Chinese automotive giant Geely Automobile Holdings has announced a significant move to privatize its premium electric vehicle (EV) subsidiary, Zeekr Intelligent Technology, just over a year after its debut on the New York Stock Exchange (NYSE). The deal, valued at approximately $6.83 billion, aims to streamline operations and enhance Geely’s competitive edge in the rapidly evolving global EV market.
Under the finalized merger agreement, Geely Auto will acquire all outstanding shares of Zeekr, leading to its delisting from the NYSE. This strategic decision, expected to conclude in Q4 2025, reflects billionaire Li Shufu’s vision to consolidate his sprawling automotive empire and focus on unified EV platforms, as reported by various industry sources.
The privatization comes as Geely seeks to sharpen its focus on the smart EV segment, where Zeekr has positioned itself as a luxury brand with models like the Zeekr 001 gaining traction in China and Europe. By bringing Zeekr under tighter control, Geely aims to integrate resources and accelerate innovation to compete with global players like Tesla and BYD.
Industry analysts view this $2.4 billion buyout as a potential trigger for a consolidation wave among Chinese EV brands. As competition intensifies and market dynamics shift, Geely’s move could set a precedent for other automakers to restructure and prioritize efficiency over public market exposure.
Zeekr, launched as a high-end EV startup under Geely’s umbrella, has been a key part of the company’s push into the premium electric mobility space. Privatization may allow for more agile decision-making and long-term investments without the pressures of quarterly public reporting, potentially benefiting Zeekr’s growth in markets beyond China.
As the EV landscape continues to evolve, Geely’s bold step to take Zeekr private underscores the strategic shifts happening within China’s automotive sector. This development will likely be closely watched by investors and competitors alike as a signal of broader industry trends in electric vehicle innovation.
Alfred Lee
