Zeekr and Lynk & Co Target 1 Million Annual Sales After Geely Merger
Geely has announced a strategic merger of its electric vehicle brands, Zeekr and Lynk & Co, aiming to achieve combined annual sales of one million units by 2026. Under the new structure, Zeekr will acquire a 51% stake in Lynk & Co, placing both entities under the leadership of Zeekr CEO Andy An, who also serves as Geely’s president. This reorganization is designed to eliminate internal competition, reduce costs, and improve profitability after both brands reported significant losses in the first half of the year. Following the merger, Zeekr plans to expand into China’s mainstream automotive segment with vehicles priced between RMB 150,000 and RMB 350,000, potentially covering 60% of the Chinese auto market. Volvo, which previously held a 30% stake in Lynk & Co, will divest its shares by next June but will maintain close operational ties, particularly for European sales network expansion. This move represents Geely’s boldest effort yet to streamline its operations and strengthen its position in the competitive global EV market.
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Zeekr and Lynk & Co Target 1 Million Annual Sales After Geely Merger
Geely has announced a strategic merger of its electric vehicle brands, Zeekr and Lynk & Co, aiming to achieve combined annual sales of one million units by 2026. Under the new structure, Zeekr will acquire a 51% stake in Lynk & Co, placing both entities under the leadership of Zeekr CEO Andy An, who also serves as Geely’s president. This reorganization is designed to eliminate internal competition, reduce costs, and improve profitability after both brands reported significant losses in the first half of the year. Following the merger, Zeekr plans to expand into China’s mainstream automotive segment with vehicles priced between RMB 150,000 and RMB 350,000, potentially covering 60% of the Chinese auto market. Volvo, which previously held a 30% stake in Lynk & Co, will divest its shares by next June but will maintain close operational ties, particularly for European sales network expansion. This move represents Geely’s boldest effort yet to streamline its operations and strengthen its position in the competitive global EV market.
TechNode