Geely Seeks to Take Zeekr Private in $6.5B Deal

Geely, which currently owns 65.7% of the Chinese premium electric vehicle brand Zeekr, has made a non-binding offer to acquire all remaining shares and take Zeekr private, less than a year after its US IPO. The proposed deal values Zeekr at $6.5 billion and offers shareholders either cash or Geely shares at a 13.6% premium over Zeekr’s last traded price. This move is part of Geely’s strategy to consolidate assets, eliminate redundancies, and enhance competitiveness amid increasing global market uncertainties and rising tariffs from Europe and the US. The privatization reflects a broader trend in China’s auto industry, where companies are responding to pressures such as overcapacity and price stabilization by focusing on efficiency and integration. Geely aims to unify Zeekr under its control, streamline operations, and position the brand more flexibly against geopolitical challenges. If completed, the transaction is intended to create long-term value and strengthen Geely’s global ambitions in the premium EV sector.