Geely to Take Zeekr Private After 2024 NYSE Debut: Strategic Shift, Not a Rescue Mission

In the fast-moving world of electric vehicles, bold corporate decisions can arrive just as swiftly as technological innovations. Geely Holding Group, the Chinese auto giant behind several successful global brands, has made a surprising but strategic move—announcing plans to take Zeekr private, barely a year after the EV brand's 2024 IPO on the New York Stock Exchange (NYSE).

Geely, which already owns a 62.8% stake in Zeekr, has signed a formal merger agreement through its listed subsidiary, Geely Automobile, to acquire the remaining shares and make Zeekr a wholly-owned subsidiary. Once completed, Zeekr will be delisted from the NYSE, ending its brief run as a publicly traded company.

💰 What’s in It for Zeekr Shareholders?

Geely is offering two compensation options:

$26.87 in cash per American Depositary Share (ADS), or

12.3 Geely Auto shares (delivered as Geely ADSs)

For holders of Zeekr’s ordinary shares, the offer stands at:

$2.687 in cash, or

1.23 Geely Auto shares, valued at HK$17.15 per share — roughly a 2.4% premium over pre-merger prices.

🧠 Why the Sudden U-Turn?

While some may speculate that this move hints at financial distress, the data tells a different story. Zeekr is thriving. In Q1 2025, Zeekr Technology (which includes Zeekr and Lynk & Co) delivered 114,011 vehicles, up 21.1% YoY. The Zeekr brand alone accounted for 41,403 units, a jump of 25.2% YoY.

This isn’t a bailout—it’s a strategic realignment. Geely aims to:

Consolidate R&D across brands (already reducing costs by 15%)

Accelerate development of intelligent EV platforms

Focus Zeekr’s efforts on long-term innovation without Wall Street pressure

Taking Zeekr private allows for deeper integration with Geely’s broader EV strategy, which also includes Volvo, Polestar, and Lynk & Co. It also liberates Zeekr from the quarterly reporting cycle, enabling leadership to think beyond short-term profitability and push forward with autonomous driving and next-gen EV tech.

📅 Deal Timeline

The acquisition is expected to close before the end of 2025, marking a swift but calculated shift in Zeekr’s journey—from a hot IPO to a key strategic piece in Geely’s electric future.