Geely targets asset consolidation with Zeekr merger

China’s new vehicle market faces considerable uncertainties in the wake of increased tariffs from Europe, as well as other key markets, and the all-out trade war with the US. AlixPartners has warned that its export market will slow in 2025, largely due to geopolitical uncertainty. At home, the price war has stabilised, and incentives are the new weapon of choice. The overall market is consolidating, with 14 players folding in 2024. Capacity utilisation across the industry is just 50%, adding financial pressure for those manufacturers that lack scale. For all local players, it’s time to make sure their house is in order.

At Zheijang Geely Holding Group, that means bringing Zeekr back within the fold.