Geely finalizes Zeekr privatization terms, clearing the way for ‘One Geely’ integration

Shanghai (Gasgoo)- Geely Automobile Holdings Limited announced on December 9 the final results of shareholder elections in the privatization of its premium EV unit Zeekr, marking a decisive step toward completing its long-planned return to a unified "One Geely" corporate structure.

Roughly 71% of eligible Zeekr shareholders opted to receive Geely shares as consideration, entitling them to a combined 777,228,611 newly issued Geely shares with full parity to existing stock, including dividends and voting rights. The remaining 29.2% chose, or were deemed to choose, cash compensation, which will total about US$701 million.

Under the finalized terms, each Zeekr common share is exchangeable for either US$2.687 in cash or 1.23 Geely shares. Each Zeekr American Depositary Share may be swapped for US$26.87 or 12.3 Geely ADSs.

Geely plans to complete the merger by December 29, 2025. Once consolidated, the group intends to leverage Zeekr's positioning in the premium global EV market — particularly its strengths in performance technologies, intelligent features and international reach — while drawing on Geely's scale and deep roots in the mainstream segment. The unified entity aims to integrate R&D, manufacturing, supply chains, product planning, marketing and overseas operations under a single strategic framework.

The merger will give Geely a seamless presence across the mass-market, mid-to-upper and luxury segments, supported by a diversified powertrain portfolio spanning internal combustion, battery-electric, plug-in hybrid and methanol-hydrogen electrified systems. The group expects the integration to sharpen its manufacturing capabilities, accelerate technology development and enhance long-term profitability and shareholder returns.

Financial results for the first three quarters of 2025 show Geely generated 239.5 billion yuan in revenue, up 26% year-on-year. Core net profit attributable to shareholders surged 59% to 10.62 billion yuan, reflecting meaningful gains in profitability. The company also reported improved cost ratios across management, sales and R&D. As of the end of September, Geely held 60.1 billion yuan in cash and 45.2 billion yuan in net cash, providing ample reserves to support long-term expansion.

With the consideration structure now finalized, Geely is nearing the end of its "One Geely" consolidation effort. The company expects the unified platform to underpin stronger cost competitiveness, sharpen differentiation across its brand portfolio and reinforce its standing in global markets.