What's Going On With Zeekr Stock Today?

Zeekr Intelligent Technology Holding Ltd. ZK shares are trading higher on Wednesday.

Geely Automobile Holdings announced a proposal to take its electric vehicle subsidiary, Zeekr Intelligent Technology Holding, private, per a filing on the Hong Kong Exchange.

The offer, disclosed on May 7, 2025, values Zeekr at approximately $6.5 billion, with Geely offering $25.66 per American Depositary Share (ADS), representing a 13.6% premium over Zeekr’s last closing price.

The decision aligns with Geely’s broader strategy to streamline operations and reduce redundancies across its automotive brands, including Volvo, Lotus and Polestar.

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The company aims to enhance competitiveness and create long-term value by integrating Zeekr’s assets and resources.

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To finance the buyout, Geely plans to use a combination of newly issued shares, existing cash reserves and, if necessary, debt financing. Currently holding approximately 65.7% of Zeekr’s shares, Geely seeks to acquire the remaining stake to make Zeekr a wholly-owned subsidiary and subsequently delist it from the NYSE.

This proposed privatization reflects the challenges faced by Chinese EV makers in the global market, including economic complexities and increased domestic competition.

By consolidating its EV operations, Geely aims to better position itself in the rapidly evolving electric vehicle landscape.

ZK Price Action: Zeekr shares are trading higher by 10.67% to $25 at publication on Wednesday.

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Photo: Courtesy Zeekr, Geely Automobile