Geely Group is reportedly consolidating its Lynk & Co. and Zeekr brands to focus on the new energy vehicle (NEV) market. According to sources cited by the state-run Economic Daily, Zeekr will take a controlling stake in Lynk & Co., with a formal announcement expected soon. This consolidation follows Geely’s shift from broad expansion to a more focused approach, outlined in the Taizhou Declaration on September 1, 2024. It is part of an ongoing effort to integrate its core businesses.
Zeekr, launched in 2021, has become a significant player in the electric vehicle (EV) market, while Lynk & Co., a joint venture between Geely and Volvo since 2017, has faced challenges in keeping up with the rapid rise of EVs. Despite reaching one million sales in six years, Lynk & Co. only introduced its first battery electric vehicle, Z10 (see specs), in 2024. As part of the integration, Lynk & Co. will retain its brand, but its team and strategy will align more closely with Zeekr, particularly in financial and procurement functions.
The consolidation aims to reduce internal competition and optimize resources to improve Geely’s competitiveness in the NEV sector. The integration is set to address the evolving dynamics in China’s automotive market, where competition is fierce, and consumer demands are changing rapidly.
Geely’s sales figures emphasize the need for this strategy. In October 2024, the group sold 226,686 vehicles, a 28% increase from the previous year. Fully electric vehicle (BEV) sales grew by 132%, reaching 78,858 units. Lynk & Co. and Zeekr combined accounted for nearly 30% of Geely’s total sales in the first three quarters of 2024.
Zeekr’s market share continues to grow, with a 92% increase in sales in October, reaching 25,049 units. Lynk & Co. experienced a 26% increase, selling 31,074 units in the same month. For the year, Geely has sold 1.32 million vehicles, up 26% from 2023, including 408,000 BEVs, a 66% increase.
This consolidation reflects a broader trend in the Chinese automotive industry, with other brands like Polestar also considering similar integrations. Zeekr’s chairman, Andy An, is also set to become chairman of Polestar, suggesting further integration between these brands. Geely’s new strategic focus aims to streamline operations and enhance its position in the competitive NEV market.
Source: Economic Daily
Best news of the week! Absolutely the right move. Especially if they can also somehow rescue Polestar!
I think, the best is still to come 🙂
This was a no-brainer from the first moment.
Are they gonna squash the Zeekr X and Lynk & Co Z20 into one car? What about the gazillion of infotainment systems that Lynk & Co cars run on? Where does Flyme go?
They’ll have SO MUCH integration and streamlining to do once this goes through.
Correct.
Rather now than never. As there is no deadline I trust Geely in their process.
The question remains though: What took them so long?
Spero che tutto ciò si traduca finalmente nella possibilità di vedere la Zeekr in Italia attraverso qualche distributore oppure direttamente .Ogni giorno ci invadono da articoli che fanno vedere nuove vetture e modelli di auto cinesi ma…..ce le fanno solo vedere .Sulla possibilità di acquistarle non se ne parla .Capisco che il mercato italiano possa essere poco interessante, visti i numeri insignificanti ma anche l’ offerta e’ abbastanza limitata .
Is a good idea since both designs are nearly similar. Lynk & Co has an edge in design though over Zeekr. Is good to use its design and named as Zeekr.
I do not see as a good solution to join Polestar with Lynk & Co and Zeekr.
Polestar should be joined with Volvo (and it is important to point out that Polestar was an Racing Arm from Volvo).
The problem of Polestar today is that they just sell these cars in a few Countries with a very limited Dealers. Why not use the big Volvo dealer’s network to improve Polestar as well? Models are even not competing between each other. In Brazil, for example, Volvo Dealers reportedly receive inquiries of “Why Polestar Models aren’t sold in Brazil by Volvo.
I do not see as a good solution to join Polestar with Lynk & Co and Zeekr.
Polestar should be joined with Volvo (and it is important to point out that Polestar was a Racing Arm from Volvo).
The problem of Polestar today is that they just sell these cars in a few Countries with a very limited Dealers. Why not use the big Volvo dealer’s network to improve Polestar as well? Models are even not competing between each other. In Brazil, for example, Volvo Dealers reportedly receive inquiries of “Why Polestar Models aren’t sold in Brazil by Volvo.
Lynk&co sell more cars…. number do not lie.Their design is better and stronger in looks. They have EV and hybrid
Zeekr tried the Polestar way of EV only but the market is collapsing. So they will introduce a hybrid now. It seems their brand and language is too normal.
So this is about not loosing Zeekr investment and polliticaly not loosing face