TL;DR
- Geely Auto will take its EV subsidiary Zeekr private, ending its NYSE listing.
- Shareholders can opt for $2.69 cash per share or 1.23 Geely shares per Zeekr share.
- The move follows U.S. delisting threats under President Trump’s policies targeting Chinese companies.
- Zeekr’s U.S. partnership with Waymo remains uncertain amid the strategic transition.
- The merger is expected to close in Q4 2025, pending regulatory approvals.
Geely Moves to Delist Zeekr from U.S. Exchange
Geely Auto has officially announced plans to take its luxury electric vehicle unit Zeekr private, ending the startup’s brief tenure on the New York Stock Exchange (NYSE) just over a year after its IPO.
The announcement follows a politically charged atmosphere triggered by President Donald Trump’s threats to delist Chinese firms from U.S. capital markets, prompting several Chinese corporations to consider strategic exits from U.S. listings.
Cash or Stock: Shareholder Options in the Buyout
According to a regulatory filing, Zeekr shareholders will receive either:
- $2.69 in cash per share, or
- 1.23 newly issued Geely shares for each Zeekr share.
For holders of American Depositary Shares (ADSs)—each representing 10 Zeekr shares—the options are:
- $26.87 in cash, or
- 12.3 Geely shares, delivered as Geely ADSs.
This represents a modest premium compared to Geely’s initial offer in May, signaling an effort to secure shareholder approval amid geopolitical uncertainty.
Note: Some Hong Kong-based retail investors will receive cash by default, per the updated offer terms.
Geely–Zeekr Buyout Terms
| Detail | Terms & Figures |
| Zeekr Status | Going private |
| Parent Company | Geely Auto |
| Date of Delisting Announcement | July 15, 2025 |
| Per Share Offer | $2.69 cash OR 1.23 Geely shares per Zeekr share |
| ADS Offer (10 Zeekr shares) | $26.87 cash OR 12.3 Geely shares (as ADSs) |
| Merger Closure Timeline | Expected in Q4 2025 |
| Reason for Delisting | Trump-era delisting threats for Chinese firms |
| Potential Impact | Waymo partnership remains unconfirmed |
Source: TechCrunch, Regulatory Filings
What This Means for Zeekr’s Waymo Partnership
Zeekr’s delisting has raised questions about its high-profile partnership with Waymo, Alphabet’s self-driving vehicle arm. The two companies are collaborating on purpose-built robotaxis for deployment in the U.S. market, particularly in the San Francisco Bay Area.
Some Zeekr models have already been spotted in test runs, but it is unclear if the going-private move will:
- Slow down regulatory approvals in the U.S., or
- Impact vehicle production or deployment timelines.
TechCrunch has reached out to Waymo for clarification.
Strategic Implications for China’s EV Industry
The Zeekr delisting highlights broader challenges facing Chinese tech firms navigating U.S. capital markets, especially under renewed scrutiny from Washington. While Geely has not cited politics directly, the timing aligns with increasing pressure from U.S. regulators over national security and audit transparency.
Going private enables Geely to:
- Avoid future geopolitical and disclosure risks tied to U.S. listings,
- Retain full control over Zeekr’s global operations,
And pivot Zeekr’s expansion strategy into friendlier markets in Asia and the Middle East.
