Shanghai (Gasgoo)- Lynk & Co Automotive Technology Co., Ltd. (“Lynk & Co”) recently underwent a major corporate restructuring that has reshaped its ownership and management structure.
Recently updated business registration records on Feb. 11 by the Chinese enterprise information inquiry platform Tianyancha reveal that Volvo Cars (China) Investment Co., Ltd. and Zhejiang Geely Holding Group (“Geely Holding”) have withdrawn as shareholders of Lynk & Co. In their place, Zhejiang Zeekr Intelligent Technology Co., Ltd. (“ZEEKR”) has joined as a new shareholder.
Photo credit: Lynk & Co
The restructuring has resulted in Lynk & Co now being jointly owned by Ningbo Geely Automobile Industry Co., Ltd. (“Ningbo Geely”) and ZEEKR, although the specific shareholding percentages have not been disclosed.
Prior information indicated that Ningbo Geely previously held a 50% stake in Lynk & Co.
Additionally, Lynk & Co’s registered capital has seen an increase from 7.5 billion yuan to approximately 7.65 billion yuan.
As part of the restructuring, significant management changes have taken place. An Conghui, who serves as the President of Zhejiang Geely Holding Group, Chairman of Geely Auto Group, and CEO of ZEEKR, has now assumed the role of Lynk & Co’s legal representative and chairman, succeeding Gan Jiayue. This change marks the completion of the integration between ZEEKR and Lynk & Co, aligning with Geely Holding’s overarching strategy to consolidate internal resources.
In September 2024, Geely Holding introduced the “Tāizhōu Declaration,” highlighting its dedication to enhancing internal resource integration, defining brand positioning, streamlining equity structures, and eliminating conflicts of interest and redundant investments. Subsequently, Geely Auto Group announced the merger of its GEOME brand into the Geely Galaxy and initiated the consolidation of ZEEKR and Lynk & Co.
Furthermore, in November last year, Geely Holding disclosed its plan to transfer an 11.3% stake in ZEEKR to its listed subsidiary, Geely Automobile Holdings Limited. Upon completion, Geely Automobile’s ownership in ZEEKR would rise to around 62.8%. ZEEKR would then hold a 51% stake in Lynk & Co, while a wholly-owned subsidiary of Geely Automobile would possess the remaining 49%. This integration will establish the “ZEEKR Technology Group,” overseeing both the ZEEKR and Lynk & Co brands.
