China’s Geely moves to take EV startup Zeekr private amid trade war with US

China’s Geely Auto wants to take its luxury EV unit Zeekr off the New York Stock Exchange one year after the company’s debut, per Zeekr filings. The take-private offer comes as the Trump administration explores kicking Chinese companies off American stock exchanges, part of a broader trade war that includes what has become a tariff quagmire between the U.S. and China. On Tuesday, Geely offered to pay $25.66 per Zeekr American Depository Receipt (ADS), or $2.566 per ordinary share, which was about 14% higher than Zeekr’s Monday afternoon closing price, in a deal that values the company at $6.5 billion. ADS holders can also opt to receive 12.3 newly issued Geely shares per ADS. Aside from skirting potential geopolitical awkwardness, Geely has a lot to gain from taking Zeekr private and not much to lose. Geely already owns 65.7% of Zeekr through its founder Li Shufu. That means Geely would only need to pay out roughly $2.2 billion to acquire the rest. For that price, Geely could help Z ... Read full article.