Geely to reorganise Zeekr, Lynk units as founder, investors extract US$2 billion

Quick Summary:

Zeekr slumps in New York trading as Li and his associates sell their stakes in Geely’s reorganisation plan.

Li is reorganising his Hangzhou, Zhejiang-based empire amid excess capacity in the industry and a cutthroat price war among domestic EV producers.

The purchase will raise its stake to 62.8 per cent.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: Lynk Electric Hong Zeekr Cent Auto Stake Geely Shufu Group’s Business

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-15 @ 09:05:54 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 358 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23595646

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