Jikrypton received 5.1 billion yuan in A-round financing: power system failures occur frequently, which deserves the attention of An Conghui
On February 13, Jikr Intelligent Technology Co., Ltd. (hereinfollowing referred to as “Jikr”) announced the completion of Series A financing of US$750 million, with a post-investment valuation of US$13 billion. This round of financing was led by Mobileye founder and CEO Amnon Shashua,CATLYuexiu Industrial Fund, China Commerce Fund and Quzhou Xin’an Intelligent Manufacturing Fund participated in the investment.
On the same day, Geely Automobile issued an announcement saying, “The board of directors is pleased to announce that on February 12, 2023, Jikrypton entered into a share purchase agreement with five investors, and Jikrypton will issue and distribute a total of approximately 139 million A shares to investors. Series of preferred shares, with a total consideration of US$750 million (equivalent to approximately RMB 5.091 billion).
According to the announcement, these 139,375,669 Series A preferred shares will account for approximately 6.15% (calculated on a converted basis) and approximately 5.77% (calculated on a fully diluted and converted basis) of the enlarged issued share capital of Jikrypton. calculate). After the completion of the delivery, Geely Automobile’s equity in Jikr will be approximately 54.73% (calculated on a converted basis) and approximately 51.33% (calculated on a fully diluted and converted basis).
Prior to this, Geely Automobile held approximately 58.31% (calculated on a converted basis) and approximately 54.47% (calculated on a fully diluted and converted basis) of Jikr. Geely Automobile stated in the prospectus that Jikr will remain an indirect non-wholly owned subsidiary of the company and its financial performance will continue to be incorporated into Geely Automobile’s consolidated financial statements.
According to the introduction, the funds raised by Jikr will be mainly used for Jikr product and technology research and development, global business development and user experience improvement. The five ecological partners have rich industrial resources in their respective fields, especially in intelligent driving,Power BatteryInnovative materials, high-end equipment manufacturing and other aspects have core competitiveness.
Jikrypton said that Ningde Times is Jikrypton’s long-term strategic partner, and it will invest more in this round to further deepen the cooperation between the two parties. Yuexiu Industrial Fund, Commerce Fund, and Quzhou Xin’an Intelligent Manufacturing Fund will assist Jikrypton to integrate its rich industrial resources, and help Jikrypton to further innovate and develop upstream and downstream of the industrial chain.
An Conghui, CEO of Jikrypton, said, “I am very pleased to have the support of leading investors in various industries. ‘Co-creation and co-investment’ is the business philosophy of Jikrypton. The innovative exploration in the field of smart pure electricity creates the ultimate travel experience for users.”
According to Beido Finance, Jikrypton is a high-end smart electric brand under Geely Holding Group. In April 2021, the Jikr brand was released to the public and announced its first product – Jikr 001. On November 1, 2022, Jikr released its second product – pure electric MPV Jikr 009.
According to Tianyancha information, the full name of Jikrypton is “Zhejiang Jikrypton Intelligent Technology Co., Ltd.”, which was established in 2021 and has invested in 10 companies. At present, the registered capital of the company is 500 million yuan, the legal representative is An Conghui, and the wholly-owned shareholder is ZEEKR TECHNOLOGY LIMITED.
Public data shows that Jikr will deliver 71,500 new cars in 2022. January 2022, a single month for Extreme KryptonSalesIt was 3116 units, a year-on-year decrease of regarding 12%. As of January 31, 2023, the cumulative delivery volume of the Jikr brand has exceeded 80,000 units.
It is worth mentioning that the word-of-mouth of Jikrypton has diverged. According to the top 30 car model complaints list in January 2023 released by Chezhi.com, the ZEEKR 001 (i.e., 001) model of Jikr ranked first in the number of complaints. Among them, the number of complaints in January 2023 reached 355 times, a typical Complaints include “dishonored sales commitments” and “concealment of relevant information”.
Previously, some car owners reported that there was a power system failure problem in the Jikr official APP. Jikr Automobile stated in the official APP that the power system failure is most likely due to the impact of low temperature drop, and said, “After encountering this problem, you can lock the car and sleep for a while to recover. As long as the power is successfully turned on, it will not affect normal driving followingwards.” .
On February 11, 2023, regarding the power system problems reported by some users, Jikr Auto responded that the previous power system failures reported on the market were checked and confirmed. It was the self-test of each module during system initialization, and there was a certain probability that the system would occur. The deviation in the timing of self-checking and verification is misjudged as not meeting the power system start-up operation conditions.
Original title: Jikr received 5.1 billion yuan in Series A financing: power system failures occur frequently, which deserves the attention of An Conghui
