CHINESE EV MAKER ZEEKR SOARS NEARLY 35% IN STELLAR US MARKET DEBUT

Zeekr's shares had a strong debut on Friday, rising nearly 35% above their initial public offering (IPO) price. This successful start marks the first major U.S. market debut by a China-based company since 2021 and signals a positive reception from investors. The electric-vehicle maker aims to differentiate itself in the competitive landscape of Chinese EV manufacturers by targeting a larger share of the European market. Despite potential challenges such as the Biden administration's plans to increase tariffs on Chinese vehicle imports to the United States, Zeekr remains optimistic about its prospects.

CEO Conghui An, who also serves as the president of Zeekr's parent company, Geely Holding Group, emphasized the company's global ambitions and the favorable capital markets in New York for new energy vehicles. Geely, the parent company of Zeekr, is known for its ownership of Volvo Cars and Lotus. Zeekr, positioned as a premium brand within Geely, was established in 2021 to meet the growing demand for premium electric vehicles in China. Since its inception, the company has delivered nearly 200,000 cars, primarily in the Chinese market.

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