As if China didn’t have enough new energy vehicle (NEV) stocks already, a new choice is zooming to the starting gate with the filing of a new U.S. IPO prospectus by Zeekr Intelligent Technology Holding Ltd. This company is notable compared with the many Chinese NEV choices already out there due to its strong ties to Geely, one of China’s leading private car makers.
Zeekr is also notable for its relatively late arrival to the Chinese NEV scene. It was founded just two years ago. By comparison, industry leader BYD (1211.HK; 002594.SZ) has been making NEVs for more than a decade, which was what attracted billionaire investor Warren Buffett to the company back in 2008.
Wang Chuanfu is the brains and visionary behind BYD, which has passed Tesla (TSLA.US) to become the world’s biggest electric vehicle (EV) maker. But Geely’s founder, Li Shufu, is no slouch either, and is equally notable as a visionary who has built Geely into China’s first global car company, with a stable of brands that includes Volvo and Lotus.