February 14th marked a significant milestone for Geely‘s electric vehicle (EV) ambitions. Zeekr (ZK.US) and Geely Automobile (0175.HK) jointly announced the completion of Zeekr‘s acquisition and investment in Lynk & Co.
Key Highlights:
- Ownership Structure: Following the transaction, Zeekr holds a 51% stake in Lynk & Co, while Geely Automobile retains the remaining 49%. Lynk & Co now operates as a non-wholly owned subsidiary of Zeekr.
- Zeekr Technology Group: The completion of this equity transfer also marks the official establishment of Zeekr Technology Group. This new entity will oversee both the Zeekr and Lynk & Co brands.
- Ambitious Sales Targets: Zeekr Technology Group has set an ambitious sales target of 710,000 vehicles for 2025. This includes 320,000 units for the Zeekr brand and 390,000 units for Lynk & Co.
- New Product Lineup: To achieve these goals, the group plans to launch 5 brand-new models in 2025:
- Zeekr: 3 new models, including the Zeekr 007 GT, a full-size flagship SUV, and a large luxury SUV.
- Lynk & Co: 2 new models, including the Lynk & Co 900 and Lynk & Co’s first flagship large six-seater SUV.
Strategic Implications:
This strategic move consolidates Geely’s EV resources under one umbrella, creating a stronger entity to compete in the rapidly growing electric vehicle market. By integrating the strengths of both Zeekr and Lynk & Co, Geely aims to accelerate its electrification strategy and achieve significant sales growth in the coming years.