Geely wants to release Zeekr's premium EV brand

Chinese automaker giant Geely is launching a new premium brand for EVs in 2021. Zeekr, meanwhile, is launching the 001, selling around 45,000 of them, in less than a year. The brand is also gearing up to finally start shipping the 009, which officially launches tomorrow.

Earlier today, parent company Zeekr Geely announced that it wants to divest its premium sub-brand and roll it up into its own independent company, which will then be listed on the Hong Kong Stock Exchange (HKEX). The exchange has confirmed that Geely's plan is viable, but there are many details that are still not finalized.

For its part, Zeekr responded by saying that they will disclose all required information in a timely manner and will comply with all relevant laws and regulations. Zeekr wants to sell 70,000 vehicles this year, and the management team is committed to that goal above all else, even while doing spinoffs at the same time.

Since its founding, Zeekr has completed two financing rounds, with companies such as Intel Capital, CATL, Bilibili, Cathay Fortune Group and Boyu Capital involved in the August 2021 round that raised a total of $500 million. It's not clear how much money Geely is looking to raise from Zeekr's initial public offering (IPO) on HKEX, but we wouldn't be surprised at all if it were in the billions of dollars.

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