By Greg Gao

(JW Insights) Feb 14 --Zeekr(极氪), the premium electric car brand of China’s Geely Automobile Holdings, announced its completion of Series A financing of $750 million on February 13. The brand is now valued at $13 billion.

Five new and existing investors participated in this round, including the Founder and CEO of Mobileye, Professor Amnon Shashua, and Chinese battery giant CATL.

The funds raised will be mainly used for Zeekr’s product and technology research and development, global business development and user experience improvement, according to the company.

Geely established the Zeekr electric vehicle brand in 2021. The company began delivering its Zeekr 001 coupe that October and claims to have delivered more than 80,000 units since, setting the fastest delivery record for emerging Chinese EV players. In 2023, Zeekr plans to launch two new models and double the number of new car deliveries.

Zeekr is accelerating the pace of business expansion and plans to enter the European market this year.

Intel’s subsidiary Mobileye joined forces with Zeekr in January last year to develop an electric vehicle with Level 4 self-driving capability that they claim will be launched in 2024.