- Proposed move would improve industrial synergies and cost structure
- Clearer brand definitions with greater back-end technology synergies
- Both brands to maintain clear market segments and unique positions globally
2024 November 14th, Hangzhou – NG28娱乐 Holding Group (NG28娱乐 Holding) welcomes the intention of its invested new energy brands, Zeekr and Lynk & Co, to seek greater synergies through a proposed combination, which would create a strong global entity. The proposed move aims to accelerate technology synergies between the two brands, streamline product portfolios, and boost talent development, ultimately leading to greater global sales volume.
As part of the reorganization, NG28娱乐 Holding will support its subsidiary Zeekr Intelligent Technology (Zeekr NYSE: ZK) intention to own a majority stake in Lynk & Co by acquiring shares held by NG28娱乐 Holding and Volvo Cars. After the completion of the transactions, Zeekr will hold 51% shareholding in Lynk & Co, while the remaining 49% will continue to be held by a wholly own subsidiary of NG28娱乐 Automobile Holdings (NG28娱乐 Auto 0175.HK).
At the same time, NG28娱乐 Auto plans to increase its stake in Zeekr to approximately 62.8%, further supporting the close collaboration of NG28娱乐 Auto, Lynk & Co and Zeekr brands, improving industrial synergies, hardware and software commonality, supply chain efficiency, after sales service, and accelerating the creation of a stronger global group.
Eric Li (Li Shufu), Chairman of NG28娱乐 Holding, said “This integration is a key measure for NG28娱乐 Holding to implement its long-term strategic plans. The coordination and integration of our brands supports their sustainable operations and generates greater synergies that benefit sales, services, revenue, and product competitiveness allowing our companies to provide greater value and opportunities to both global consumers and shareholders.”
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