Chinese automaker Geely Automobile Holdings has taken full control of its Lynk & Co Automotive Technology Company joint venture, following a planned change in the shareholding structure announced last November, according to local reports. Lynk & Co was originally established in 2016 in Sweden as a joint venture between Geely Auto Group, Geely Holdings and Sweden’s Volvo Cars.
Following a new funding round, Geely’s publicly-listed electric vehicle (EV) manufacturer Zeekr Intelligent Technology Holding Limited has taken a 51% stake in Lynk & Co, with Geely Auto Group holding the remaining 49% of the shares. Volvo Cars, now also majority-owned by Geely Auto Group, has given up its original 30% stake in the company.
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Zeekr sold just over 222,000 battery electric vehicles (BEVs) in 2024, mostly in China, while Lynk & Co is estimated to have sold around 280,000 mostly hybrid electric vehicles. The company is increasingly focused on expanding its BEV range and will do so as an integrated unit of Zeekr.
Zeekr will now oversee the management of both brands and is expected to integrate their R&D, manufacturing and supply chain operations, as well as their overseas networks, as it looks to become a strong player in the global BEV segment. The integration is expected to bring significant cost-sharing benefits, helping to make the two brands more competitive.
The company has set a global sales target of 710,000 vehicles for 2025, representing a 40% increase over last year, with Lynk & Co accounting for 390,000 of these and Zeekr for 320,000 units.
