KATHMANDU: Geely Automobile has announced plans to acquire all remaining shares of Zeekr Group, its premium electric vehicle (EV) brand, effectively making Zeekr a wholly owned subsidiary.
The decision comes less than a year after Zeekr’s debut on the US stock market and is aimed at increasing operational efficiency, cutting costs and enhancing global competitiveness.
Geely currently holds a 65.7% stake in Zeekr and is offering $2.57 per share, or $25.66 per American Depositary Share (ADS), to purchase the remaining shares. Following the announcement, Zeekr’s stocks jumped 10% in premarket trading.
The acquisition aligns with Geely’s broader strategy known as the ‘Taizhou Declaration’, which focuses on integrating its various auto brands to boost collaboration and drive innovation. Zeekr, along with Lynk & Co, Galaxy and China Star, targets different segments of the EV market under the Geely umbrella.
Pioneer MotoCorp represents Zeekr in Nepal. The Zeekr X, a compact SUV, is currently the only model available in the domestic market.
In April alone, Geely sold 234,112 vehicles—an impressive 53% year-on-year growth. Of these, 125,563 were new energy vehicles, marking a 144% surge and accounting for more than half of total sales.
Geely Chairperson Li Shufu has reaffirmed the company’s commitment to becoming a global EV leader.
Pioneer MotoCorp represents Zeekr in Nepal. The Zeekr X, a compact SUV, is currently the only model available in the domestic market.
