Geely-owned Zeekr raises $750-M from 5 investors

Geely announced that Zeekr, its electric mobility brand, has secured around $750 million (P41.297 billion) with the help of five investors.

According to the Chinese automotive conglomerate, the funds will be used to accelerate the global development of its propriety technologies while also aiming to expand its global market footprint by entering the European market in 2023.

The company identified the five investors as Professor Amnon Shashua, Contemporary Amperex Technology Ltd (CATL), Yuexiu Industrial Fund, Tongshang Fund, and Xin’an Intelligent Manufacturing Fund.

“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,” said Geely Holding Group Chief Executive Officer Daniel Donghui Li.

Thanks to the aforementioned investment, Geely’s Zeekr electric vehicle brand is now valued at US$13 billion or around P714 billion.

Photos from Geely and Zeekr

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