On December 3rd, Red Star Capital Bureau reported that Lin Jinwen, Vice President of Extreme Krypton Intelligent Technology, posted on Weibo today that after the strategic integration of Extreme Krypton (ZK. US) and Lynk&Co, the company entity of "Zhejiang Extreme Krypton Intelligent Technology Co., Ltd." has not changed. After the integration, the new company is referred to as "Extreme Krypton Technology Group", which has dual brands of Extreme Krypton Automobile and Lynk&Co Automobile, and strives to create a high-end luxury new energy vehicle group with annual sales of millions of yuan through two years of hard work.
On November 14th, Geely Holding announced that it had optimized the equity structure of Lynk&Co to promote comprehensive strategic synergy between Jike and Lynk&Co. Geely Holding will transfer its 11.3% stake in Jike to Geely Automobile. After the transaction is completed, Jike will hold 51% stake in Lynk&Co, while the remaining 49% stake in Lynk&Co will continue to be held by a wholly-owned subsidiary of Geely Automobile.
At the Q3 2024 earnings conference call of Jike, An Conghui, President of Geely Holding Group and CEO of Jike Technology Group, predicted that through maximizing collaboration, the company's R&D investment will be reduced by 10% -20%, BOM costs will be reduced by 5% -8%, and support and service department expenses will be reduced by 10% -20%.