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Zeekr Raises $500 Million In First External Funding: Report

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  • Zeekr said investors would jointly hold a 5.6 per cent stake in the company, valuing it at around $9 billion
  • It added that the company makes the Zeekr 001 model in the eastern city of Ningbo and is expected to start delivering them later this year

As per a report by Reuters, Zeekr, the premium electric vehicle brand by Geely, said that it has raised $500 million in its first external funding from investors including Intel, battery maker CATL and online entertainment firm Bilibili. Zeekr said investors would jointly hold a 5.6 per cent stake in the company, valuing it at around $9 billion.

It added that the company makes the Zeekr 001 model in the eastern city of Ningbo and is expected to start delivering them later this year. It aims to sell 650,000 vehicles a year by 2025. The report added that investors also included Cathy Fortune Corporation, which invests in mining companies, and private-equity firm Boyu Capital that additionally signed long-term investment partnerships with Zeekr, the company added in a statement.

Zeekr is jointly owned by Geely Automobile and its parent Zhejiang Geely Holding Group. It said that the companies are expected to contribute expertise in intelligent connectivity, batteries, young consumer markets and raw materials

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