Shanghai (Gasgoo)- Late on December 22, Geely Automobile Holdings Limited announced that it has completed the privatization and merger of Zeekr, bringing the premium electric vehicle brand fully under its control. Following the transaction, Zeekr has become a wholly owned subsidiary of Geely Automobile and has officially delisted from the New York Stock Exchange.
The move signals a new phase in Geely's consolidation strategy in the premium intelligent electric vehicle segment, as the automaker seeks to better align resources and sharpen strategic coordination across its high-end EV operations.
According to the announcement, all conditions required to complete the privatization had been satisfied. Geely acquired all outstanding shares and American depositary shares of Zeekr through the transaction, after which the company was merged and continues to operate as the surviving entity. Zeekr's financial results will remain fully consolidated into Geely's financial statements, while interests previously attributed to non-controlling shareholders will be reclassified and eliminated.
This latest step forms part of a broader restructuring effort underway at Geely Automobile.
The groundwork for this consolidation was laid earlier. In December 2024, guided by the strategic framework outlined in the “Tāizhōu Declaration,” Zeekr and Lynk & Co announced a strategic integration and adopted a new group identity: Zeekr Technology Group, encompassing both the Zeekr and Lynk & Co brands. On February 14 this year, Zeekr Intelligent Technology Holding and Geely Automobile separately disclosed that Zeekr had completed the acquisition and capital injection into Lynk & Co, resulting in Zeekr a 51% stake and Geely Automobile retaining 49%, with Lynk & Co becoming a non-wholly owned subsidiary of Zeekr. On May 7, Geely Automobile revealed plans to acquire all issued shares of Zeekr Intelligent Technology, a process that culminated in the completed privatization on December 22.
Geely said the completion of the integration marks a new starting point. The company plans to leverage stronger strategic synergies and scale advantages while stepping up investment in core areas such as intelligent technologies and electrification, with the goal of delivering sustainable long-term value for shareholders and accelerating its transformation into a technology-driven global automaker.
The privatization and full consolidation of Zeekr underscores Geely's intent to tighten capital control over its flagship EV brand, while laying the foundation for a more unified and efficient global operating model in the increasingly competitive new energy vehicle market. How effectively Geely can unlock synergies between Zeekr and Lynk & Co through deeper integration will be closely watched in the months ahead.
