HONG KONG (Reuters) -Shares of Chinese automaker Geely Automobile jumped nearly 7% on Thursday after it offered to pay $2.2 billion to privatise its unit Zeekr, just a year after it took the electric vehicle brand public in the United States.

Chinese automaker Geely Automobile has offered $2.2 billion to privatize Zeekr, its premium electric vehicle (EV) brand, just a year after its U.S. IPO. The move values Zeekr at $6.52 billion and offers $25.

The Chinese automaker’s plan comes less than a year after Zeekr’s U.S. initial public offering.