On November 10, 2023, Zeekr, the premium electric vehicle brand of China’s Geely Holdings, announced that it had applied for an Initial Public Offering (IPO) on the New York Stock Exchange. If everything goes as planned, Zeekr will become the fourth Chinese electric vehicle company listed in the United States, following NIO, Xiaopeng, and Li Auto.
Zeekr’s operating profit for the first half of this year increased by 136% compared to last year, recording 21.27 billion yuan (approximately 2.92 billion USD). Of this, 13.18 billion yuan came from sales. The operating profit for 2022 was 31.9 billion yuan.
The total profit margin for the first half of this year was 12.3%, up 7.6 percentage points from the same period in 2022. Zeekr, established in March 2021, has three models in its lineup and has sold more than 170,000 units in total.
The investment in research and development in the first half of this year was 3.19 billion yuan, an increase of 56.09% compared to last year. The total R&D expenditure since its establishment has reached 11.8 billion yuan.
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