Zeekr to Merge with Geely, Becoming a Wholly-Owned Subsidiary

Zeekr Intelligent Technology Holding Limited, a leading premium new energy vehicle group, has entered into a merger agreement with Geely Automobile Holdings Limited. This agreement will see Zeekr becoming a wholly-owned subsidiary of Geely, a move that underscores the dynamic shifts within the electric vehicle industry. The merger, expected to close in the fourth quarter of 2025, will result in Zeekr transitioning into a privately held company, with its shares no longer listed on the New York Stock Exchange.

Under the terms of the merger, Zeekr shareholders will have the option to receive either cash or newly issued Geely shares for their Zeekr shares, with the cash option representing a significant premium over recent trading prices. This strategic acquisition by Geely not only consolidates its position in the new energy vehicle market but also highlights the growing trend of consolidation in the sector as companies seek to leverage synergies and scale up operations to meet the increasing demand for electric vehicles.

The merger is subject to customary closing conditions, including shareholder approvals from both companies. Geely has committed to voting in favor of the merger with the shares it currently holds, which represent a majority of Zeekr's voting rights. This deal is a testament to the rapid evolution of the electric vehicle industry and the strategic moves companies are making to secure their future in a highly competitive market.