Geely's Zeekr Buyback: Investors Cry Foul

Okay, so you know how China's Geely bought cool car brands like Volvo and Proton? Well, they're trying to buy back their own electric car company, Zeekr. But get this, some early investors think Geely is offering way too little money. Like, a paltry $2.2 billion for a company they think is worth a lot more.

These aren't just any investors either. We're talking big names like CATL and Intel Capital. They basically sent letters saying, 'Hey, this price is kinda insulting. Zeekr is doing way better than some other EV companies out there'. They even pointed out that Zeekr's cash flow and potential for making money are looking good.

It's kinda wild because Zeekr just went public in the US a year ago. And now Geely wants to take it private again and just meld it into Geely Auto. This whole thing is making people wonder about Geely's other companies that are planning to go public, like their ride-hailing service. Will they still do it? IDK, it's making things a bit unclear.

Geely says they're still talking with a special group at Zeekr about the offer. But those investors are basically saying, 'Don't do this deal unless most of the other shareholders agree!' Apparently, Zeekr was valued way higher in past fundraising rounds than what Geely is offering now. Some even think Geely's offer price is way lower than what's typical for these kinds of deals.

Apparently, Geely's founder, Eric Li, is trying to make the whole company more focused and cut costs, especially because the car market in China is super competitive right now. Zeekr is actually one of Geely's best performers, selling more cars than even BYD's fancy brand. But even with Zeekr doing well, the investors just aren't happy with the offer. It'll be interesting to see how this all shakes out, right?