Monitoring Desk
ISLAMABAD/SHANGHAI: Zeekr, the EV brand of China’s Geely Automobile Holdings, is increasing 750 million dollars from five new and existing investors in the funding round that value the brand at 13 billion dollars.
Zeekr, which sells two purely electric cars model, said in a statement on Monday that the proceeds from the funding round could be used to support technology research and the international expansion of the Zeekr brand.
EV brand
The investors include Amnon Shashua, CEO and the founder of autonomous driving technology company Mobileye international, majority owned by Intel Corp, and the Guangzhou city municipal/local government’s investment arm Yuexiu Industrial Fund, both new investors in the company.
Supporters of the funding round include Chinese battery maker CATL, already among Zeekr’s backers.
