Sun. Mar 26th, 2023

Pictured here’s a Zeekr electrical automobile charging station in Dongguan, Guangdong province of China, on Nov. 14, 2022.

Vcg | Visible China Group | Getty Pictures

BEIJING — Geely-backed electrical automobile model Zeekr mentioned Monday it is now valued at $13 billion after a $750 million increase from Chinese language battery big CATL and others.

Zeekr isn’t but publicly listed, however Geely mentioned in December the model filed confidentially for an preliminary public providing within the U.S.

The brand new $13 billion valuation makes Zeekr value extra on paper than Xpeng, which had a market worth of $8.01 billion, in keeping with Refinitiv Eikon information accessed Monday.

Nio and Li Auto are value rather more, with market valuations of $17.22 billion and $25.22 billion, respectively, the information confirmed.

Zeekr mentioned its new buyers embody Amnon Shashua — co-founder and CEO of self-driving tech firm Mobileye. The corporate didn’t instantly reply to a request for remark.

Modern Amperex Expertise (CATL) and three state-affiliated funds additionally participated within the newest funding spherical, in keeping with a press launch.

Zeekr mentioned it intends to make use of the funds for tech improvement — and plans to enter the European market this 12 months.

Geely established the Zeekr electrical automobile model in 2021. The corporate started delivering its Zeekr 001 coupe that October, and claims to have delivered greater than 80,000 models since.

The Zeekr 001 is priced between 300,000 yuan ($43,915) and 386,000 yuan. For tough comparability, Tesla’s Mannequin Y begins at 261,900 yuan.

The a lot bigger and boxy multi-purpose automobile Zeekr 009 started deliveries in January, the corporate mentioned. Costs begin at 499,000 yuan.

In 2010, China-based Geely acquired Swedish auto model Volvo, which beforehand belonged to Ford Motor.

By gross sales in China, Geely was the fourth-largest producer of recent vitality automobile passenger vehicles in 2022, behind Tesla China, which was in third place, in keeping with the China Passenger Automobile Affiliation.

Learn extra about electrical autos from CNBC Professional

By Admin

Leave a Reply