According to Economic Daily, this merger is part of the focus strategy stated in the announcement on September 1 of Geely Group. Zeekr launched in 2021 has become a formidable competitor in the electric vehicle market, while Lynk & Co (a joint venture between Geely and Volvo) faces many challenges due to the rapid development of electric vehicles.
During the merger, Lynk & Co will keep the brand, but the team and strategy will coordinate more closely with Zeekr to launch models with more improvements. With the goal of minimizing internal competition and optimizing resources, this cooperation aims at the Chinese auto market - where competition is fierce and consumer demand is changing rapidly.
In October 2024, Geely sold 226,686 vehicles (up 28%) compared to the previous year. pure electric vehicle sales also increased by 132%, reaching 78,858 units. Of which, Lynk & Co and Zeekr accounted for nearly 30% of Geely's total sales in the first 3 quarters of the year.
According to the report, in October 2024, Zeekr's market share continued to grow by 92%, reaching 25,049 vehicles. Despite the more disadvantages, Lynk & Co also recorded a 26% increase (in October 2024). As of November 2024, Geely Group has sold 1.32 million vehicles (including 408,000 pure electric vehicles), an increase of 26% compared to 2023.
Lynk & Co began entering the Vietnamese market in August 2023, right after Wuling and Haval. The Zeekr electric car brand entered the Vietnamese market in September 2024 but there is still no information about the products that will be sold here.
