Another strategic deployment of Geely New Energy behind the $750 million Series A financing.

  On February 13th, Extreme Krypton Intelligent Technology Co., Ltd. (hereinafter referred to as "Extreme Krypton") announced the completion of the Series A financing of 750 million US dollars, with a post-investment valuation of 13 billion US dollars (equivalent to nearly 90 billion yuan). In December last year, Krypton submitted a "draft registration statement for possible initial public offering" to the US Securities and Exchange Commission (SEC). If successfully listed in the United States, Krypton will become China’s third largest vehicle manufacturer in the United States.

  It is reported that this round of financing is funded by Amnon Shashua, founder and CEO of Mobileye, a well-known autonomous driving technology company.Yuexiu industryFive ecological partners, namely, Trade Fund and Quzhou Xin An Zhi Creation Fund, participated in the investment. The funds raised this time will be mainly used for research and development of krypton products and technologies, global business development and user experience improvement.

  This round of investors is defined as eco-partners. This is a strategic investment based on industrial integration, focusing on industrial resource cooperation and long-term layout. The five eco-partners have rich industrial resources in their respective fields. Extreme Krypton and Mobileye have already joined forces in the field of intelligent driving, and have already participated in the Pre-A round of financing. This is an additional investment. After this round of financing, Mobileye and the future will further deepen cooperation with Krypton. Yuexiu Industrial Fund, Trading Fund and Quzhou Xin An Zhi Fund are also rich.The resources of the automobile industry chain will help Krypton to further innovate and develop in the upstream and downstream of the industry chain.

  Unique patternCreate a "dark horse" of capital

  Back to April 15th, 2021, the Hangzhou Bay Krypton Smart Factory was crowded that night, and people from all walks of life gathered here to welcome the birth of a new brand-Krypton.

  This is not an ordinary conference. It completely broke the old rule of "brand release-product preheating-product pre-sale-listing" for traditional car companies, and directly completed the process of brand release, first product release, product price announcement and product official listing at one time, which completely ignited the enthusiasm on the spot.

  "It is really difficult for elephants to turn around, and the historical burden is also very heavy. Our transformation has both advantages and disadvantages, and we can make use of them.With our resources and traditional manufacturing experience, we can walk out of the third track. "When the Krypton brand was founded, Krypton CEO An Conghui said. And this unique conference also made it clear that Krypton created China.The third track for cars to break through.

  When the brand Krypton was released, it was at a time when the new domestic car-making forces had a good momentum. How to achieve overtaking in corners in the future became a top priority. The Krypton model is different from the traditional car-making model and the new power model. The uniqueness of this model is that it is more thorough than the general traditional car enterprises, operates in the way of Internet technology companies, has pure user thinking and a brand-new business model, and is more flexible and fast in responding to market changes and user needs; Compared with the new force of making cars, Kyo, born out of traditional car companies, has greater advantages in technical structure, quality assurance and supply chain system management.

  For example, relying on the global layout in the fields of intelligent cockpit, intelligent driving, intelligent network connection, vehicle chip, etc., Krypton can quickly build a full-stack self-developed pure electric intelligent technology ecosystem, and its products have obvious advantages in intelligence, handling performance, electricity and safety.

  With the exclusive "krypton model", the listing of krypton successfully stood out in the red sea market of automobiles. With only one model, Krypton delivered about 72,000 vehicles in 2022, and continued to win the sales champion of China brand pure electric vehicles with a price of over 300,000 yuan. In addition, Extreme Krypton also easily raised the price of its own brand to more than 300,000 yuan, of which the average order amount of Extreme Krypton 001 exceeded 336,000 yuan, and the average order amount of the second production car Extreme Krypton 009 also reached 527,000 yuan.

  The success of krypton seems to be "hanging up", but in fact it is a thick accumulation. "The birth of krypton is not a whim. We have been preparing for it for five years." An Conghui said at the brand launch conference on April 15, 2021 that Krypton was "not futures but spot" and had already started planning as early as the development of the vast SEA architecture.

  The advent of SEA’s vast architecture is a milestone for Geely to move towards smart pure electricity, which has driven the transformation, upgrading and open collaboration of the smart electric vehicle industry. SEA’s vast architecture was launched in 2016, which lasted for 5 years and was developed globally. At present, it has invested nearly 30 billion yuan. It is a global efficient smart electric vehicle solution with the world’s leading bandwidth, which can makeThe cycle is shortened by 50%, which can quickly respond to user needs. The first car born of this architecture is the extremely popular Krypton 001.

  Based on the vast architecture of SEA, krypton products can quickly iterate out new products and continuously gain new market share. In 2023, Extreme Krypton plans to launch two brand-new products, one of which is the brand’s first SUV Extreme Krypton X. Four models will occupy different market segments and fully impact the goal of doubling delivery in 2023.

  The extremely rapid development of krypton has also been sought after by many capitals. Four months after the announcement of the establishment of the brand, on August 27th, 2021, Krypton announced the completion of the $500 million Pre A round of financing. The participants includedCapital, Contemporary Amperex Technology Co., Limited,Five ecological partners, including Hongshang Group and Boyu Investment. October 31, 2022,It is suggested to split Zeekr Intelligent Technology Holding Limited and list it independently. In December of that year, Krypton submitted a "draft registration statement for possible initial public offering" to the US Securities and Exchange Commission (SEC).

  After this A round of financing, Krypton will also accelerate the pace of listing in the United States and further "go global" to become a truly global enterprise. Extreme krypton will take the lead in landing the European strategy this year. By 2025, the sales volume of krypton will reach 650,000, ranking the top three in the world in the market share of high-end electric vehicles.

  The "vanguard" of Geely’s transformation

  After ten years of grinding a sword, Krypton is the "vanguard" of Geely Automobile’s intelligent electrification transformation. The success of this A round of financing also fully proves Geely Automobile’s determination and strength in all aspects.

  In recent years, the sales of new energy vehicles have blown out, and Geely Automobile has also fully grasped the transition window period. According to the data released by Geely Holding Group, in 2022, the company’s total sales exceeded 2.3 million vehicles, up 4.3% year-on-year, of which the sales of new energy vehicles exceeded 640,000 vehicles, up 100.3% year-on-year, and the new energy penetration rate reached 27.9%.

  In terms of the product layout of new energy vehicles, at present, Geely has owned many new energy vehicle brands such as Geometry, Link, Krypton, Volvo, Polar Star and Lotus, covering the market range of 100,000 yuan to 1 million yuan. Recently, the listing of Geely Panda mini also announced that Geely Automobile has entered the micro-electric vehicle market, further covering the new energy market below 100,000 yuan.

  In the past year, Geely’sIt has been successfully listed, and Krypton and Lotus are also in the process of listing. All of the above-mentioned companies that have landed in the capital market belong to Geely’s electrification and intelligence sectors.

  It is predicted by the Federation that the annual sales volume of new energy passenger cars will be 6.5 million in 2022, and it may exceed 8.5 million in 2023. Under the background of the further expansion of the domestic new energy vehicle market, in 2023, the pace of Geely Automobile’s transformation to new energy will be further accelerated. In 2023, the total sales target of Geely Automobile is 1.65 million vehicles, and it will strive to achieve three times of growth of new energy products: the overall sales of new energy will double, exceeding 600,000 vehicles; Raytheon hybrid sales and high-end pure electrode krypton sales also doubled simultaneously.

  2022 is a year of new energy vehicles. The rise of self-owned brand sales also fully proves that "those who win the new energy market win the world", and there is no doubt that Geely Automobile is a "new star" rising in Ran Ran in the new energy automobile industry.

  Gui Shengyue, CEO of Geely Automobile Holdings Co., Ltd. (HK.0175) said: "With the success of the A round of financing as an opportunity, Geely Automobile will transform into electrification, intelligence and globalization more firmly and quickly, continuously increase its market share, and fully enter a new era of intelligent electric Geely’s development."