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According to Car News China, citing sources from Economic Daily, Chinese conglomerate Geely is reportedly planning a restructuring move by merging its two automotive brands, Lynk & Co and Zeekr. The move is aimed at focusing on the new energy vehicle (NEV) market.
Zeekr is expected to hold a controlling stake in Lynk & Co. An official announcement is anticipated soon.
Both Zeekr and Lynk & Co are automotive brands under the Geely conglomerate. While Lynk & Co started as a gasoline-focused brand, it recently ventured into the electric vehicle market with its first EV, the Z20 (known as Lynk & Co 02 in Europe). On the other hand, Zeekr is positioned as a premium electric vehicle brand.
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Geely is reportedly planning to merge its Lynk & Co and Zeekr brands. |
Following the restructuring, Lynk & Co will retain its brand name but will have a closer association with Zeekr in terms of personnel and strategy, particularly in the areas of finance and procurement.
Car News China suggests that the merger aims to reduce internal competition and optimize resources to enhance Geely’s overall competitiveness in the NEV market.
The restructuring at Geely also reflects significant shifts in China’s automotive market, characterized by intense competition and rapidly evolving consumer demands.
Geely reported global sales of 226,686 vehicles in the first three quarters of the year, a 28% increase year-over-year. Combined sales of Lynk & Co and Zeekr accounted for nearly 30% of Geely’s total sales during this period. The conglomerate’s pure electric vehicle sales surged by 132%, reaching 78,858 units.
In October, Zeekr’s sales grew by 92% to 25,049 vehicles, while Lynk & Co posted a 26% increase in sales, delivering 31,074 units.
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Lynk & Co entered the Vietnamese market in August 2023 through Tasco, introducing models such as the 01, 03, 09, 05, and recently, the Lynk & Co 06 SUV.
Zeekr has also been confirmed to enter the Vietnamese market soon, still under the distribution of Tasco Auto. The launch timeline for Zeekr remains unconfirmed. The brand’s initial lineup for Vietnam is expected to include the Zeekr 001, 009, and X models.
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