BEIJING — Zeekr, the premium electrical car model from Geely, mentioned it raised $500 million in its first exterior funding from buyers together with Intel, battery maker CATL and on-line leisure agency Bilibili.
Zeekr mentioned in an announcement that buyers would collectively maintain a 5.6 % stake within the firm, valuing it at round $9 billion.
The corporate makes the Zeekr 001 mannequin within the japanese metropolis of Ningbo and is predicted to start out delivering the vehicles later this 12 months. It goals to promote 650,000 autos a 12 months by 2025.
Traders additionally included Cathy Fortune Company, which invests in mining corporations, and private-equity agency Boyu Capital that moreover signed long-term funding partnerships with Zeekr, the automaker mentioned within the assertion.
Zeekr is collectively owned by Geely Car and its dad or mum Zhejiang Geely Holding Group.
The businesses are anticipated to contribute experience in clever connectivity, batteries, younger client markets and uncooked supplies, it mentioned.
Automotive corporations globally are working with extra tech corporations, battery makers and mining corporations to develop future merchandise and safe provide of elements amid a shift in direction of electrical autos.
Zhejiang Geely Holding Group, the proprietor of Volvo Automobiles and a 9.7 % stake in Daimler, and Geely Car launched the Zeekr in March this 12 months to compete with EV corporations together with Tesla and Nio.
They collectively invested 2 billion yuan ($308.4 million) into the model earlier.