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In 2018, according to the Financial Times, Li became Daimler's largest shareholder, with a 9.7% stake in the German automaker. [9] In March 2020, Li was in talks to merge Volvo with Geely in a move to create a global automaker. Both Volvo and Geely were owned by Li's investment fund Zhejiang Geely Holding Group, but operated as separate ...
Geely and Guorun later created several other joint ventures. [20] In January 2004, Li Shufu bought controlling shares in Guorun, [20] and in March 2004, the company was renamed Geely Automobile Holdings Limited. [21] This strategy was seen as a "backdoor" entry into the Hong Kong stock market, providing a means for the company to raise funds ...
Geely was established in 1986 in Ningbo, Zhejiang by Li Shufu as a refrigerator parts manufacturer located in Taizhou, Zhejiang. To start the company, Li Shufu had to borrow funds from his family. [15] [28] In 1994, Geely transitioned into the motorcycle industry by acquiring a state-run firm, and started producing China's first scooter. [29]
Geely is part of a sprawling auto empire owned by Zhejiang Geely Holding Group, No. 185 on Fortune’s Global 500 and founded by Li Shufu in 1986. Geely Automobile Holdings is the group’s Hong ...
SHANGHAI/BEIJING (Reuters) - When Daimler announced that Li Shufu had acquired almost 10 percent of the automaker last Friday, it caught financial markets - and German regulators - by surprise.
The following is a list of vehicles under the Geely Auto Group business unit within the holding company Zhejiang Geely Holding. The list does not include vehicles from other brands owned by Zhejiang Geely Holding such as Volvo Cars, Polestar, Smart, Lotus, Livan Automotive and Farizon. This list also does not include Proton, a Geely Auto Group ...
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Although it was rumoured that Volkswagen would buy Volvo Cars, and despite initial denials, the company Geely Holding Group was ultimately selected to take over the Swedish automaker. [30] Geely Holding allegedly bid about US$1.5 billion to take over Volvo, with Goldman Sachs investing HK$2.59 billion (US$334 million) in the holding company.