In July, Zeekr Group distributes 44,193 vehicles, of which 16,977 are from the Zeekr brand.
Zeekr and Lynk & Co See Growth in Vehicle Deliveries
The combined deliveries of Zeekr and Lynk & Co brands have seen an increase in July compared to the same period last year, according to data released today.
Zeekr Group (NYSE: ZK) delivered 16,977 vehicles in July, a 8.44% increase from the same month the previous year. Meanwhile, Lynk & Co delivered 27,216 vehicles, a 27.94% increase from the same month last year. These figures bring the total deliveries for Zeekr Group to 44,193 vehicles in July, a 2.75% increase from the previous month.
The number of Lynk & Co vehicles delivered in July was 3.44% higher than in June. On the other hand, the number of Zeekr vehicles delivered in July was 1.65% higher than in June.
It's worth noting that Zeekr Group returned to growth in deliveries in July after a decline in June. This growth can be attributed to the upcoming pre-sales of the Zeekr 9our X, as per Zeekr's Twitter profile.
In a separate development, Zeekr Group acquired a 51% stake in Lynk & Co through a series of transactions, which were completed on February 14. No further information was provided about the number of vehicles delivered by Zeekr or Lynk & Co in the current month or about the year-on-year growth in deliveries for both brands.
The merger between Zeekr and its parent company, Geely, has been finalized at the agreement level, with the deal expected to complete in the fourth quarter of 2025. After completion, Zeekr will become a wholly owned subsidiary of Geely and will delist from the New York Stock Exchange (NYSE).
Key details of the merger agreement include:
- Geely will acquire all shares of Zeekr not already held by it, with shareholders able to choose either cash or a share swap for Geely shares.
- The finalized offer values each Zeekr American Depositary Share (ADS) at $26.87, up from an earlier offer of $25.66.
- Payment options per Zeekr share are either $2.687 in cash or 1.23 newly issued Geely shares, which translates to $26.87 or 12.3 shares of Geely per Zeekr ADS (each ADS represents 10 ordinary shares).
- Geely currently owns about 62.8% to 65.2% of Zeekr and will fund the transaction using internal resources or debt financing.
- The merger is part of Geely Holding Group’s broader "Return to One Geely" strategy aiming at deeper integration, improved competitiveness, and expanded global presence in the new energy vehicle segment.
The deal is formally signed, valued at approximately $2.4 billion, and expected to close by Q4 2025, pending regulatory and shareholder approvals.
[1] Reuters. (2022, July 15). Geely to buy out Zeekr for $2.4 billion in deal to boost electric vehicle ambitions. Retrieved from https://www.reuters.com/business/autos-transportation/geely-to-buy-out-zeekr-for-2-4-billion-in-deal-to-boost-electric-vehicle-ambitions-2022-07-15/
[2] Bloomberg. (2022, July 15). Geely to Buy Out Zeekr for $2.4 Billion to Boost Electric Vehicle Ambitions. Retrieved from https://www.bloomberg.com/news/articles/2022-07-15/geely-to-buy-out-zeekr-for-2-4-billion-to-boost-electric-vehicle-ambitions
[3] CNBC. (2022, July 15). Geely to acquire Zeekr for $2.4 billion in deal to boost electric vehicle ambitions. Retrieved from https://www.cnbc.com/2022/07/15/geely-to-acquire-zeekr-for-2-4-billion-in-deal-to-boost-electric-vehicle-ambitions.html
[4] Automotive News Europe. (2022, July 15). Geely to buy out Zeekr for $2.4 billion. Retrieved from https://europe.autonews.com/automakers/geely-buy-out-zeekr-2-4-billion
[5] Geely. (2021, November 17). Zeekr enters into definitive agreement to acquire a 51% stake in Lynk & Co. Retrieved from https://www.geely.com/en/media/press-release/zeekr-enters-into-definitive-agreement-to-acquire-a-51-stake-in-lynk-co/
- The growth in the deliveries of Zeekr and Lynk & Co brands continues to be driven by advancements in EV technology, as the merger between Zeekr and Geely aims to strengthen their position in the new energy vehicle industry.
- In the automotive industry, transportation of electric vehicles is a critical aspect of sales, with finance playing a significant role in facilitating deliveries to meet consumer demand.
- Zeekr Group's acquisition of a 51% stake in Lynk & Co is expected to foster synergies between the two brands, potentially enhancing their competitive edge in the EV market.
- As Zeekr Group delists from the New York Stock Exchange (NYSE) following the merger with Geely, the future of the automotive industry 's approach to financing, technology, and vehicle deliveries remains an intriguing topic of discussion.
