Core Viewpoint - The merger between Geely Automobile and Zeekr aims to enhance Geely's global competitiveness in the smart electric vehicle sector, leveraging Zeekr's strengths in the luxury electric vehicle market [2]. Group 1: Merger Details - Geely Holding Group announced the signing of a merger agreement with Zeekr Intelligent Technology, where Geely will acquire all outstanding shares of Zeekr, allowing shareholders to choose cash or Geely shares as compensation [2]. - The merger is intended to cover various powertrain forms, including fuel, pure electric, plug-in hybrid, and hydrogen electric, thereby achieving a comprehensive market layout across mainstream, mid-to-high-end, and luxury segments [2]. Group 2: Financial Implications - Zeekr has invested a total of 22.7 billion yuan in R&D over the past four years, with an expected investment of nearly 10 billion yuan in 2024, contributing to a cumulative loss of 26.223 billion yuan [2]. - The merger is expected to improve strategic execution efficiency, innovation capability, and profitability by eliminating redundant investments [2]. Group 3: Strategic Direction - The integration with Geely is seen as a way for Zeekr to elevate its brand experience and focus on high-end development, moving away from the pure electric market [3]. - The launch of the Zeekr 9X, which features a hybrid architecture, marks a significant step towards entering the luxury ultra-high-end market [3].

Core Viewpoint - Zeekr is the fastest luxury electric brand to achieve the milestone of 500,000 vehicle deliveries, reaching this target in just 44 months since its inception with the Zeekr 001 model [2][3] Group 1: Market Position and Strategy - Zeekr's average vehicle price is nearly 300,000 yuan, with the highest model priced close to 900,000 yuan, positioning itself in the luxury segment traditionally dominated by brands like BMW, Benz, and Audi (BBA) [3] - The company has launched six models in three years, indicating a commitment to building a sustainable product matrix rather than relying on a single hit model [3][4] - The merger with Lynk & Co has established a new strategic direction, with Zeekr focusing on the high-end luxury market while Lynk & Co targets the 200,000 yuan segment [4] Group 2: Technological Advantages - Zeekr has developed the SEA architecture, a fully proprietary electric vehicle platform, which serves as the foundation for its high-end electric strategy [5] - The company has invested 20 billion yuan over five years to create a robust technological ecosystem, enhancing its competitive edge [5] - Zeekr's integration of an 800V high-voltage architecture allows for ultra-fast charging capabilities, with the V4 charging station being the first of its kind globally [6][8] Group 3: Product Development and Innovation - The Zeekr 001 has successfully combined performance, comfort, and luxury, creating a new category of luxury shooting brake vehicles [12] - Following the success of the Zeekr 001, the company entered the luxury MPV market with the Zeekr 009, which has outperformed traditional fuel MPVs in sales [12][14] - The upcoming Zeekr 7X is designed for global markets, featuring advanced technology and performance characteristics that rival high-end luxury vehicles [14][15] Group 4: Future Outlook and Integration - The completion of the merger with Lynk & Co and potential privatization under Geely's umbrella signifies a strategic consolidation aimed at enhancing resource efficiency and brand positioning [16][18] - Zeekr is evolving its technology strategy to encompass a broader range of energy solutions beyond pure electric, indicating a shift towards a more comprehensive approach to the luxury electric vehicle market [17][18] - The company aims to leverage its accumulated technology and experience to drive innovation and growth within the Geely ecosystem, marking a transition from a startup to a core player in the high-end electric vehicle sector [17][18]