Zeekr Group (NYSE: ZK) has completed its merger with Geely Automobile Holdings (HKG: 0175), marking a significant milestone in Zhejiang Geely Holding Group's restructuring of assets under its umbrella.
In a statement released today, Zeekr announced that following the merger's completion, it has become a wholly-owned subsidiary of Geely Auto and will no longer trade as a publicly listed company.
Zeekr has requested the New York Stock Exchange (NYSE) to suspend trading of its American Depositary Shares (ADS) effective December 22, 2025.
The company has requested the NYSE to file Form 25 with the US Securities and Exchange Commission (SEC), notifying the SEC that Zeekr ADS has been delisted from the NYSE and that the company's registered securities have been deregistered.
Over the past year, Geely Holding has undertaken a complex restructuring of its assets to prevent cannibalization among different brands and enhance synergies.
In November 2024, Zeekr announced a series of transactions with Geely Auto and Volvo, securing a 51 percent stake in its sister brand Lynk & Co.
On May 7 this year, Geely Auto proposed to take Zeekr Group private, just one year after Zeekr's US listing.
This move aims to drive resource integration, avoid duplicate investments, reduce costs, and build long-term value, Geely Auto said at the time.
On July 15, Geely Auto and Zeekr Group formally signed a definitive merger agreement for Geely to acquire all Zeekr shares beyond its existing holdings.
Zeekr shareholders may elect to receive consideration in cash or through a share swap for Geely stock.
Amid China's rapid automotive electrification shift in recent years, Geely launched the Zeekr brand in March 2021 to target the premium EV market.
With Zeekr achieving initial success in the premium EV segment, the positioning of other brands under Geely's umbrella has become increasingly awkward.
For instance, multiple models launched by Lynk & Co during its electrification push are sister models to Zeekr vehicles, intensifying mutual cannibalization.
Geely's acquisition of Zeekr represents one of Zhejiang Geely Holding Group's initiatives to consolidate its resources.
The move marks a new key step in Geely Holding's implementation of the Taizhou Declaration and advancement of its "One Geely" strategy.
Following the completion of the merger between Geely and Zeekr, strategic execution efficiency, innovation capabilities, and profitability would be further enhanced, creating greater value for all shareholders of the merged entity, Geely Holding said in July.
