Just one year after ZEEKR went public on the US stock market, its majority shareholder, Geely, is offering the Chinese EV automaker an opportunity to go private once again.
As we’ve pointed out several times in the past (especially the last month or so), Chinese EV automaker ZEEKR ($ZK) continues to build momentum overseas as it gears up to continue expanding its presence to new markets around the world (just not in the US yet, sorry).
We recently visited Shanghai and Hangzhou in China, where ZEEKR was our host. At the Shanghai Auto Show, we explored the automaker’s entire lineup on the showroom floor and also got a rare opportunity to drive ZEEKR EVs on public roads in China, which we were quite impressed with.
Several other brands under the Geely umbrella, including Lynk & Co., were also present during that drive day. Geely currently owns approximately 65.7% of ZEEKR and is now hoping to make that investment whole, as it has proposed that the automaker delist in the US and become a private company.
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Source: Yahoo! Finance
ZEEKR has option to delist in US and become wholly-owned by Geely
As reported by CnEVPost, Geely Automobile Holdings submitted a non-binding offer to ZEEKR today, proposing to delist it from the Nasdaq in the US and take the Chinese EV automaker private. That letter was confirmed via an announcement from the Hong Kong stock exchange.
In May 2024, ZEEKR went public in the US on the NYSE under the ticker symbol “ZK,” trading as American depositary receipts (ADRs). Then, in November of 2024, Geely increased its stake in ZEEKR after a musical chairs restructuring in which the latter acquired 21% of Lynk & Co from the former and its 30% stake in Volvo Cars. As a result, Geely owns about 65% of ZEEKR.
As the majority shareholder, Geely now wants ZEEKR to delist from the US stock market so it can wholly acquire it to “drive resource consolidation, avoid duplication, reduce costs, and build long-term value.”
According to the non-binding proposal letter filed today, Geely is offering to acquire all issued and outstanding ZEEKR shares and ADSs at a proposed purchase price of $2.57 per share or $25.66 per ADS. The proposed purchase of the remaining 34.3% of the automaker would equate to about $2.2 billion from Geely without any evident hurdles to continuing business as usual.
Instead, Geely hopes to create a unified listing platform and consolidate the automaker’s assets and resources to become more competitive in the passenger EV segment and, per Geely, help “define ZEEKR’s future strategic direction to address global market and economic challenges.”
ZEEKR’s stock in the US is currently up following news of Geely’s privatization plans. We’ve contacted ZEEKR for a comment, and were sent the following release from Geely.
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Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!
In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.
Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.
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The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!
We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Tesla has launched its new Oasis Supercharger, the long-promised EV charging station of the future, with a solar farm and off-grid batteries.
Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to the Supercharger stations, and CEO Elon Musk even said that most stations would be able to operate off-grid.
While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.
Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:
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All of these pieces have been in place for years, and Tesla has now discontinued the Powerpack in favor of the Megapack. The Supercharger network is also transitioning to V4 stations.
Yet, solar and battery deployment haven’t accelerated much in the decade since Musk made that comment, but it is finally happening.
Tesla has now unveiled the project and turned on most of the Supercharger stalls:
The project consists of 168 chargers, with half of them currently operational, making it one of the largest Supercharger stations in the world. However, that’s not even the most notable aspect of it.
The station is equipped with 11 MW of ground-mounted solar panels and canopies, spanning 30 acres of land, and 10 Tesla Megapacks with a total energy storage capacity of 39 MWh.
It can be operated off-grid, which is the case right now, according to Tesla.
With off-grid operations, Tesla was about to bring 84 stalls online just in time for the Fourth of July travel weekend. The rest of the stalls and a lounge are going to open later this year.
Electrek’s Take
This is awesome. A bit late, but awesome. This is what charging stations should be like: fully powered by renewable energy.
Unfortunately, it will be much harder to open those stations in the future due to legislation that Trump and the Republican Party have just passed, which removes incentives for solar and energy storage, adds taxes on them, and removes incentives to build batteries – all things that have helped Tesla considerably over the last few years.
The US is likely going to have a few tough years for EV adoption and renewable energy deployment.
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