Zhejiang Geely Holding Group
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Company History
Founded 1986 in Hangzhou, Zhejiang, China
In 1986, Li Shufu started with a small refrigerator parts workshop in Taizhou, telling skeptics that 'a car is just four wheels, two sofas, and an engine'; 24 years later, he bought Volvo from Ford for $1.8 billion.
Li Shufu establishes Geely as a refrigerator parts manufacturing workshop in Taizhou, Zhejiang province, with family savings.
Geely enters automobile manufacturing, producing China's first privately manufactured passenger car, the Haoqing hatchback, in 1998.
Geely Automobile Holdings Limited goes public on the Hong Kong Stock Exchange (HKEX: 0175), unlocking international equity financing.
Geely completes the acquisition of 100% of Volvo Car Corporation from Ford Motor Company for .8 billion, shocking global business circles.
Geely and Volvo unveil Lynk & Co, an innovative mobility brand utilizing the co-developed Compact Modular Architecture (CMA) and subscription retailing.
Li Shufu acquires a 9.69% voting stake in Mercedes-Benz Group AG for billion, becoming its largest individual shareholder.
Launches Zeekr as an ultra-premium smart electric vehicle brand, debuting the Zeekr 001 luxury electric shooting brake built on the SEA platform.
Zeekr successfully lists on the NYSE, raising million as the first major Chinese electric vehicle maker to go public in the US since 2021.
Li Shufu executed the most audacious cross-border acquisition in Chinese industrial history, buying 100% of Swedish luxury carmaker Volvo from Ford Motor Company for .8 billion in cash.
Acquired a 51% controlling stake in legendary British sports car maker Lotus Cars and a 49.9% stake in Malaysian national automaker Proton from DRB-HICOM.
Li Shufu acquired a 9.69% stake in Daimler AG (now Mercedes-Benz Group) through an open-market structured transaction for approximately billion, becoming the German titan's largest individual shareholder.
Since its establishment in 1986, Zhejiang Geely Holding Group expanded from an early-stage venture into a recognized leader in Automotive / Conglomerates & Electric Vehicles, overcoming key market challenges.
Over its history, Zhejiang Geely Holding Group executed decisive strategic pivots toward scalable monetization and digital distribution, securing its current market leadership.
By continually modernizing operations and embracing workflow automation, Zhejiang Geely Holding Group maintains resilience through changing technological and economic cycles.