Geely agreed to merge with Zeekr

Geely announced that she signed an agreement on a merger with its premium “daughter” – Zeekr. Geely Automobile will acquire all the remaining Zeekr shares (about 40 percent) for the IV quarter of this year, after which the brand will be excluded from the listing of the New York Stock Exchange (NYSE). The merger with Geely is expected to increase the efficiency of Zeekr and will allow it to focus on development without worrying about investors.

ZEEKR shareholders will offer two options to choose from. They will be able to get money for shares, about $ 2.7 apiece, or replace it with Geely Auto shares. At the same time, 1,23 Geely shares will be given for one security of Zeekr.

The total cost of Zeekr at the time of the transaction is about 6.8 billion dollars. As a result, the share of Geely will increase from the current 62.8 percent to 100.

1381-horsepower flagship crossover Zeekr 9x: the interior and details of Zeekr released more than half a million electric cars in less than four years, Zeekr X will receive a simplified version

The ZEEKR brand was launched in 2021, and IPO was released only in May 2024. In the first quarter of this year, Zeekr Technology, which was recently combined with Lynk & Co, sold more than 114 thousand cars, improving the result of 21.1 percent a year. Only Zeekr sold 41 thousand cars separately – plus 25.2 percent in an annual comparison.

In the spring, ZEEKR owner Russians became available for maintenance and repair: Rolf agreed to access the IT infrastructure and the catalog of spare parts.

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