ZEEKR, a new electric mobility technology and solutions brand under Geely, raised USD 750 million from the series A financing round. The funds raised will be used primarily for ZEEKR's product and technology R&D, global business development and user experience enhancement.
On February 13, ZEEKR (Chinese: 极氪), a premium electric marque of Zhejiang Geely Holding Group (Chinese: 吉利集团), announced its completion of a USD 750 million series A financing round, targeting a post-money valuation of USD 13 billion. This financing round was jointly invested by Mobileye's founder and CEO Amnon Shashua, Chinese battery maker CATL (Chinese: 宁德时代), Yuexiu Industrial Fund (Chinese: 越秀产业基金), Tongshang Fund (Chinese: 通商基金) and Quzhou Xin'an Intelligent Manufacturing Fund (Chinese: 衢州信安智造基金). The funds raised will be used primarily for ZEEKR's product and technology R&D, global business development and user experience enhancement.
The investors possess rich industrial resources in their respective fields, especially in intelligent driving, power batteries, high-end equipment manufacturing and other areas with core competencies. Among them, CATL has made additional investments to further deepen their cooperation. Yuexiu Industrial Fund, Tong Shang Fund and Quzhou Xin'an Intelligent Manufacturing Fund will assist ZEEKR in integrating its rich industrial resources, helping the company to innovate and develop in the upstream and downstream of the industrial chain.
As a global technology company, ZEEKR is accelerating the pace of globalization with the launch of its market entry to Europe this year, to create value in mature international markets. This year, ZEEKR plans to launch two new products to continuously enrich its product matrix and double its new vehicle delivery quantities.
Conghui An, CEO of ZEEKR said, "ZEEKR is committed to building a globally influential high-end electric vehicle brand and is very pleased to receive support from leading investors in various industries. 'Co-creation and co-investment' is the business philosophy of the company. ZEEKR insists on co-creation with users and global high-quality ecological partners to jointly promote innovative exploration in the field of high-end electric vehicles and improve user experience."