Hello friends! Today, we’re diving into some exciting news from the automotive world with a tech twist. China’s Geely is making a bold move by taking its luxury electric vehicle startup Zeekr private. Let’s see what’s happening!

After debuting on the New York Stock Exchange just over a year ago, Zeekr is now going private, following a proposal by Geely two months ago. This comes in the context of geopolitical tensions, with President Trump earlier threatening to delist Chinese stocks from U.S. exchanges.

Once the merger wraps up, shareholders will have options: they can opt for roughly $2.69 in cash per share or receive about 1.23 new Geely shares for each Zeekr share. American depositary share (ADS) holders will be offered $26.87 cash or 12.3 Geely ADSs, which are stock certificates representing multiple shares.

This offer is slightly higher than what Geely initially proposed back in May. Investors can choose between cash and stock, though Hong Kong retail investors will default to cash. The merger has already been approved by Zeekr’s board and is set to close in late 2025.

There’s ongoing speculation about how this move might impact Zeekr’s collaboration with Waymo on robotaxis in the U.S. Waymo’s Zeekr vehicles are expected to debut in the Bay Area soon, with some spotted testing around San Francisco. The situation is evolving, and more details are eagerly awaited.

So, in summary, Geely is consolidating its position in the EV landscape with Zeekr going private, potentially opening new chapters for their innovative journey!