Source: Polestar
On November 14, 2024, Geely Holding officially announced a series of equity transfer that will see Zeekr Technology with a 51% controlling stake of Lynk & Co and the remaining held by Geely Auto’s wholly-owned subsidiary.
Effectively, this change in equity structure merges the two brands from an organizational standpoint.
Source: Zhejiang Geely Holding Group
At the same time, the company revealed that An Conghui, current President of Zhejiang Geely Holding Group, Chairman of Geely Auto Group, and CEO of Zeekr Intelligent Technology, will take over as chairman of Polestar, replacing Shen Ziyu.
Zhejiang Geely Holding Group is the holding company of major subsidiaries, including passenger car entities Geely Auto Group (Geely, Lynk&Co, Livan, and PROTON brands), Volvo Car Group (Volvo and Polestar brands), Zeekr Intelligent Technology (Zeekr brand), Lotus Group (Lotus domestic and international brands), smart automobile (smart brand), and LEVC (LEVC brand)
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Mr. An joined Geely nearly three decades ago, in 1996, and has rose up the rank to Chief Engineer, General Manager, Vice President, and President.
He has led several construction of manufacturing facilities and participated in the product development and production of top-selling vehicle models at Geely.
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This change can be viewed as a harbinger for further consolidation of management between Zeekr and Polestar.
According to sources at Geely Auto, the management change is an effort to revitalize Polestar sales in China, which have been lackluster, compared to its international success.
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As Mr. An oversaw the remarkable success of Zeekr in China, exceeding 20,000 deliveries in September and 25,000 units in October and leading all emerging pure EV brands with 167,900 vehicles sold year-to-date, his increased responsibilities are given in concert to his professional success.
Geely had previously merged Geometry with Galaxy and is now merging Lynk & Co and Zeekr; Polestar could be next in order to maximize potential synergies across brands.