Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Chinese automaker Geely Automobile has offered $2.2 billion to privatize Zeekr, its premium electric vehicle (EV) brand, just a year after its U.S. IPO. The move values Zeekr at $6.52 billion and offers $25.66 per American Depositary Share—13.6% above Tuesday’s close. Zeekr shares surged over 11% in U.S. premarket trading following the announcement.
As of May 7, Geely owns 65.7% of Zeekr and plans to acquire the remaining 34.3%, aiming to merge the brand fully into Geely Auto (HK:0175). The move reflects Geely’s strategy to consolidate operations and reduce internal competition amid intensifying EV price wars in China. Chairman Li Shufu cited the “Taizhou Declaration” as a guiding principle for strategic integration and efficiency.
Founded in 2021, Zeekr targets the premium EV market, leveraging Geely’s in-house technology, from EV platforms to batteries. In Q1 2025, Zeekr sold 41,403 vehicles, a 25% increase year-over-year, surpassing BYD’s premium brand Denza. The brand went public in May 2024 at a $6.8 billion valuation, marking the first major U.S. listing by a Chinese firm since 2021.
However, geopolitical risks loom. Zeekr was recently named in a letter by U.S. lawmakers urging the SEC to delist 25 Chinese companies over alleged military ties, reigniting delisting concerns for over 100 Chinese firms on U.S. exchanges, valued collectively at $1 trillion.
Geely is also restructuring its operations into two core units—Geely Auto for the mass market and Zeekr Group for premium EVs. In March, it merged three R&D units to boost innovation in digital cockpit systems. This streamlining signals Geely’s pivot from expansion to operational focus amid rising global trade tensions and industry disruption.
