SHANGHAI -- Chinese automaker Zhejiang Geely Group Holding plans to take its New York Stock Exchange-listed luxury electric vehicle brand Zeekr private, in an effort to boost cost competitiveness by eliminating overlapping investments among its companies.
Geely announced on Wednesday that it will make Zeekr a wholly owned subsidiary through Geely Automobile Holdings, a subsidiary listed on the Hong Kong Stock Exchange. Geely Automobile currently owns about 65.7% of Zeekr shares and will purchase the rest.
