China’s Geely Plans to Take EV Startup Zeekr Private as Tensions with the US Escalate Over Trade

Geely Auto is looking to delist its premium EV brand Zeekr from the New York Stock Exchange just a year after its initial public offering, according to Zeekr’s regulatory filings.

The move comes as the Trump administration considers removing Chinese firms from U.S. stock markets, intensifying an ongoing trade dispute marked by escalating tariffs between the two nations.

Geely Offers $6.5B Deal to Take Zeekr Private, Proposes Premium Buyout or Share Swap for ADS Holders

On Tuesday, Geely proposed buying Zeekr American Depository Receipts (ADS) at $25.66 each—or $2.566 per ordinary share—representing a 14% premium over Monday’s closing price.

The offer, which values Zeekr at $6.5 billion, also gives ADS holders the option to receive 12.3 newly issued Geely shares per ADS instead.

Beyond avoiding potential geopolitical complications, Geely stands to benefit significantly from taking Zeekr private with minimal downside. Since Geely already controls 65.7% of Zeekr through its founder Li Shufu, it would need to spend only around $2.2 billion to acquire the remaining shares.

This move would allow Geely to shield Zeekr from the volatility of the public market, providing stability in the highly competitive EV space while safeguarding its stake.

Zeekr Delivers Over 125,000 Vehicles in Early 2025 Despite Pending Q1 Financial Results

Although Zeekr has yet to release its first-quarter financials, the company reported delivering 125,250 vehicles under the Zeekr and Lynk & Co brands during the first four months of 2025.

Zeekr is collaborating with autonomous vehicle firm Waymo to develop a custom-designed robotaxi intended for widespread rollout in the U.S. While neither company has stated whether Geely’s plan to take Zeekr private would impact their partnership, Waymo recently announced it will begin integrating its self-driving technology into Zeekr vehicles at its new facility in Arizona later this year.

Read the original article on: TechCrunch

Read more: Revolutionary Gravity Finding Moves Us Nearer To A Theory Of Everything