Geely's EV brand Zeekr raises $500 million in first external fundraising campaign - NewsBreak

Zeekr, the EV brand of Chinese multinational automotive enterprise Geely, headquartered in Hangzhou, Zhejiang, had issued a statement on Friday saying that the e-vehicle label, privately held by Chinese billionaire businessman Li Shufu, had raised a stark upsum of $500 million at its first external fundraising campaign that involved heavy-weight investors like of Intel Capital, online entertainment firm Bilibili alongside battery maker CATL among others, pointing stiffer competition ahead for a waft of western e-vehicle makers wrangling over a larger bite in China's automotive market, the largest around the world.