Geely’s EV brand Zeekr raises $750 million in new funding Reuters

© Reuters. FILE PHOTO: Visitors check out Zeekr 001, a model of Geely’s electric vehicle (EV) brand Zeekr, at a factory in Ningbo, Zhejiang province, China, April 15, 2021. REUTERS/Yilei Sun

SHANGHAI (Reuters) – Zeekr, the electric car brand of China’s Geely Automobile Holdings ( OTC: ), is raising $750 million from five new and existing investors in a funding round that values ​​the brand at $13 billion.

Zeekr, which sells two pure electric car models, said in a statement on Monday that proceeds from the funding round will be used to support technological research and the global expansion of the Zeekr brand.

Investors include Amnon Shashua, CEO and majority-owned founder of autonomous driving technology company Mobileye Global Intel Corp (NASDAQ: ) – and Guangzhou City Municipal Government’s investment arm Yuexiu Industrial Fund, both new investors in the company.

Backers of the funding round also include Chinese battery maker CATL, which is already among Zeekr’s backers.

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