ZEEKR is Now Officially a Subsidiary of Geely
Acquisition Details: Geely Automobile Holdings has successfully acquired ZEEKR Intelligent Technology Holding Limited, making ZEEKR an indirect, wholly owned subsidiary and positioning it as Geely's premium new energy vehicle brand.
Operational Integration: ZEEKR will integrate more closely with Geely's broader portfolio, utilizing shared technologies and platforms to enhance its operations and streamline premium electric vehicle offerings.
Financial Performance: ZEEKR reported disappointing Q3 earnings, with a non-GAAP EPADS of -$0.42, missing expectations by $0.24, and revenue of $4.43 billion, falling short by $330 million.
Market Challenges: Chinese electric vehicle manufacturers, including ZEEKR, are facing a slowdown in deliveries as government incentives begin to fade, impacting overall market performance.
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