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Geely Integrates Zeekr and Lynk & Co
On November 14, 2024, Geely Holding Group announced a significant restructuring. Geely is optimizing the shareholding structure of its subsidiaries Zeekr and Lynk & Co, aiming to reducing related party transactions, eliminating competition within auto industry and promoting integration, enhancing operational efficiency.
Stake Transactions
The restructuring involves the following key transactions:
- For Zeekr
Geely Holding Group will transfer its 11.3% stake in Zeekr to Geely Automobile. After that, Geely Auto’s shareholding ratio in Zeekr will increase to 62.8%, becoming the biggest shareholder of Zeekr.
- For Lynk & Co:
Zeekr will purchase a total of 50% shares from Geely Holding and Volvo in Lynk & Co. Additionally, Zeekr will obtain an extra 1% share by increasing capita; in Lynk & Co. After the transaction, Zeekr’s total shareholding in Lynk & Co will be 51%, making it Lynk & Co’s the biggest shareholder.
Updated Shareholding Table for Lynk & Co:
Shareholder | Old Stake | New Stake |
Geely Auto | 50% | 49% |
Volvo Cars | 30% | 0 |
Geely Holding | 20% | 0 |
Zeekr | 0 | 51% |
Strategic Focus and Future Goals
This strategic move can be tracked back to September, when Geely released its "Taizhou Declaration". What’s "Taizhou Declaration" about?
According to the fierce competition of the auto industry in China, Geely is planning to transfer the company’s focus from expansion to strategic transition. Since then, various business segments under Geely have been undergoing fast integration.
This move, for Zeekr and Lynk & Co, seems natural. Geely wants to enhance collaboration between the two brands, especially in areas such as technology, product development, supply chains, manufacturing, marketing, and international expansion.
Li Shufu, Chairman of Geely Holding, announced that the company will transform Zeekr and Lynk & Co into a global leading NEV group for high-end luxury vehicles by 2026. At that time, the target annual production and sales will be one million units.
Brand Positioning and Market Differentiation
Will Zeekr and Lynk & Co emerge into one brand? The answer is no. Geelly wants them to be independent in terms of brand. The means, Zeekr and Lynk & Co will maintain their distinct brand identities. While there are clear positioning for the two brands:
Zeekr
- Position: luxury technology brand
- Targeted market: the premium market
- Models: mid-to-large electric cars and hybrid cars
Lynk & Co
- Position: the global mid-high-end new energy brand
- Targeted market: the mid-to-high-end segments
- Models: mid-small electric cars and medium-sized hybrid vehicles
Nanjing
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2022.0927,000kmPetrol
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2022.1117,000kmPetrol
Fuzhou
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2013.0486,000kmPetrol
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