Geely’s Zeekr electric vehicle brand (earlier post) has raised $500 million in Pre-A funding from five strategic partners: Intel Capital; CATL; Bilibili; Cathay Fortune Group; and Boyu Capital. Intel is the leading investor amongst all five partners. The Zeekr brand is owned jointly by Geely Automobile Holding Ltd. and Zhejiang Geely Holding Group (Geely Holding).
The strategic investors are expected to receive an aggregate shareholding equivalent to around 5.6% of the enlarged issued share capital of Zeekr.
Reflecting the strategic growth priorities of Zeekr, the new investors are also expected to contribute respective expertise in intelligent connectivity and battery technologies, new generation consumers, and raw materials as Zeekr meets rising demand in China and other key markets for next-generation premium electric mobility solutions.
The brand has already seen a strong consumer demand for its inaugural 001 model, for which the 2021 order book has been sold out. Zeekr is now poised to expand more rapidly together with new partner investors.
Based on Geely Holding’s global electric architecture SEA, the 001 has a top speed of more than 200 km/h (124 mph) with a 0-100 km/h time of 3.8 seconds. The eMotors used on the front and rear axles offer maximum output of 400 kW, creating more than 700 N·m of torque that can be equally spread to all four corners of the 001 in dynamic environments to guarantee traction and stability. At launch, two battery packs will be offered to consumers; 86 kWh and 100 kWh. All batteries have been through extensive testing to ensure safety in event of crash.
Intel Capital, part of Intel, is a global investor in emerging technologies. CATL is the global leader in electric battery development and production. Bilibili is a pioneer of online entertainment and video-content distribution that is most popular among generation Zs in China. Cathay Fortune Group invests, develops, and operates assets in new energy sector, and is a leading global producer of cobalt and copper—key metals used in production of electric battery. Boyu Capital is a leading Greater China-focused alternative asset management firm.
The completion of the Zeekr funding round coincides with an accelerating electrification transition across the Geely Holding Group, in which several Geely portfolio brands are exploring fundraising options to support zero-emission growth and new mobility technologies.