Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Geely Holding Group is set to merge its premium electric vehicle brand, Zeekr, with its smart car marque, Lynk & Co, in a strategic move aimed at streamlining operations and reducing costs. According to reports, Zeekr will acquire a controlling 51% stake in Lynk & Co, with the remaining shares held by Geely and Volvo. This integration is part of Geely's broader strategy to eliminate duplication and enhance efficiency amid increasing competition in the electric vehicle market. Following the announcement, Zeekr's stock reportedly surged over 12% in pre-market trading. Both brands will continue to operate under their respective names, with Zeekr focusing on mid to large vehicles, including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
Yesterday, Geely announced a conditional agreement for Zeekr to acquire a 20% stake and 30% stake in Lynk & Co from Geely Holdings and Volvo Investments respectively. This move will see Zeekr jointly taking control with a 50% stake in Lynk & Co alongside Ningbo Geely. #China https://t.co/2hniUkY6QM
China’s @GeelyGroup announced yesterday it supports its EV unit @ZeekrGlobal to own a majority stake in sister brand @LynkCo_Auto by purchasing shares from Geely Holding and @volvocars. Following the transaction, Zeekr will own a 51% stake in Lynk & Co, with the remaining 49%… https://t.co/UOYp5fWukZ
Geely Holding Group will merge its Lynk & Co and Zeekr brands as part of the company's ongoing effort to streamline its core businesses. https://t.co/9a9kWphJLA
