Geely Auto's stock is soaring 5.13% in intraday trading on Thursday, outpacing its earlier gains, as investors react positively to the company's strategic move to take its electric vehicle unit private.

The Chinese automaker has offered to take its Zeekr unit private in a deal valued at $2.2 billion. This decision appears to be driving significant investor interest, pushing Geely's stock price higher. The move to privatize Zeekr could potentially allow Geely to have more control over its electric vehicle strategy and operations.

Market analysts suggest that this strategic decision could streamline Geely's operations and potentially increase its competitiveness in the rapidly growing electric vehicle market. As the automotive industry continues to shift towards electrification, Geely's move is being viewed as a proactive step to strengthen its position in this crucial sector.