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Geely wants to take electric car maker Zeekr private

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Max McDee, 07 May 2025

Zeekr Geely

Just a year after its debut on the New York Stock Exchange, the electric car company Zeekr may become a private entity once again. Its parent company, Geely Automobile Holdings, announced today its proposal to acquire all outstanding shares of Zeekr. According to a filing with the Hong Kong Stock Exchange, Geely offered $25.66 per American Depositary Share (ADS) of Zeekr. This proposed price represents a 13.6 percent premium over Zeekr's closing price from the previous trading day in the United States.

Geely wants to take electric car maker Zeekr private

Geely currently holds a significant 65.7 percent stake in Zeekr. If the deal goes through, Zeekr will become a wholly-owned subsidiary of Geely and will be delisted from the NYSE. Geely stated that it wants to consolidate resources within the larger group, eliminate redundancies, cut costs, and ultimately build greater long-term value for the company.

Zeekr entered the EV market with considerable ambition, launching its first model, the Zeekr 001, in April 2021. This was a big step for Geely in its efforts to compete in the premium EV segment. The company's initial public offering (IPO) on May 10, 2024, positioned it as the fourth Chinese electric car manufacturer to list in the US, following in the footsteps of Nio, Li Auto, and XPeng. Currently, Zeekr's market capitalization stands at $5.7 billion, which is lower than Nio's $8.8 billion.

Geely wants to take electric car maker Zeekr private

Zeekr had already begun integrating with other brands within the Geely ecosystem. On February 14, Zeekr finalized agreements to take a 51 percent stake in Lynk & Co, a brand that was established in 2017 as a joint venture between Geely Auto and Volvo. The remaining 49 percent of Lynk & Co is held by other Geely entities. This earlier integration suggests a broader strategy by Geely to optimize its various automotive ventures.

Geely hopes that taking Zeekr private will create a more cohesive structure with better coordination and alignment within its passenger car business. Following the announcement, Zeekr's stock saw a jump of approximately 10 percent in pre-market trading in the US.

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