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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 entities. [10] In September 2022, Shufu's group acquired a 7.6% stake in Aston Martin. [11]
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.
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 ...
Daimler (DAIGn.DE) Chief Executive Dieter Zetsche on Tuesday welcomed Geely [GEELY.UL] Chairman Li Shufu as a new shareholder and said any industrial alliance will depend on whether current China ...
Li Shufu: 61 23.7 +US$4B: The chair of Geely [10] 9: 67 Jack Ma: 61 22.8-US$25.6B: The co-founder of Alibaba Group [11] 10: 79 Huang Shilin: 57–58 20.3 +US$7.4B: The vice-chairman of CATL [12] 11: 82 Pang Kang: 68–69 19.6-US$6.8B: The chairman of Foshan Haitian Flavouring & Food Co [13] 12: 83 Wang Chuanfu: 57–58 19.5 +US$3.2B: The co ...
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