Zeekr Fully Comes Under Geely Control and Exits the New York Stock Exchange

Geely Holding Group continues to streamline its asset structure to simplify management and reduce costs. The company has officially completed the full takeover of its premium EV subsidiary Zeekr, removing it from public trading and delisting it from the New York Stock Exchange.

This move finalizes Geely’s strategy to bring Zeekr entirely back under direct control, following earlier internal restructuring involving Lynk & Co.

From Ambitious IPO to Full Buyout

Geely launched Zeekr in 2021 as a fully owned subsidiary under its official name Zeekr Intelligent Technology Holding Limited. As the brand gained traction, Geely listed Zeekr on the NYSE in May 2024, while retaining majority ownership.

Key IPO details:

• Around one-third of Zeekr shares were offered to public investors

• The listing raised approximately $441 million

• Geely maintained a controlling stake

Just one year later, Geely began buying back Zeekr shares from the market. By the end of 2025, only 10–15% of shares remained in free float. These shares are now being withdrawn as Geely has formally requested Zeekr’s delisting from the NYSE.

Minority shareholders will receive either:

• Cash compensation, or

• An equivalent number of Geely Automobile Holdings shares, which trade on the Hong Kong Stock Exchange

Lynk & Co Transfer and Centralized Development

In 2024, Geely separated Lynk & Co from Volvo Cars and transferred the brand under Zeekr’s management. The goal was to:

• Centralize vehicle development

• Share platforms and R&D resources

• Minimize internal competition

With Zeekr now fully absorbed by Geely, all strategic decisions and accountability shift directly to Geely’s top management.

Sales Performance Raises Red Flags

According to data from the China Association of Automobile Manufacturers (CAAM) for January–November 2025:

• Lynk & Co: 289,390 vehicles sold in China (+20.6% YoY)

• Zeekr: 175,674 vehicles sold (–9.9% YoY)

These results indicate that Geely is dissatisfied with Zeekr’s current momentum and sees the need for more direct oversight.

Efficiency Gap: Zeekr vs Xiaomi

In June 2025, Zeekr produced its 500,000th vehicle, reaching the milestone 44 months after launching its first model.

For comparison:

• Xiaomi reached 500,000 vehicles in just 20 months

• Xiaomi currently sells two models, while Zeekr offers eight

This highlights a significant efficiency gap, which Geely now aims to close through tighter control and streamlined decision-making.

Why Geely Took Zeekr Private

According to Geely, reclaiming Zeekr shares is part of a broader plan to:

• Optimize operating costs

• Respond to intensifying EV competition

• Reduce exposure to geopolitical risks

Exiting the NYSE frees Zeekr from U.S. regulatory pressure and what Geely describes as inadequate investor valuation, arguing that Zeekr shares were undervalued on the American market.

As a 100% Geely-owned subsidiary, Zeekr will now have:

• Full access to Geely’s financial resources

• Faster strategic execution

• Greater flexibility in product and technology development

Geely believes this structure will allow Zeekr to grow faster, more efficiently, and with a clearer long-term direction.