On November 14, 2024, Geely Holding Group announced the integration of its subsidiaries Geely Zeekr and Lynk & Co, with Geely Zeekr taking a controlling stake in Lynk & Co.

There is a lot of official information, but the key points are:

Volvo will exit from the Lynk & Co shareholder base, with its 30% stake in Lynk & Co to be acquired by Geely Zeekr. Ultimately, Geely Zeekr will spend 9.3 billion to acquire a 51% stake in Lynk & Co, achieving a controlling stake.

The remaining 49% stake in Lynk & Co will continue to be held by a wholly-owned subsidiary of Geely Auto.

Geely Auto's shareholding ratio in Geely Zeekr will increase to 62.8%, achieving a controlling stake.

The merger is expected to be completed by June next year.

Geely has numerous brands and scattered resources, and users have already felt the issue of resource allocation. For example, the well-received Flyme Auto infotainment system is available in Lynk & Co, Geely Xingyue, and Polestar brands but not in Geely Zeekr; additionally, the product lines of Lynk & Co and Geely Zeekr converge, making it difficult for users to choose. As Geely Zeekr begins to expand its range and Lynk & Co shifts towards pure electric vehicles, the overlap between the two brands will increase.

The merger of Geely Zeekr and Lynk & Co, with their combined sales accounting for nearly 30% of Geely's total, makes integration imperative.

Geely claims that the integration is not due to operational pressure but rather to concentrate efforts and promote the vision of "making the world full of Geely".

After the merger, Geely Zeekr can expand its channels and sales with the help of Lynk & Co; Lynk & Co, with the help of Geely Zeekr, becomes a listed company, enhancing its positioning and obtaining support from the capital market.

Through integration, Geely will form two major automotive groups: one is the Geely Auto Group, focusing on the mainstream market with Geely Xingyue and China Star; the other is the Geely Zeekr Group, focusing on the premium luxury new energy vehicle market with Geely Zeekr and Lynk & Co.

It is worth noting that Geely has already taken action previously, announcing in October this year that the Geometry brand will be merged into the Xingyue series, and recently, it was reported that the new energy pickup truck brand Radar Auto will also be integrated into the Geely Auto Group.

Meanwhile, An Congrui, Chairman of Geely Zeekr Technology, will concurrently serve as Chairman of Polestar, a personnel change seen as a prelude to possible further integration or collaborative development between Polestar and Geely Zeekr in the future.