China’s Zeekr and Lynk & Co chase 1 million annual sales target after merger

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That’s according to An, who is also Geely’s president, and was speaking to analysts on Thursday. The comments were delivered as Geely announced that Zeekr will acquire a 51% stake in Lynk & Co, a Chinese-Swedish brand that has been 30% owned by Volvo since its founding in 2017. The deal could be the boldest move yet by Geely in a reorganization plan designed to reduce costs, support profitability, and put a stop to internal competition. Zeekr and Lynk & Co lost RMB 3.8 billion and RMB 250 million during the first half of this year, respectively. [TechNode reporting, Zeekr release, Reuters]