China's Geely raises $750m for Zeekr EV brand

Tesla rival to put funds toward global expansion as it eyes doubling sales

Visitors check a Zeekr 001, a model from Geely's electric vehicle brand Zeekr, at its factory in the city of Ningbo, China. With its latest funding round, the brand has increased its value to $13 billion. © Reuters

CK TAN, Nikkei staff writer

February 13, 2023 16:18 JST

SHANGHAI -- The EV brand of Chinese automaker Geely on Monday said it has raised $750 million in a new funding round that boosts its value to $13 billion, with the world's biggest lithium ion battery maker among the investors.

Zeekr, a rival to Tesla and Nio, currently has two models, the Zeekr 001 and Zeekr 009, with a third, the Zeekr X, set for launch later this year.