Geely’s EV brand Zeekr raises $750 million in fresh funding round

 Supporters of the funding round also include Chinese battery maker CATL, already among Zeekr's backers.
Supporters of the funding round also include Chinese battery maker CATL, already among Zeekr’s backers.

Zeekr, the electric car brand of China’s Geely Automobile Holdings, 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 purely electric car models, said in a statement on Monday that proceeds from the funding round will be used to support technology research and the global expansion of the Zeekr brand.

The investors include Amnon Shashua, CEO and founder of autonomous driving technology company Mobileye Global – majority owned by Intel Corp – and the Guangzhou city municipal government’s investment arm Yuexiu Industrial Fund, both new investors in the company.

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

Also Read:

However, limited PNG availability and its soaring price are making it difficult for them to go greener and new particulate emission standards are being overlooked by industries firing biomass, states CSE.


Follow and connect with us on , Facebook, Linkedin, Youtube

Go to Source