Geely’s EV Brand Zeekr Raises $750 Million At $13 Billion Valuation

Zeekr, the premium electric mobility brand fromChinese automotive giant Geely Holding Group, has raised $750 million from external investors.

On completion of the investment by five investors – Prof. Amnon Shashua, the cofounder and CEO of autonomous vehicle technology firm Mobileye, Chinese EV battery maker Contemporary Amperex Technology Ltd (CATL), Yuexiu Industrial Fund, Tongshang Fund and Xin’an Intelligent Manufacturing Fund – Zeekr will be valued at USD $13 billion USD.

“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 Daniel Donghui Li, CEO of Hangzhou-based Geely Holding Group, in a statement.

Zeekr will use the fresh capital to accelerate global development of its propriety technologies whilst also aiming to expand its global market footprint by entering the European market in 2023.

Zeekr was established on April 15th, 2021 as a global luxury EV brand with R&D capacity in Gothenburg, Sweden and Hangzhou, China.

Zeekr began deliveries of its flagship Zeekr 001 in October 2021, delivering over 80,000 units to date. In January 2023, Zeekr started shipment of its Zeekr 009 full-size EV MPV to users.

Blagojce Krivevski

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