ZEEKR Intelligent Technology, the premium mobility solution brand, has signed investment partnerships with leading strategic investors including Intel Capital, CATL, Bilibili, Cathay Fortune Group, and Boyu Capital to support the continued expansion of the brand jointly owned by Geely Automobile Holding Ltd. (HK.0175) and Zhejiang Geely Holding Group (Geely Holding). Intel is the leading investor amongst all five partners.
Following an evaluation of external financing solutions to accelerate ZEEKR’s future sustainable development, the five strategic partners have agreed to invest in a Pre-A funding that will raise a total of USD 500 million. 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 mobility solutions.
The successful completion of first external funding round represents a major vote of confidence as ZEEKR establish an ecosystem of industrial partnerships to build around safety, sustainability, user experience, and deliver new mobility services.The brand has already seen a strong consumer demand for inaugural 001 model, for which 2021 order book has been sold out. ZEEKR is now poised to expand more rapidly together with new partner investors.
Of the investors, 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 amongst generation Z’s in China. Cathay Fortune Group invests, develops, and operates assets in new energy sector, and is a leading global producer of cobalt and copper, which are key metals used in production of electric battery. Boyu Capital is a leading Greater China-focused alternative asset management firm.
Together, these partners will form part of the new ZEEKR ecosystem that will transform the new electric brand into a complete mobility solution provider for decades to come.
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.
Source: Zhejiang Geely Holding Group, http://zgh.com/media-center/news/2021-08-27/?lang=en