China's Geely is officially bringing its luxury EV startup Zeekr private
The news comes two months after Geely offered to take Zeekr private, following President Donald Trump's threats earlier this year to delist Chinese stocks from U.S. exchanges.
When the merger closes, Zeekr shareholders will receive either $2.69 in cash per share or 1.23 newly issued Geely shares for each Zeekr share they own, per a regulatory filing. Holders of Zeekr American depositary shares (ADSs), which each represent 10 Zeekr shares, will receive either $26.87 in cash or 12.3 Geely shares, delivered as Geely ADSs. It's a slightly higher offering than what Geely first proposed in May.
Investors can choose between cash or stock options, except for certain Hong Kong retail investors, who will receive cash by default.
Zeekr's board has already approved the merger, which is expected to close in the fourth quarter of 2025.
It's not clear how Zeekr's move to go private will affect its deal with Waymo to build purpose-built robotaxis for large-scale deployment in the U.S. Waymo is expected to launch its Zeekr vehicles in the Bay Area this year, some of which have been spotted testing on the roads of San Francisco.
TechCrunch has reached out to Waymo for more information.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
WSFS Financial Second Quarter 2025 Earnings: EPS Beats Expectations
WSFS Financial (NASDAQ:WSFS) Second Quarter 2025 Results Key Financial Results Revenue: US$254.9m (up 3.5% from 2Q 2024). Net income: US$72.3m (up 4.4% from 2Q 2024). Profit margin: 28% (in line with 2Q 2024). EPS: US$1.27 (up from US$1.16 in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period WSFS Financial EPS Beats Expectations Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's shares are down 3.1% from a week ago. Balance Sheet Analysis While earnings are important, another area to consider is the balance sheet. We have a graphic representation of WSFS Financial's balance sheet and an in-depth analysis of the company's financial position. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
9 minutes ago
- Yahoo
Why Is Wall Street So Bearish on Lucid Group? There's 1 Key Reason.
Key Points Electric car stocks have surged due to robotaxi optimism. But severe near-term challenges remain. 10 stocks we like better than Lucid Group › Several electric car stocks got huge boosts in recent weeks over enthusiasm for the promise of robotaxis. Tesla launched its robotaxi pilot program in Austin, Texas, last month. Lucid Group (NASDAQ: LCID), meanwhile, recently partnered with Uber Technologies to deliver 20,000 self-driving vehicles alongside a $300 million cash infusion. But not every analyst is bullish. CNBC's Jim Cramer, for example, recently questioned the value of Lucid's deal with Uber. This month, seven other major Wall Street analysts reaffirmed their price targets for Lucid stock. Everyone predicts that shares will fall in value over the next 12 months. Why is Wall Street still so bearish? There's one obvious culprit. The near-term reality for EV stocks is frightening Cathie Wood, CEO of Ark Invest, thinks robotaxis will be a $10 trillion industry long term. That has investors excited. Over the next 12 to 24 months, however, most EV makers will be feeling the pain. That's because federal tax credits for EVs are set to expire this September, effectively making a new EV purchase $7,500 more expensive. While the exact impact remains unknown, this shift should sizably lower demand growth. Federal automotive regulatory credits, meanwhile, are also set to lose their value given fines for noncompliance are being eliminated. Lucid has earned more than $200 million through these programs. And while it won't lose access to the entirety of this profit source, given that many state and international programs will remain, the financial impact will be sudden and meaningful. Every EV maker will be affected by these regulatory shifts, including Rivian, Tesla, and Lucid. EV sales in the second quarter of 2025 are already down 6.3% year over year. We could see these declines persist, or even accelerate, given reduced incentives. Lucid's robotaxi opportunity remains lucrative long term. But analysts are rightfully worried about the next year or two when it comes to reduced sales and profit growth. Should you invest $1,000 in Lucid Group right now? Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lucid Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool has a disclosure policy. Why Is Wall Street So Bearish on Lucid Group? There's 1 Key Reason. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 minutes ago
- Yahoo
Magyar Bancorp Third Quarter 2025 Earnings: EPS: US$0.40 (vs US$0.27 in 3Q 2024)
Magyar Bancorp (NASDAQ:MGYR) Third Quarter 2025 Results Key Financial Results Revenue: US$8.71m (up 20% from 3Q 2024). Net income: US$2.47m (up 46% from 3Q 2024). Profit margin: 28% (up from 23% in 3Q 2024). The increase in margin was driven by higher revenue. EPS: US$0.40 (up from US$0.27 in 3Q 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Magyar Bancorp shares are up 1.4% from a week ago. Risk Analysis We should say that we've discovered 1 warning sign for Magyar Bancorp that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
