Geely Automobile, Zeekr Group sign merger agreement to unify operations under “One Geely” vision

Shanghai (Gasgoo)- On July 15, Zhejiang Geely Holding Group ("Geely Holding") announced that its subsidiary, Geely Automobile Holdings Limited, has officially signed a merger agreement with ZEEKR Intelligent Technology Holding Limited ("Zeekr Group"). Under the terms of the agreement, Geely Automobile will acquire all remaining Zeekr shares it does not already own, with Zeekr shareholders given the option to receive either cash or shares in Geely Automobile as consideration.

This agreement follows Geely Automobile's earlier announcement on May 7 outlining its intention to acquire all issued shares of Zeekr Group. The signing marks a significant milestone in advancing the "One Geely" strategy outlined in the Tāizhōu Declaration, reflecting Geely Holding's commitment to deeper internal integration and more efficient resource coordination.

Since the release of the Tāizhōu Declaration, Geely Holding has worked to eliminate redundant investments and strengthen its competitive position through enhanced synergy across the group. The merger will enable Geely Automobile to sharpen its strategic execution, accelerate innovation, and improve profitability, ultimately driving greater long-term value for shareholders of the combined entity.

The consolidation is designed to bolster Geely Automobile's global competitiveness in the smart electric vehicle space. By uniting Zeekr Group's strengths in the premium new energy vehicle (NEV) segment with Geely's extensive presence in the mainstream market, the merged company will gain a stronger edge across technology development, product offerings, supply chain management, manufacturing, marketing, service, and international expansion. This synergy is expected to drive scale benefits and unlock new growth opportunities.

Post-merger, Geely Automobile will offer comprehensive coverage across various propulsion technologies—covering internal combustion engine vehicles, battery electric vehicles, plug-in hybrid electric vehicles, and methanol-hydrogen electric vehicles—while extending its reach from the mass-market to the premium and luxury segments.

Li Shufu, Chairman of Geely Holding, added, "Since the launch of the Tāizhōu Declaration last year, the 'One Geely' initiative has made solid progress. This merger lays a strong foundation for a brighter future for Geely Automobile."