Chinese carmaker Geely to take Zeekr unit private at $6.83 billion valuation
Under the agreement, Geely will acquire the remaining stake it does not already own for $2.687 per share, or $26.87 per American depositary share, the companies said in separate statements on Tuesday.
The offer, which comes just over a year after Geely took the EV brand public in the U.S., represents an 18.9% premium to Zeekr's last close on May 6. The transaction is expected to close in the fourth quarter.
Geely already owns about 62.8% of Zeekr and initially offered $2.2 billion in May. It has now raised that to around $2.4 billion.
Zeekr's U.S. IPO in May 2024 — which valued the company at $6.8 billion — marked the first major Chinese listing in the U.S. since 2021.
Founded in 2021, Zeekr was launched as Geely's premium electric vehicle brand, showcasing the group's flagship in-house technologies—from EV architecture to battery systems.
The deal also underscores Geely Holding's (GEELY.UL) broader strategic pivot away from its aggressive global acquisition streak.
The company is now focused on operational efficiency and cost reduction, responding to margin pressures and a deepening price war in China's electric vehicle sector.
As part of its overhaul, Geely has reorganized its operations into two main arms — Geely Auto and Zeekr Group — targeting the mass-market and premium segments, respectively.
In March, it consolidated three separate units developing digital cockpit systems into a single 2,000-strong engineering team to boost efficiency and innovation.
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- Reuters
Japan heads to polls in key test for Prime Minister Ishiba
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BBC News
3 hours ago
- BBC News
'Great British Energy solar panels' for schools were made in China
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We are also closely monitoring global supply chain developments and remain committed to working with stakeholders to support a fair and sustainable solar industry."Longi said it regretted the findings of the Sheffield Hallam University report and "categorically affirms that forced labour has no place within our supply chain".A company spokesperson said the conclusions in the Over-Exposed report "may not fully reflect the comprehensive measures Longi has implemented to ensure full compliance with international labour standards"."Independent third-party audits play a critical role in verifying compliance and identifying potential risks," the spokesperson said."While the complexity of global supply chains presents challenges, Longi remains steadfast in its efforts to eliminate any risks associated with forced labour."
Auto Blog
6 hours ago
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Toyota Prius Generations Overview: From Bland To Grand
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. View post: Aston Martin Valhalla: This Is What a $1M Hypercar Should Look Like Toyota's thrifty hybrid has come a long way While hybrid sales are soaring today, that wasn't always the case. Early hybrids often had gawky styling and were woefully underpowered, whereas today, you can find any number of stylish, affordable hybrids. The Toyota Prius was the first mass-produced hybrid, and its evolution is a microcosm of the hybrid segment in general. Once little more than a statement for eco-consciousness, it has flourished into a genuinely desirable compact. Here's a closer look at all five Prius generations, with a focus on the normal Prius, not the smaller Prius C hatchback or larger Prius V that used to be on sale. The Ford Mach 4 could be the brand's first sedan since 2020 Watch More First-Generation (NHW11) Toyota Prius A few years after launching in Japan, the first Toyota Prius arrived in the United States and was produced between the 2001 and 2003 model years. Unlike later Prius models, this first-gen model was a small sedan. Power was derived from a 1.5-liter four-cylinder engine producing just 70 horsepower, and the electric motor added another 44 hp, but quick the original Prius was certainly not. From the start, though, it was extremely efficient, managing 42/41/41 city/highway/combined. Digital readouts for the speed and infotainment gave the interior a high-tech look back in the day, while build quality was typically Toyota solid. At just under $20k, the first Prius followed the Honda Insight as an economical hybrid for the masses. It didn't attempt to set new standards for style or performance, but its efficiency was unbeatable. Second-Generation (XW20) Toyota Prius The second-generation Prius was produced between the 2004 and 2009 model years. Improved in every aspect, it became a liftback design positioned between the Corolla and Camry. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Under the skin, the XW20 introduced a new 1.5L four-pot and electric motor that produced 110 combined horsepower, paired with a CVT. Efficiency was up to 48/45/46 mpg, and it had an impressive range of 547 miles. Performance was better but still meek, with over 11 seconds required to get from zero to 60 mph. A spacious interior that looked futuristic for the period was another plus point for this Prius generation, which underwent a light facelift for the 2006 model year. Sales of the XW20 were much better than the first version, and it's this Prius that became a status symbol for the environmentally-conscious group – or, quite simply, those who wanted to appear environmentally-conscious. Third-Generation (XW30) Toyota Prius Toyota Prius 2010 Toyota Prius 2010 Produced between the 2010 and 2015 model years, the third-gen Prius continued with the liftback body style of its predecessor. It still looks quite odd, but the unique body did help give the car a low drag coefficient of just 0.25 Cd, which obviously came with efficiency benefits. A new 1.8-liter four-cylinder engine and electric motor duo combined for 134 hp, while a CVT and front-wheel drive were still standard. Efficiency once again dominated, with the 2010 Prius capable of returning 51/48/50 mpg, and its range was now almost 600 miles. Toyota also sold the smaller, reliable Prius C hatchback from the 2012 model year, which could manage 53/46/50 mpg. For the 2012 model year, a plug-in hybrid version of the Prius was introduced. This one could hit 95 MPGe/50 mpg combined, but the all-electric range was only 11 miles. And, whereas today's plug-ins are almost always more powerful than normal hybrids, the original Prius PHEV still made just 134 hp. Inside, Toyota freed up more cargo space, materials used were nicer, and advanced options like radar cruise control and a solar roof became available. Fourth-Generation (XW50) Toyota Prius On sale between the 2016 and 2022 model years, the fourth-gen Prius saw further advances to the car's battery and electric motor technologies, all aimed at setting new standards for efficiency. The standard model's 1.8L four-pot and electric motor combine for 121 hp, which is actually less than the outgoing model, so it still needs well over 10 seconds to reach 60. Power went to the front wheels via a CVT as usual, but the XW50 eventually introduced the first AWD Prius in late 2018, with an electric motor powering the rear wheels but still failing to turn the Toyota into an exciting performer in any way. In Eco guise, this Prius managed 58/53/56 mpg, while the AWD variant got up to 50 mpg combined. The updated Prius Prime plug-in hybrid really began to distance itself from the normal Prius with this generation, as its all-electric range was now up to 25 miles. Efficiency was up to 133 MPGe/54 mpg combined. For 2019, Toyota introduced a facelifted model that toned down the original XW50's gawky styling. As we'll see in our next entry, this was the last of the Toyota Prius generations with awkward styling. Fifth-Generation (XW60) Toyota Prius After four generations of highly efficient but slow and oddly-styled Prius models, Toyota changed everything when the all-new, current iteration arrived for the 2023 model year. Although still a hatchback, the current Prius is considered one of the best makeovers in modern car design history. It's still a hatchback, but there's a cohesion and Lexus-like premium aura to the new look that no previous Prius came close to. Inside, it's still a high-tech affair with dual screens and the latest infotainment, but rearward visibility is still not great, and the sleeker roofline eats into headroom somewhat. The powertrain is a revelation compared to the older Prius. A new 2.0-liter four-cylinder engine and electric motor combination makes 194 hp in FWD models and 196 hp in AWD versions. Despite being so much more powerful, efficiency is still exemplary at up to 57/56/57 mpg. The new Prius plug-in hybrid is properly quick, courtesy of a new 220-hp powertrain. It can also go up to 45 miles on electric power alone, while efficiency is 127 MPGe/52 mpg combined. In fifth-gen form, the Prius is a perfect representation of how far hybrids have come. They no longer appeal to a niche audience or require futuristic styling to let everyone know what it is you're driving. Rather, hybrids are now considered as commonplace as any other gas car, just with superior efficiency. And the Prius is finally a car you won't buy for its efficiency alone. FAQs What generation Prius is the most reliable? Being a Toyota, any Prius has the potential to last for many years. However, the fourth-gen model has good ratings and fewer recalls than earlier Prius models. What model year is a gen-4 Prius? The fourth-gen Prius was manufactured between the 2016 and 2022 model years. What year of the Prius is one to stay away from? The 2010 Toyota Prius from the third generation looks like a troublesome one, as it has the most issues on Car Complaints. Excessive oil consumption was the leading problem faced by owners of this particular model. About the Author Karl Furlong View Profile
