China's Geely said electric vehicle maker ZEEKR Intelligent Technology (NYSE:ZK) plans to take control of Lynk & Co as the first big restructuring move in a major reset of the holding company's automotive group.

China's Geely said on Thursday its premium electric vehicle maker Zeekr plans to take control of Lynk & Co, a sister brand - the first big restructuring move in a planned overhaul for the sprawling automotive group.

Zhejiang Geely Holding Group Co. plans to integrate its premium electric vehicle brand Zeekr with its smart car marque Lynk & Co. in a restructuring aimed at eliminating duplication and saving costs,

Zeekr and Lynk have some overlap with similar products and pricing, cannabilising each other's sales, analysts have said. Premium electric vehicle maker Zeekr will take control of

Chinese premium electric vehicle maker Zeekr will take control of Lynk & Co, a sister brand owned by Geely and Volvo Cars, two sources with direct knowledge of the plans said.