China’s Geely Auto is officially adopting its luxurious EV subsidiary Zeekr Private just a year after the company debuted on the New York Stock Exchange.
The news is registering Chinese stocks from US exchanges two months after Geely offered to make Zeekr private, following the threat of President Donald Trump earlier this year.
Once the merger is closed, Zeekr shareholders will receive $2.69 in cash of $2.69 per share, or 1.23 newly issued Geely shares per ZeekR share, pursuant to regulatory filings. Holders of Zeekr American Depositary Shares (ADSS) will each earn either cash or 12.3 Geely shares delivered as Geely ADSS, representing 10 ZeekR shares. It’s a slightly more expensive product than Geely originally proposed in May.
Investors can choose cash or stock options, except for certain Hong Kong retail investors who receive cash by default.
Zeekr’s board has already approved the merger and is expected to close in the fourth quarter of 2025.
How the move to private has affected Waymo’s deal, and building a dedicated Robotaxis for a massive deployment in Waymo, USA, is set to launch a Zeekr vehicle in the Bay Area this year, some of which have been found being tested on San Francisco roads.
TechCrunch has contacted Waymo for more information.
