crafting luxury cars since 1914

April 1, 2023
Stolen vehicles have been recovered in Kano State

Police leverage technology to recover stolen vehicles in Nigeria

February 2, 2025
BYD [Source BYD USA]

BYD’s Q1 sales fall sharply by 43%, opens path for Tesla to regain top EV seller title

April 2, 2024
Tesla [Source: Investopedia]

Tesla sells 21,900 eVs in a week, sets Q4 sales record in China

December 11, 2024

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Air India flight to London crashes after takeoff in Ahmedabad with 242 on board
  • Mechanics like Musa are the real engineers of Africa
  • UK lawmakers signal u-turn on EV ‘Tesla tax’ after industry backlash
  • Solar-Electric Oceanwalker S60e promises cleaner, quieter cruising by 2026

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In