It is said that Chinese electric truck maker Zhizi plans a $200 million IPO in Hong Kong
(Bloomberg) – Chinese electric truck maker Zhizi Automobile Technology Co. is considering an initial public offering in Hong Kong that could raise about $200 million, according to people familiar with the matter.
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Zhizi is in conversation with potential advisers to help prepare for potential share sale and request that information not be identified because it is not public. They added that the review is underway and may not lead to an IPO.
Zhizi’s representative did not respond to a request for comment.
China dominates electric vehicles due to its cost competitiveness and advanced technology from automakers, as well as batteries that can use raw materials. According to Bloomberg Nef, sales of electric trucks in China have more than doubled, although the growth is mainly in the passenger car sector.
Zhizi produces trucks, tractors and other commercial vehicles. Another Chinese electric truck maker, Windrose Technology Inc., is also seeking disclosure.
Zhizi was founded in 2022 by Dech Future Automobile Technology Co., which is co-founded by Shaanxi Automobile Holding Group Co., one of the largest heavy truck manufacturers in China.
– Assisted by Linda Lew and Dong Cao.
Most of them come from Bloomberg Business Weekly
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