Streetbeat News

GELYY

Geely Automobile Holdings Ltd.

http://www.geelyauto.com.hk/

CEO

Sheng Yue Gui

Open

45.50

Mkt cap

23B

Volume

2.3K

High

45.77

P/E Ratio

11.83

52-wk high

48.85

Low

45.05

Div yield

0.01

52-wk low

18.48

Zeekr Intelligent Technology Holding Limited (NYSE:ZK) priced its U.S. IPO at $21 per share, at the top end of its estimated range, with shares to begin trading on May 10, 2024. The offering is expected to close on May 14, 2024, potentially raising up to $507.2 million if the underwriters' over-allotment option is fully exercised. Strategic investors including Geely Automobile Holding (OTC:GELYY), Contemporary Amperex Technology, and Mobileye Global Inc (NASDAQ:MBLY) accounted for $300 million of the IPO. Despite a strong demand for Zeekr's IPO, analysts are skeptical about an imminent surge of Chinese listings in New York.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 10:52 am

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) is expanding production outside China due to tariff concerns and geopolitical tensions. CEO Thomas Ingenlath plans to increase exports of the Polestar 3 from South Carolina to the EU. This move comes as Chinese EV companies face scrutiny in Europe and the U.S. over state subsidies. After a major ownership restructuring, with Geely Automobile Holding (OTC:GELYY) and a private firm now holding a 69% stake, Polestar aims for a global sales distribution targeting 155,000 to 165,000 cars by 2025. PSNY shares dropped 3.94% to $1.23.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 5:31 pm

Zeekr, Geely Automobile Holdings' premium EV brand, is reviving its plans for a $500M IPO in New York, after halting due to market volatility. The company has resumed investor engagement and filed with the SEC. This comes amid a quiet period for Chinese companies' IPOs in the U.S, with Zeekr aiming to double its car deliveries in 2024.

Portfolio Pulse from Shivani Kumaresan

April 03, 2024 | 10:56 am

Mercedes-Benz CEO Ola Källenius has called for the European Union to lower tariffs on Chinese electric vehicles (EVs) amid a European Commission investigation into Chinese automotive subsidies. Källenius argues that reducing tariffs would foster competition, enhancing European car quality. The investigation focuses on whether Chinese subsidies allow their carmakers, like BYD and Geely, to undercut European manufacturers. Stellantis and Renault, facing competition from Chinese EVs, have different views, with Stellantis expressing concerns over the threat from Chinese vehicles.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 1:07 pm

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) may soon welcome Geely Sweden Holding, a subsidiary of Geely Holding Group, as a new shareholder. This potential shift in ownership is under evaluation by Volvo Cars, which could redistribute shares to its shareholders, making Geely Sweden Holding a primary recipient. Volvo Cars will continue its strategic partnership with Polestar in R&D, manufacturing, and other areas. Amid market challenges and competition, Polestar remains optimistic about its sales outlook for 2024. Bernstein analyst Daniel Roeska has suggested that Polestar might benefit from going private. Geely's EV arm, Zeekr, plans to double car deliveries in 2024, indicating a strategic alignment with Polestar's focus on electric performance cars.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 7:30 am

Geely Automobile Holding's electric car subsidiary, Zeekr, aims to double its car deliveries to 230,000 vehicles in 2024. Zeekr experienced a 65% increase in sales in 2023, delivering 118,685 cars but fell short of its 140,000 target. The company is expanding in Europe, the Middle East, and Asia, and postponed its U.S. IPO due to valuation issues and market instability. Geely's stock (GELYY) closed slightly higher at $21.38.

Portfolio Pulse from Shivani Kumaresan

January 08, 2024 | 11:29 am

Geely Automobile Holding Ltd's EV exports face potential delays and cost increases due to hostilities in the Red Sea, prompting shippers to reroute around the Cape of Good Hope instead of the Suez Canal. This could lead to quintupled shipping costs and a vessel shortage. China's vehicle exports to Europe have surged, causing EU regulatory concerns. Stellantis N.V. is monitoring the situation to adapt its strategy.

Portfolio Pulse from Shivani Kumaresan

December 22, 2023 | 1:09 pm

Zeekr, the premium EV brand of Chinese automaker Geely (OTC:GELYF), has launched its own rapid-charge lithium iron phosphate batteries, which can charge to deliver a 500 km range in just 15 minutes. The technology will debut in the upcoming 007 sedan. This development is part of a broader trend among Chinese EV manufacturers, like Nio Inc (NYSE:NIO) and Li Auto Inc (NASDAQ:LI), to advance their battery technologies. Nio is considering spinning off its battery unit, while CATL's fast-charging batteries are used in Li Auto's vehicles. Geely's shares (OTC:GELYY) fell by 0.98% to $20.66.

Portfolio Pulse from Shivani Kumaresan

December 15, 2023 | 5:17 pm

Zeekr, the premium EV brand of Geely Automobile Holdings Ltd, has postponed its U.S. IPO due to market instability and valuation concerns. Despite the postponement, Zeekr has filed with the SEC and is continuing preparatory work. The company reported an increased operational loss in its recent filings and has delivered over 92,000 vehicles since the start of the year.

Portfolio Pulse from Anan Ashraf

November 30, 2023 | 1:02 pm

China's Geely Holding Group has entered into a Master Collaboration Agreement with DRB-HICOM Berhad to develop Malaysia's Automotive Hi-Tech Valley. The project aims to emphasize the manufacturing of automobiles and the creation of high-tech components for new energy vehicles. DRB is the majority shareholder of Malaysian car maker Proton, in which Geely also has a 49.9% stake.

Portfolio Pulse from Shivani Kumaresan

October 11, 2023 | 10:32 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.