This article only represents the author's own views.
Anyone who thought they were buying into a luxury new energy vehicle (NEV) brand when they purchased IPO shares of Zeekr Intelligent Technology Holding Ltd. (ZK.US) in May got a rude awakening last week. That’s when the recently listed company controlled by Chinese auto giant Geely informed the world that it was merging with its more down-market Lynk & Co. sister brand that is a relative latecomer to China’s NEV market.
This deal shouldn’t come as a complete shock to anyone who follows Chinese companies or Geely in particular. Most Chinese companies traded in the U.S. and Hong Kong are controlled by a single individual or parent, and minority shareholders typically have little or no say in big strategic decisions.