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Zeekr to Acquire 51% Stake in Lynk & Co in Strategic Move to Eliminate Duplication and Cut Costs
Nov 14, 2024, 05:35 AM
Zeekr, the premium electric vehicle brand owned by China's Geely Automobile Holdings, is set to acquire a 51% stake in its sister brand Lynk & Co as part of a strategic integration, according to Chinese state-run media reports. The restructuring aims to eliminate duplication and save costs amid fierce competition in the electric vehicle market. Zeekr plans to use its own cash reserves and external financing to fund the acquisition, which will give it a controlling stake in Lynk & Co. The move consolidates Geely's position in the rapidly growing EV segment.
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