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Zeekr Intelligent Technology Holding (IPO) opened trading Friday at $26 after the Chinese electric vehicle maker priced its IPO at $21 per share. Male shares (New York Stock Exchange: ZK) zoomed to $29.20 before settlement behind. The initial surge in electric vehicle stocks pushed their market value to more than $6 billion. This puts the stock in the rough neighborhood of VinFast Auto (VFS) With a market cap of $7.2 billion, XPeng (XPEV) with a market value of $6.3 billion, and Lucid Group (LCD) with a market value of $6.2 billion.
Zeekr's (ZK) public debut arrived during a volatile period for demand in the broad electric vehicle sector. There are also ongoing concerns about pricing and margin trends impacting investor sentiment.
More about Zeker: Zeeker (ZK) described itself in a recent Securities and Exchange Commission filing as a fast-growing battery electric vehicle technology company that aspires to lead the electrification, intelligence and innovation process in the automotive industry. “Since our inception, we have focused on innovation in battery electric vehicle engineering, hardware, and software, and the application of new technologies. Our efforts are supported by our strong internal R&D capabilities, deep product understanding, high operational flexibility, and an efficient organizational structure. These features enable Together with rapid product development, launch and iteration, a series of customer-oriented products and go-to-market strategies, we are able to scale quickly even with a limited operating history. Our current model lineup includes Zeekr 001, Zeekr 001 FR, Zeekr 009, Zeekr High-end sedan In 2023, Zeeker (ZK) generated revenue of $7.28 billion and recorded a net loss of $1.16 billion. Monthly deliveries in 2024 ranged from 16,089 in April to 7,510 in February General.