Zhejiang Geely Holding Group (Geely Holding), China’s largest private-owned automotive group, welcomed a US$750-million Series A fundraising at ZEEKR Intelligent Technology, the premium pure play electric mobility brand within the Geely Holding portfolio.

On completion of the investment by five investors—Prof. Amnon Shashua, Contemporary Amperex Technology Ltd (CATL), Yuexiu Industrial Fund, Tongshang Fund and Xin’an Intelligent Manufacturing Fund—Zeekr will be valued at US$$13 billion.

Zeekr will use the funds raised in Series-A 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 15 April 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 more than 80,000 units to date. In January 2023, Zeekr started shipment of its Zeekr 009 full-size EV MPV to users.