In a funding round valued at $13 billion, Zeekr, the electric vehicle brand of China's Geely Automobile Holdings (OTC:GELYF), is raising $750 million from five new and existing investors.
The profits from the investment round will be used to support technical research and the global expansion of the Zeekr brand, which produces two all-electric car models.
Amnon Shashua, CEO and founder of the autonomous driving technology company Mobileye Global, which is majority owned by Intel Corp. (NASDAQ:INTC), and Yuexiu Industrial Fund, the investment arm of the Guangzhou city municipal government, are among the investors. Both of these parties are new investors in the business.
In addition to Zeekr's existing sponsors, Chinese battery manufacturer CATL is supporting the investment round.
ZEEKR is a brand-new company that provides solutions and electric mobility technologies to meet the need for high-end electric automobiles around the world. It is dedicated to being a tech company that is user-driven. The company will establish a fresh ecosystem that places users at the centre of innovation-focused operations. With innovations driven by user experiences, the user ecology, and a user shareholding strategy, the brand will dismantle barriers between users and brand through its distinctive business model.
ZEEKR will have its own battery technologies, battery management systems, electric motor technologies, and supply chain support in addition to employing Geely's industry-leading Sustainable Experience Architecture (SEA). ZEEKRvehicles will be able to provide software upgrades for the duration of each vehicle's life through Over the Air Upgrades and provide an unmatched luxury vehicle experience in terms of comfort and performance thanks to the use of SEA technology