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Lynk & Co

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Lynk & Co Automotive Technology Co., Ltd.
Company typeJoint venture
IndustryAutomotive
Founded2016; 8 years ago (2016)
Headquarters
Gothenburg
,
Sweden
Area served
  • China
  • Europe
  • Middle East
Key people
Nicolas Lopez Appelgren (CEO)[1]
ProductsAutomobiles
Owner
Chinese name
Simplified Chinese领克
Hanyu PinyinLǐng kè
Website

Lynk & Co Automotive Technology Co., Ltd.,[2] trading as Lynk & Co (Chinese: 领克; pinyin: Lǐng kè) is a Chinese automobile manufacturer and brand co-owned by Zeekr and Geely Auto Group currently.[3][4]

The brand was founded in Gothenburg in 2016.[5]

Within the Geely group, the brand positioned itself as a startup-like company by introducing innovative sales models such as direct-to-consumer sales model and subscription model to market its vehicles.[6] Lynk & Co shares its technology such as engine and platform with Volvo and Geely vehicles.[7]

Name

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The name Lynk & Co was coined from an internal code for the brand, "Lynk", which refers to interconnected cars, while the "& Co" part was a meaningless moniker added to give the name a "young vibe".[7] Its full name was conceived from a casual conversation between Geely executives in a taxi, where they drew inspiration from fashion labels such as Pull & Bear and Abercrombie & Fitch to suit the global market. The brand name was formalised within just three days after the conversation.[8]

Initially, American automaker Ford raised objections to the name due to its similarity to its luxury brand, Lincoln.[9] Lynk & Co argued it was an unintentional coincidence, and Ford later withdrew its threat of legal action.[8]

History

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Four Lynk & Co cars

Lynk & Co was launched in 2016 with three production models, all based on the Compact Modular Architecture (CMA) developed by China Euro Vehicle Technology (CEVT) and used also by Volvo, Polestar and Geely.[7] According to Geely designer Peter Horbury, the intention was "to position it between Volvo and Geely as a so-called 'near premium' brand".[10]

In August 2017, Zhejiang Geely Holding, Geely Automobile Holdings and Volvo Car Group signed an agreement at Geely Auto's Hangzhou Bay R&D Center to establish the Lynk & Co joint venture. Under this agreement, Geely Auto controls 50% of Lynk & Co, Volvo held 30%, and Zhejiang Geely Holding held the remaining 20%.[11]

The first product announced by Lynk & Co was the 01 crossover, the production version first shown at the 2017 Auto Shanghai show.[12] Production of the 01 started in China in 2017, in Volvo's production plant in Luqiao district in the city of Taizhou, China,[13][14] sharing the same production line as the Volvo XC40 and the Polestar.[15][16] Since then, Lynk & Co have used three other manufacturing plants. The 02, 02 Hatchback and 03 are manufactured at the Zhangjiakou plant, while the 01, 06, 08 and 09 are manufactured at the Meishan plant 50 km from Ningbo.[17] The 05 and 07 is manufactured at Geely's Luqiao CMA Super Factory.

A concept version of the second model, the 03 sedan, was first shown along with the production 01 in Shanghai.[12][18] The third model, also based on the platform shared with the Volvo XC40, is the 02. Smaller than the 01, it is a hatchback with a crossover-like styling.[19][14] Lynk & Co had originally planned to launch the Lynk & Co 04 as a compact hatchback,[20] however, by 2020 it was cancelled and the nameplate was devoted to an electric scooter instead.

In September 2020, at the Beijing Auto Show, the Lynk & Co Zero concept was revealed to the public. It was expected to be the first fully electric vehicle from Lynk & Co, but instead it became the first model from the new electric vehicle brand, Zeekr, as the Zeekr 001.[21]

Restructuring in 2024

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In November 2024, in response to Geely Holding Group's restructuring strategy, the equity structure of Geely Auto, Zeekr, and Lynk & Co have been further optimized. [22]

Geely Holding Group (Geely) announced to transfer its 11.3% stake in Zeekr Intelligent Technology (Zeekr) to Geely Automobile Holdings (Geely Auto). Geely Auto's shareholding ratio in Zeekr increased to 62.8%.[23][24]

Zeekr announced to purchase 20% stake of Lynk & Co from Geely Auto for 3.6 billion yuan and acquire Volvo Car's 30% stake in Lynk & Co for 5.4 billion yuan.[25] This made Zeekr hold 51% of Lynk & Co in total, while the remaining 49% of Lynk & Co shares continues to be held by Geely Auto.[23][24]

Headquarters

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Lynk & Co has its headquarters near Karlatornet in Gothenburg, Sweden.[26] In 2022, the headquarters building won architectural award for best interior design.[27][28]

Marketing

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A Lynk & Co showroom in a shopping mall in Shenzhen

Lynk & Co uses a direct-to-consumer sales model in most markets, in contrast to the traditional dealership model. The brand was influenced by Tesla which has had success doing direct sales.[29] Each car is ordered directly by the buyer and customized using equipment packages, either online or via a retail outlet.[30] Lynk & Co also offers vehicle subscription services to customers.[31]

The brand opened 221 retail outlets in China as of 2019, and expanded to Europe in 2020.[32] In China, Lynk & Co vehicles are distributed by Lynk & Co Auto Sales Co., Ltd.

Overseas markets

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Lynk & Co plans to expand further to several European countries.[33] The brand only offers electric and plug-in hybrid models in Europe.[34] While the sales are steady in China, its European business were making huge loss and in total for 2020–2021 the company made a loss of 1 billion Swedish kronor, or about 100 million euros.[35]

In Europe, Lynk & Co is only available in Sweden, the Netherlands, Belgium, Germany, Spain, France, and Italy. In 2024, Lynk & Co appointed automobile group SEEAG to expand their business in southeast Europe, starting with Romania and Greece, then followed by Slovenia, Croatia, Bulgaria, Serbia, Bosnia-Herzegovina, Montenegro, North Macedonia, Kosovo, Albania, and Moldova during 2024.[36][37]

In 2021, Geely announced that the Lynk & Co brand will enter Russia, Malaysia, Australia, and New Zealand by 2025.[38] In May 2023, Lynk & Co entered Middle Eastern markets, starting with Kuwait, Oman, Saudi Arabia and Qatar.[39][40]

Since 2017, Lynk & Co has been considering entering the US market, with plans to establish a San Francisco headquarters by 2020. However, progress has been minimal. In 2023, the company revealed plans to introduce its first electric vehicle in the US by 2024, utilizing the subscription-based strategy that it already deployed in Europe.[41]

Products

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Current models

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Motorsport

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Lynk & Co 03 TCR of Cyan Racing in the 2023 TCR World Tour
Main article: Cyan Racing

Since 2019, Lynk & Co has sponsored Cyan Racing (formerly Polestar Racing) and entered the WTCR World Touring Car Cup (now the TCR World Tour), becoming the first Chinese brand to take part in an FIA championship. The team ran four Lynk & Co cars in the 2019 WTCR, claiming the teams' title and Yvan Muller finishing third in the drivers' championship.[44]

Sales

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Year Sales[45][46]
2017 6,012
2018 120,414
2019 128,066
2020 175,456
2021 220,516
2022 180,127
2023 220,250

See also

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References

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  1. ^ Gibbs, Nick (3 January 2024). "Geely's Lynk & Co brand appoints new international boss". Automotive News Europe. Retrieved 14 April 2024.
  2. ^ "Interim Report 2024" (PDF). Geely Automobile Holdings. Retrieved 28 October 2024.
  3. ^ "Volvo Cars börjar tillverka Lynk & Co". Svenska Dagbladet (in Swedish). 26 March 2018. Retrieved 23 December 2023.
  4. ^ "Lynk & Co revolutionerar bilindustrin med uppkopplade bilar". dagensinfrastruktur (in Swedish). 24 August 2021. Retrieved 23 December 2023.
  5. ^ Söderholm, Erik (30 September 2020). "Nu lanseras Volvos syskonmärke i Sverige". Vi Bilägare (in Swedish). Retrieved 23 December 2023.
  6. ^ Holmes, Freddie (10 September 2019). "Interview: Alain Visser, Chief Executive, Lynk & Co International". Automotive World. Retrieved 13 April 2024.
  7. ^ a b c Feijter, Tycho De. "Volvo And China's Geely Collaborate On 'Connected' Car Brand, Lynk & Co". Forbes. Retrieved 13 April 2024.
  8. ^ a b Holmes, Freddie (10 September 2019). "Interview: Alain Visser, Chief Executive, Lynk & Co International". Automotive World. Retrieved 13 April 2024.
  9. ^ Posky, Matt (31 July 2017). "Ford Challenges Lynk & Co for Sounding Too Much Like Lincoln". thetruthaboutcars.com. Retrieved 13 April 2024.
  10. ^ "Lynk & Co – Case by Lynxeye". lynxeye.com. Retrieved 1 October 2023.
  11. ^ "Geely And Volvo Cars Sign Joint Venture Agreements on Technology-Sharing and Development of LYNK & CO". Media Center - Zhejiang Geely Holding Group. Retrieved 21 May 2024.
  12. ^ a b "Lynk & Co reveals production-ready 01 SUV at Shanghai Motor Show". Auto Express. 19 April 2017. Retrieved 5 June 2018.
  13. ^ Duff, Mike (20 October 2016). "Volvo's Geely Launches New Auto Brand, Lynk & Co, and It's Headed to the U.S." Car and Driver. Archived from the original on 25 October 2016. Retrieved 21 October 2016.
  14. ^ a b "Lynk & Co Unveils the 02 SUV, Its Third Vehicle". Car and Driver. 27 March 2018. Retrieved 5 June 2018.
  15. ^ "Volvo acquires Luqiao plant from Geely to expand local output". Automotive News. 21 October 2021. Retrieved 1 October 2023.
  16. ^ "Volvo Cars starts Chinese production of XC40 small SUV in multi-brand Luqiao plant". media.volvocars.com. Retrieved 1 October 2023.
  17. ^ Bobylev, Denis (28 August 2023). "Lynk & Co 08 rolled off the production line in China with 593 hp and 1,400 km of range". CarNewsChina.com. Retrieved 7 December 2023.
  18. ^ "Lynk & Co Debuts 03 Concept and Announces Lifetime Warranty, Free Connectivity". Car and Driver. 17 April 2017. Retrieved 5 June 2018.
  19. ^ "Lynk & Co 02". Car and Driver. 1 June 2018. Retrieved 5 June 2018.
  20. ^ "2019 Lynk & Co. 04 spy shots". Motor Authority. 18 January 2019. Retrieved 11 September 2021.
  21. ^ Ruffo, Gustavo Henrique (3 October 2023). "ZEEKR's Main Mission Is to Detach From Lynk & Co, and ZEEKR X Represents the First Step". autoevolution. Retrieved 13 April 2024.
  22. ^ "Geely Holding restructures equity stakes in ZEEKR, Lynk & Co". Gasgoo. Retrieved 14 November 2024.
  23. ^ a b 澎湃新闻 (14 November 2024). "吉利旗下极氪、领克"整合"：极氪斥资超93亿元获领克51%股权". finance.sina.com.cn. Retrieved 14 November 2024.
  24. ^ a b 界面新闻 (14 November 2024). "极氪与领克合并，吉利从大扩张走向大整合". finance.sina.com.cn. Retrieved 14 November 2024.
  25. ^ "Volvo Cars sells 30 per cent stake in Lynk & Co to Zeekr". www.media.volvocars.com. Retrieved 14 November 2024.
  26. ^ "Kinesiskt bolag öppnar huvudkontor på Hisingen". helahisingen.se (in Swedish). 22 December 2020. Retrieved 23 December 2023.
  27. ^ Magnusson, Johan (24 April 2023). "Mobility brand strived for "perfect imperfection" when designing its Gothenburg HQ". Scandinavian MIND. Retrieved 23 December 2023.
  28. ^ Kesselfors, Sanna (22 March 2017). "Link vinner internationellt arkitekturpris". Byggnyheter (in Swedish). Retrieved 23 December 2023.
  29. ^ "Lynk & Co Brand to Do without Dealerships, Sell "Smartphones on Wheels"". Car and Driver. Archived from the original on 29 November 2022. Retrieved 24 October 2016.
  30. ^ "Lynk&Co 01 SUV gets Geely's new global brand rolling | Autocar". autocar.co.uk. Autocar. 19 October 2016. Retrieved 24 October 2016.
  31. ^ "Lynk & Co will "change the industry" with Netflix-style service for cars says Alain Visser". Dezeen. 23 April 2019. Retrieved 10 October 2019.
  32. ^ "Lynk & Co sold 120,414 cars, established 221 retail outlets in 2018 – first European stores to open in 2020 – paultan.org". Paul Tan's Automotive News. 28 January 2019. Retrieved 1 December 2023.
  33. ^ "Lynk & CO looks to further European growth". Automotive News Europe. 23 May 2023.
  34. ^ "Lynk & Co. decide against Belgian production | electrive.com". www.electrive.com. Retrieved 13 April 2024.
  35. ^ Lindgren, Patrik (29 August 2022). "Lynk & Co blöder i Europa – miljardförlust". Teknikens Värld (in Swedish). Retrieved 1 October 2023.
  36. ^ Angel, Sergeev (14 February 2024). "Lynk & Co expands European presence, not coming to UK yet".
  37. ^ Sempill, John (13 February 2024). "Lynk & Co satsar stort: "Vi ska expandera vår närvaro och leverera riktigt bra bilar"". auto motor & sport (in Swedish). Retrieved 13 April 2024.
  38. ^ Quick, Jack (20 March 2023). "Lynk & Co 08: Could this Chinese SUV come to Australia?". CarExpert. Retrieved 13 April 2024.
  39. ^ "Lynk & Co 03 and 03+ Models are Ready to Make Their Mark in the Middle East". www.businesswire.com. 15 May 2023. Retrieved 13 April 2024.
  40. ^ "Lynk & Co's Dazzling Launch with NBK Group in Qatar". www.prnewswire.com. 8 October 2023. Retrieved 13 April 2024.
  41. ^ Johnson, Peter (2 March 2023). "A new EV brand is prepping to enter the US from the owners of Polestar and Volvo". Electrek. Retrieved 14 April 2024.
  42. ^ "Lynk & Co 7-Seater SUV Prototype Resurfaces on Public Roads". 12 July 2019.
  43. ^ Bell, Sebastien (19 April 2021). "Lynk & Co Turns The Volvo XC90 into The New 09 Plug-In Hybrid SUV". Carscoops. Retrieved 19 April 2021.
  44. ^ Rodgers, Richard (16 December 2019). "History is made as Lynk & Co becomes first Chinese brand to power an FIA world title win". FIA WTCR | World Touring Car Cup presented by OSCARO. Archived from the original on 18 December 2019. Retrieved 18 December 2019.
  45. ^ "MarkLines Co., Ltd". www.marklines.com. Retrieved 1 December 2022.
  46. ^ "新聞". www.geelyauto.com.hk. Retrieved 9 January 2023.
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