Geely’s EV brand Zeekr raises $500 million in first external funding
Zeekr, the premium electric vehicle brand by Geely, said on Friday it 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% stake in the company, valuing it at around $9 billion.
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.
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 carmaker said in a statement.
