Zeekr is now diversifying to more than just EVs with its acquisition of Lynk & Co
Zeekr, the premium electric vehicle brand owned by China’s Geely, is shifting its strategy to include hybrid models alongside its pure electric vehicles. CEO An Conghui revealed during an earnings call that Zeekr is developing a new electric-hybrid technology tailored for larger vehicles such as SUVs and MPVs.
The first hybrid models, featuring this technology, will debut at the Shanghai Auto Show in April 2025, with an official launch expected in the second half of next year. Originally, Zeekr was created in 2021 to focus solely on pure electric vehicles (EVs), while its sister brand, Lynk & Co, focused on a broader range of models, including internal combustion engine (ICE) and plug-in hybrid electric vehicles (PHEVs).
Moreover, in August 2024, Zeekr announced a shift in strategy, revealing plans to expand its portfolio to include both electric and hybrid vehicles. The brand’s first hybrid offering will be a flagship SUV, which will leverage Zeekr’s newly developed hybrid system.
This system is designed to allow the vehicle to operate in EV mode at low speeds, while switching to an internal combustion engine (ICE) for longer highway drives, providing better power and extended range.
Zeekr is also not alone in this pivot. The move to introduce hybrid models follows a growing trend among pure EV makers, as competitors like Avatr, Xpeng, and Nio also start to offer hybrid options. Hybrids have become popular with Chinese consumers, as evidenced by the success of Li Auto and Aito’s range-extended EVs (EREVs).
On top of that, Zeekr’s decision to enter the hybrid market comes as part of a broader effort by Geely to streamline operations and consolidate its brands under a unified strategy. In a major corporate restructuring, Zeekr is set to take control of Lynk & Co, marking the first significant overhaul within Geely’s vast automotive portfolio.
The move is designed to eliminate internal competition and reduce redundant investments in R&D, sales, and manufacturing. Geely aims for Zeekr and Lynk to form a new energy vehicle manufacturing group with annual sales exceeding one million units, a significant leap from the 339,000 vehicles sold by both brands in 2023.
Zeekr’s acquisition of Lynk & Co is valued at about USD2.5 billion, and the deal is expected to close by mid-2025. As part of the deal, Zeekr will increase its stake in Lynk to 51 percent, while also integrating Lynk’s product development teams. This integration is expected to reduce costs and improve efficiency, allowing Zeekr to better compete in the rapidly evolving EV and hybrid markets.
