Zhejiang Geely Holding Group
Acquisitions
4
Major Deals Covered
$4.2B
Disclosed Deal Value
Zhejiang Geely Holding Group's largest disclosed acquisition here is Zeekr Intelligent Technology (minority shares) for $2.4B in 2025. This page covers 4 major deals from 2010 to 2025, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Volvo Car Corporation | 2010 | $1.8B | To gain a global premium brand, safety engineering and European distribution. |
| Proton (49.9%) and Lotus (51%) | 2017 | Undisclosed | To enter the Malaysian market and add a British sports car brand. |
| Zeekr Intelligent Technology (minority shares) | 2025 | $2.4B | To bring Zeekr fully into Geely Auto and combine product development, manufacturing and sales. |
| Terrafugia | 2017 | Undisclosed | Zhejiang Geely Holding Group acquired Terrafugia in 2017. |
2025
$2.4B
To bring Zeekr fully into Geely Auto and combine product development, manufacturing and sales.
Zeekr became a wholly owned subsidiary of Geely Automobile Holdings.
Completed December 22, 2025, and Zeekr was delisted from the NYSE.
2017
To enter the Malaysian market and add a British sports car brand.
Proton began building models based on Geely designs, and Lotus moved towards electric vehicles through Lotus Technology.
Lotus Technology later listed on Nasdaq in 2024.
2017
Zhejiang Geely Holding Group acquired Terrafugia in 2017.
2010
$1.8B
To gain a global premium brand, safety engineering and European distribution.
Volvo kept its Gothenburg headquarters and management, and it co-developed the CMA architecture with Geely.
Volvo Cars remains Geely's main European brand.
Growth is centred on new energy vehicles, which made up 2.293 million of the group's 4.116 million sales in 2025, and on overseas markets. The group is also simplifying its structure: Geely Auto took Zeekr private in December 2025 so it could combine product development, manufacturing and sales. It also works with partners such as Renault (through the Horse Powertrain joint venture) and, from September 2026, NIO on charging and battery swapping.
Geely Holding is a holding company rather than a single carmaker. Most of its volume comes from Geely Automobile Holdings, the Hong Kong-listed unit that sells Geely, Geely Galaxy, Lynk & Co and Zeekr vehicles; that unit sold 3,024,567 vehicles in 2025 and reported revenue of ~$48 billion (RMB 345.2 billion). Separately listed or partly owned affiliates such as Volvo Cars, Polestar and Lotus Technology serve premium and performance segments in Europe and other export markets, while smart is run as a joint venture with Mercedes-Benz and LEVC, Proton and Farizon cover taxis, the Malaysian market and commercial vehicles. The group shares vehicle architectures, powertrains and purchasing across brands. Its January 2026 strategy, called One Geely, targets deeper coordination between these brands.
In August 2010, Geely completed the historic $1.8 billion buyout of Volvo Cars from Ford, transforming Geely from a domestic budget automaker into a respected global automotive powerhouse.
Geely acquired a 51% stake in Lotus (alongside 49.9% of Malaysia's Proton) to gain world-class lightweight chassis engineering and fund Lotus's transition into an ultra-luxury electric brand.
In 2013, Geely acquired British cab manufacturer Manganese Bronze for £11 million, modernizing it as the London EV Company and building the all-electric TX range-extended black cab.
In February 2018, Li Shufu acquired a 9.69% stake in Daimler AG (Mercedes-Benz) for roughly $9 billion via open-market equity derivatives, becoming Daimler's single largest shareholder.
Geely acquired a 79% controlling stake in Meizu to bring world-class mobile operating system design and software talent in-house, creating the seamless Flyme Auto vehicle cockpit OS.
Geely acquired US-based flying car startup Terrafugia to research vertical takeoff and urban air mobility technologies, later merging tech into its Volocopter partnership.
In 2018, Geely acquired a 52% majority stake in online trading and fintech specialist Saxo Bank, expanding group treasury management and automotive financing operations.
Geely preserves the cultural identity and headquarters of acquired heritage brands, infuses them with capital and access to China's supply chain, and unlocks massive manufacturing synergies.
Compare corporate acquisition records, deal values, and strategic targets
Explore Zhejiang Geely Holding Group
Core profile pages, founders and related research hubs for this company.