Premium Chinese EV Brand Zeekr Seeks to Raise $1 Billion in U.S. IPO, According to Sources

Newly launched electric vehicle brand Zeekr Intelligent Technology Ltd. ("Zeekr"), which is owned by Chinese automaker Zhejiang Geely Holding Group ("Geely"), aims to launch an IPO in the U.S. to raise capital from investors. Zeekr is planning to become a U.S.-listed company as early as the second quarter of 2023.

Eric Walz2022-12-12 12:30 PT

New Premium Electric Vehicle Brand Zeekr Is Exploring IPO Options in the U.S. or Hong Kong, According to Sources

New electric vehicle brand Zeekr Intelligent Technology Ltd. (“Zeekr”), which is owned by Chinese automaker Zhejiang Geely Holding Group ("Geely"), is mulling plans to launch an IPO in either the U.S. or Hong Kong. Geely announced the Zeekr in March 2021 as a standalone brand to compete with Tesla, XPeng, NIO Inc. and others in the premium EV category in China. The company is targeting tech-savvy, younger customers more likely to purchase an electric vehicle.

FutureCar Staff 2022-10-01 12:25 PT

Porsche Looking to Boost its Profits as its Prepares for a 2022 IPO That Could Value the Company as High as $81.4 Billion

Sports car manufacturer Porsche AG, which is currently a subsidiary of parent company Volkswagen AG, aims to launch an IPO later this year. But before any IPO, the iconic sports car maker wants to increase its profit margins in order to make itself more attractive to investors. Porsche’s most profitable model is the iconic 911 and sales of the iconic car could reach 40,000 units in 2022, which would be a record high number for Porsche.

Eric Walz2022-08-24 10:30 PT

Intel’s Self-Driving Car Unit Mobileye Postpones its Planned U.S. IPO That Could Value the Company up to $50 Billion

Intel's autonomous driving technology unit Mobileye has put its U.S. IPO plans on hold. With the current global market conditions, taking the company public in the upcoming months would not be beneficial, according to Mobileye founder and CEO Amnon Shashua. Intel purchased Mobileye for $15.3 billion in 2017 in its push into the automotive space.

Eric Walz2022-08-17 09:15 PT

Vietnamese Electric Vehicle Startup VinFast Files for U.S. IPO, Recently Signed MoU to Build a $4 Billion EV Factory in North Carolina

Vietnamese electric vehicle startup VinFast has big plans for expansion outside of its home country. On Thursday, its Singapore-based holding company filed for an initial public offering (IPO) with U.S. securities regulators. The plans were first reported by Reuters. The plans come after VinFast signed an MoU to build its electric vehicle factory in North Carolina. The company is investing up to $4 billion in the plant.

FutureCar Staff 2022-05-15 16:30 PT

Intel’s Autonomous Driving Unit Mobileye Confidentially Files for U.S. IPO, Which Could Value the Company at $50 Billion

Chipmaker Intel Corp plans to take its autonomous driving unit Mobileye public. The company said on Monday that Mobileye, which Intel acquired for $15.3 billion in 2017, has confidentially filed paperwork for an initial public offering in the United States. The IPO could value Intel's self-driving technology unit at more than $50 billion.

Eric Walz2022-04-13 12:55 PT

GM's Lidar Supplier Cepton Technologies Completes its Previously Announced SPAC Merger, is a Nasdaq-listed Company

Cepton Technologies, Inc. (“Cepton”), a Silicon Valley-based developer of high-performance lidar solutions, announced the completion of its previously announced business combination with special purpose acquisition company (SPAC) Growth Capital Acquisition Corp. (“GCAC”). The combined company has been renamed Cepton, Inc. and as of today, its shares will begin trading on the Nasdaq under the new ticker symbols “CPTN” and “CPTNW”.

Eric Walz2022-03-20 13:10 PT

Fuel Cell Truck Startup Nikola Corp Agrees to Pay $125 Million to Settle SEC Charges of Defrauding Investors Ahead of its High-Profile IPO

​Hydrogen fuel cell trucking startup Nikola Corp, has settled its case with the Securities and Exchange Commission (SEC) for misleading investors about the capabilities of its hydrogen-powered trucks. The company has agreed to pay $125 million to settle the case against it. Trevor Milton, the founder and former CEO of Nikola Corp, was indicted by the SEC in July for making false claims about the company's technology and reservations ahead of its high profile IPO in June 2020.

Eric Walz2022-01-27 11:40 PT

Shares of Electric Truck Maker Rivian Will Start Trading on the NASDAQ on Wednesday

Shares of Amazon-backed electric truck maker Rivian are set to begin trading on the NASDAQ on Wednesday under the symbol “RIVN” in one of the most anticipated IPOs in recent years. Rivian is offering 135 million shares to underwriters at $78 a piece, with the options to purchase an additional 20.25 million shares. The $78 stock price values Rivian at nearly $70 billion, but that figure will likely climb higher based on investor interest.

Eric Walz2021-12-17 10:00 PT

Electric Truck Maker Rivian Has Roughly 55,400 Preorders, Says it Won’t Be Able to Deliver Them All Until the End of 2023

According to an amended SEC filing on Nov 5, electric truck maker Rivian said it had had approximately 55,400 R1T pickups and R1S SUV pre-orders in the U.S. and Canada as of October 31, 2021. But based on the company's current production forecasts, it expects it won't be able to fill the pre-order backlog until the end of 2023.

Eric Walz2021-12-16 10:00 PT

Volvo Cars Shares Surge 22% After its $2.3 Billion IPO and Debut on the NASDAQ Stockholm

Swedish automaker Volvo Cars is the latest automaker to go public after the company completed its planned European IPO on Friday. The automaker's shares are listed on the NASDAQ Stockholm. Volvo Cars scaled back its IPO earlier this week, pricing it at the low end of its previously announced range of SEK 53 to 68 per share. The shares surged 20% reaching SEK 63 (US$7.32) on the first day of trading before settling back near the offer price.

FutureCar Staff 2021-12-05 13:30 PT

Volvo Cars Announces Plans for an IPO, Aims to Raise $2.9 Billion

Sweden-based automaker Volvo Cars, which is owned by Chinese automaker Zhejiang Geely Holding Group Co. (“Geely”), on Monday announced its intention to launch an Initial Public Offering (IPO) and to list its class B shares on Nasdaq Stockholm. For the proposed IPO, Volvo Cars is expected to issue new shares to raise gross proceeds of approximately SEK 25 billion (US$2.8 billion).

FutureCar Staff 2021-11-10 11:30 PT

Volvo’s Electric-Performance Brand Polestar to Go Public in a $20 Billion SPAC Deal With Gores Guggenheim, Inc.

​After months of rumors, electric-performance vehicle brand Polestar, which is jointly operated by Swedish automaker Volvo Cars and its parent company Chinese automaker Zhejiang Geely Holding (“Geely”), announced on Monday an agreement to merge with special purpose acquisition company (SPAC) Gores Guggenheim, Inc.

Eric Walz2021-11-03 10:15 PT

Electric Truck Startup Rivian Plans to Raise up to $8 Billion in its Upcoming IPO

On Wednesday, Reuters​ reported that electric truck startup Rivian is aiming to raise between $5 billion and $8 billion with its upcoming IPO later this year. The company is seeking a valuation of about $80 billion in the listing, which would make it more valuable than U.S. automakers Ford Motor Co and General Motors.

FutureCar Staff 2021-10-22 11:50 PT

Electric Truck Maker Rivian Files for IPO, Aiming for an $80 Billion Valuation

​Electric truck maker Rivian, a company backed by e-commerce giant Amazon and Ford Motor Co., has filed paperwork for an IPO, in one of the most anticipated Wall Street debuts in the auto industry since Tesla went public in June 2010.

FutureCar Staff 2021-10-03 11:15 PT

The Founder & Former CEO of Fuel Cell Truck Startup Nikola Corp Indicted for Misleading Investors

Trevor Milton, the founder and former CEO of fuel cell truck startup Nikola Corp, has been indicted for deceiving investors and is facing criminal charges for making false and misleading statements, the U.S. Department of Justice said on Thursday. Prosecutors in New York charged Milton with two counts of securities fraud and one count of wire fraud over his statements from Nov 2019 to Sept 2020 about Nikola's products and technology.

FutureCar Staff 2021-09-04 09:00 PT

Luxury-Electric Automaker Lucid Motors to Launch its Much-Anticipated IPO Next Week

The shareholders of special purpose acquisition company (SPAC) Churchill Capital Corp IV have approved its merger with luxury electric vehicle startup and Tesla challenger Lucid Motors, paving the way for the company’s much anticipated IPO next week. Shares of Lucid Motors will list on the Nasdaq beginning on Monday July 26, 2021.

Eric Walz2021-08-29 11:30 PT

Volvo Cars to Take Full Control of its Chinese Business From Automaker Geely as it Explores a Possible IPO

Swedish automaker Volvo Cars has struck a deal to buy out parent company Zhejiang Geely Holding (Geely) from its joint ventures in China, in a move that could make a possible initial public offering (IPO) of Volvo Cars more attractive to investors. Chinese automaker Geely is the parent company of Volvo Cars and the two companies are joint venture partners in China building cars for the local market.

FutureCar Staff 2021-08-27 13:00 PT

Autonomous Driving Startup Aurora Inc. to Go Public in a SPAC Deal With a $13 Billion Valuation

Autonomous driving startup Aurora Inc., co-founded by three industry veterans, plans to go public in a merger with special purpose acquisition company (SPAC) Reinvent Technology Partners Y, a firm led by LinkedIn co-founder Reid Hoffman and Mark Pincus, the founder of game developer Zynga. The transaction will value Aurora at roughly $13 billion and represents the latest high-profile SPAC deal.

Eric Walz2021-08-21 13:30 PT

Volvo-backed Electric Brand Polestar in Talks to go Public via a SPAC Deal, Sources Say

Polestar, the new electric performance brand of Volvo Cars and its parent company Chinese automaker Zhejiang Geely Holding Group Co (Geely), is in talks to go public through a merger with Gores Guggenheim Inc., a blank check-firm, according to people with knowledge of the matter.

FutureCar Staff 2021-08-14 13:05 PT