Geely’s EV Brand Zeekr Raises $750 Million at $13 Billion Valuation

Zeekr is a premium automobile brand that designs and manufactures purely-electric vehicles and car models. The EV brand targets younger, trendier customers.

Zeekr, an electric vehicle brand of Geely Holding Group, has announced it raised $750 million bringing the company valuation to $13 billion. The investors include Amnon Shashua, CEO and founder of autonomous driving technology company Mobileye Global – majority owned by Intel Corp – and the Guangzhou city municipal government’s investment arm Yuexiu Industrial Fund, both new investors in the company. Supporters of the funding round also include Chinese battery maker CATL, already among Zeekr’s backers. The fresh funding will be used to support technology research and global expansion of Zeekr brand.

Geely, Hangzhou, China, established the Zeekr electric vehicle brand in 2021. Currently, Mr. An Conghui is the President of Geely Holding Group, Chairman of Geely Auto Group, and CEO of Zeekr Intelligent Technology. The premium automaker Zeekr sold about 72,000 cars last year and intends to double that in 2023 with a global expansion. “The Series A fundraising is a vote of confidence in the growth prospects and strong future of Zeekr, which becomes the latest brand in the Geely Holding portfolio to secure a strong valuation,” noted Daniel Donghui Li, chief executive of Geely Holding Group.

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