Geely's EV brand Zeekr raises $500 million in first external funding

Beijing: Zeekr, the electric vehicle brand by Geely, has raised $500 million in its first external funding round that saw the participation of investors Intel Capital, battery maker CATL and online entertainment firm Bilibili.
Zeekr, which targets young and trendy customers, is jointly owned by Geely Automobile and its parent Zhejiang Geely Holding Group.
We’ve distilled the 15-page document into a five-minute read. Read Now Zhejiang Geely Holding Group, the owner of Volvo Cars and a 9.7% stake in Daimler AG, and Geely Automobile launched the Zeekr in March this year to compete with EV companies including Tesla Inc. and Nio Inc. They jointly invested 2 billion yuan into the brand earlier.