On May 10th, it was announced that Jinko Auto has officially been listed on the New York Stock Exchange (NYSE), becoming the fourth Chinese new energy vehicle company to be listed in the United States after NIO, Li Auto, and XPeng.
Moreover, Jinko has set a new record for the fastest IPO of new energy vehicle companies, achieving a successful IPO just 37 months after the brand was launched on April 15, 2021.
It is reported that Xpeng, with the stock code "ZK" on the New York Stock Exchange, has expanded its IPO size due to oversubscription. Priced at $21 per share, Xpeng issued a total of 21 million American Depositary Shares (ADS), with each ADS representing 10 common shares, raising approximately $441 million.
If the underwriters exercise their over-allotment option, the offering size will further increase to 24.15 million ADS, raising around $507 million. This marks the largest fundraising action by a Chinese company in the U.S. capital market in the past three years.
Xpeng's successful listing on the U.S. stock market means it can attract more international capital for accelerating business expansion and technological research and development. It also signifies gaining recognition in the international market and enhancing brand value.
In terms of performance, Xpeng has sold over 240,000 vehicles to date. For a new player in the car manufacturing industry established just three years ago, this sales figure is quite impressive.
In the first four months of 2024, Xpeng's cumulative sales surged by 111% year-on-year, securing its position as the top-selling Chinese pure electric vehicle brand with sales exceeding 200,000 units.
