Zeekr, the premium electric vehicle brand of Chinese automaker Geely, is launching in four Middle East countries next year as it intensifies its global push ahead of a planned US listing, reports the Financial Times. The brand joins other Chinese EV makers including Warren Buffett-backed BYD that are expanding overseas in search of growth at a time of slowing sales and fierce competition in China.
The expected $1 billion Zeekr IPO would be the largest US listing by a Chinese firm since ride-hailing giant DiDi raised $4.4 billion in 2021. Since then, strained US-China ties and Beijing’s stricter cross-border listing rules have frozen the Chinese listing pipeline.
“Our competitive pricing strategy will be set to compete with traditional premium car brands such as BMW and Audi,” Chen Yu, a Zeekr vice-president, told the Financial Times.