China’s Geely Is Officially Bringing Its Luxury Ev Startup Zeekr Private

China’s Geely Auto is officially taking its luxury EV subsidiary Zeekr private, conscionable complete a twelvemonth aft nan institution debuted connected nan New York Stock Exchange.

The news comes 2 months aft Geely offered to return Zeekr private, pursuing President Donald Trump’s threats earlier this twelvemonth to delist Chinese stocks from U.S. exchanges.

When nan merger closes, Zeekr shareholders will person either $2.69 successful rate per stock aliases 1.23 recently issued Geely shares for each Zeekr stock they own, per a regulatory filing. Holders of Zeekr American depositary shares (ADSs), which each correspond 10 Zeekr shares, will person either $26.87 successful rate aliases 12.3 Geely shares, delivered arsenic Geely ADSs. It’s a somewhat higher offering than what Geely first projected successful May.

Investors tin take betwixt rate aliases banal options, isolated from for definite Hong Kong unit investors, who will person rate by default.

Zeekr’s committee has already approved nan merger, which is expected to adjacent successful nan 4th fourth of 2025. 

It’s not clear really Zeekr’s move to spell backstage will impact its woody pinch Waymo to build purpose-built robotaxis for large-scale deployment successful nan U.S. Waymo is expected to motorboat its Zeekr vehicles successful nan Bay Area this year, immoderate of which person been spotted testing connected nan roads of San Francisco. 

TechCrunch has reached retired to Waymo for much information.