Zeekr Intelligent Technology, the electric mobility brand of Chinese automotive company Zhejiang Geely (Geely), has raised $750m in a Series A funding round from five investors at a valuation of $13bn.
The investors who took part in the Series A round are Amnon Shashua, Contemporary Amperex Technology (CATL), Yuexiu Industrial Fund, Tongshang Fund, and Xin’an Intelligent Manufacturing Fund. Zeekr has signed an investment agreement with the five partners.
Founded in 2021, Zeekr has developed its own battery technologies, electric motor technologies, battery management systems, and electric vehicle (EV) supply chain support.
The proceeds from the funding round are expected to help the company in its continued technology research and global expansion.
Zeekr aims to enter the European market in 2023 and expedite the global development of its propriety technologies.
Furthermore, the electric mobility technology brand will use the funds to explore and expand its global sales network.
Geely CEO Daniel Donghui Li said: “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.
“Geely Holding will continue to explore ways to unlock value across our portfolio as we pioneer new services and mobility solutions to meet customer demand across the world.”
According to Zeekr, the Series A funding round corresponds to the accelerating electrification transition across Geely to enable zero-emission growth and new mobility technologies.
The electric mobility brand stated: “The successful signing of the second external funding round represents a significant vote of confidence as Zeekr develops proprietary technologies built around safety, sustainability, user-experience, and new mobility services.”