Chinese automaker Geely is taking steps to remove its luxury electric vehicle subsidiary, Zeekr, from the New York Stock Exchange, barely a year after the startup’s initial listing. The decision surfaces amid escalating trade tensions and increased regulatory scrutiny by U.S. authorities, particularly the Trump administration’s recent exploration of restricting Chinese companies from American exchanges.
According to filings, Geely proposed purchasing all of Zeekr’s outstanding American Depositary Shares (ADS) at $25.66 each—approximately 14% higher than the stock’s market closing price the previous day. This offer values Zeekr at around $6.5 billion. Alternatively, ADS holders will have the option to exchange their shares for newly issued Geely stock, at an exchange ratio of 12.3 Geely shares per Zeekr ADS.
Taking Zeekr private allows Geely, which already holds a controlling stake of 65.7% through founder Li Shufu, to shield its subsidiary from escalating geopolitical risks and market uncertainties associated with being an EV startup in a competitive global industry. At the proposed valuation, Geely would be required to spend roughly $2.2 billion to buy out remaining shareholders, a move that could potentially position Zeekr to better withstand market volatility while securing Geely’s significant investment.
Zeekr, whose complete first-quarter financial results have yet to be issued, reported delivering approximately 125,250 vehicles across its two main brands, Zeekr and Lynk & Co, in the early months of 2025.
The EV startup is also actively collaborating with autonomous driving giant Waymo, a subsidiary of Alphabet, to develop specially designed robotaxis intended for large-scale rollout in the U.S. Neither party has disclosed whether Geely’s privatization of Zeekr would impact their current partnership. However, Waymo recently announced intentions to fit its self-driving technology into Zeekr vehicles at a new manufacturing facility planned for Arizona later this year.
