Chinese electric car manufacturer Zeekr, a subsidiary of Geely Auto, has reported a substantial revenue growth in its updated paperwork filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission.
The filing reveals that Zeekr’s total revenue nearly doubled, reaching an impressive 35.31 billion yuan ($4.90 billion) for the nine months ending September 30, compared to 18.47 billion yuan in the corresponding period the previous year.
Despite the positive revenue trend, Zeekr also disclosed a widened loss from operations, increasing from 4.90 billion yuan to 5.23 billion yuan. The IPO filing, made public after a confidential submission in December, is yet to provide details on the size and proposed price range of the offering.
Having achieved a valuation of $13 billion in February following a $750 million funding round, which included contributions from notable investors like Amnon Shashua, CEO and founder of Mobileye Global, and the Guangzhou city municipal government’s investment arm, Yuexiu Industrial Fund, Zeekr appears poised to navigate the competitive electric vehicle landscape with its robust financial standing.
