Geely has completely acquired Zeekr (1 photo)

Geely Auto has completed the privatization of Zeekr, increasing its stake from 65.7% to 100%. The deal is valued at approximately $2.4 billion, with Geely expecting to offset the costs through subsequent cost optimization. According to CarNewsChina, one of the results of the transaction was Zeekr's delisting from the New York Stock Exchange, making the company now the shortest-listed Chinese company.



Zeekr will be fully integrated into Geely. According to the official statement, this will allow the company to save money by eliminating duplication in research and development and unifying its architecture strategies. Geely estimates that cost reductions in certain areas will reach 20%. Furthermore, the group will be able to combine Zeekr's experience in Europe and the US with Volvo's expertise to expand its presence in export markets.

Zeekr itself will be able to double its investments in its own promising technology projects. Zeekr's shares were only listed on the New York Stock Exchange last May. The company's assets, which recently also include Lynk&Co, will now be considered part of Geely, which is traded on the Hong Kong Stock Exchange.