Geely Automobile Holdings Limited has proposed acquiring all remaining shares of Zeekr Group, its premium electric vehicle subsidiary. This move would bring Zeekr under full ownership and lead to its delisting from the New York Stock Exchange. Geely currently holds approximately 65.7% of Zeekr and aims to purchase the outstanding shares at a 13.6% premium over the latest closing price.
The acquisition reflects Geely’s ongoing strategy to consolidate EV operations and enhance efficiency across its automotive brands. The company cited the need to optimise internal resources, reduce operational overlap, and strengthen its competitive position in the global EV sector. Chairman Li Shufu emphasised that the decision aligns with Geely’s long-term vision of integrating technological development, supply chains, and international market strategies under a unified structure.
Zeekr was established in 2021 as a high-end electric brand targeting global markets, focusing on software-defined vehicles and advanced driver assistance systems. It made headlines in 2023 by becoming the fastest Chinese EV company to go public in the United States. However, its stock has experienced volatility amid shifting investor sentiment and broader market pressures on tech and EV companies. Despite these challenges, the brand has continued to expand its model lineup and invest heavily in solid-state battery technology, autonomous driving, and global distribution.
In market trading, Zeekr’s shares jumped nearly 11.51% following the acquisition announcement, indicating a positive reception from investors. Geely’s move comes as the Chinese automaker intensifies efforts to position itself among leading global EV manufacturers. The company also manages brand restructuring initiatives, including Zeekr gaining majority control of Lynk & Co in a separate realignment last year.
Analysts suggest that full ownership of Zeekr could allow Geely to integrate R&D, procurement, and production processes more effectively across its EV brands, leading to faster product development and improved cost control. However, some caution that delisting from the NYSE may limit Zeekr’s visibility and access to international capital markets, potentially slowing expansion plans in regions such as Europe and Southeast Asia.
Geely plans to share more details on the proposed transaction and its broader performance strategy during its investor briefing scheduled for May 15.
