Zhejiang Geely Holding Group
Company History
Zhejiang Geely Holding Group History: Founding, Growth & Key Milestones
Founded 1986 in Taizhou, Zhejiang, China
When was Zhejiang Geely Holding Group founded?
Zhejiang Geely Holding Group was founded in 1986 in Taizhou, Zhejiang, China by Li Shufu, making it 40 years old.
- Founded
- 1986
- Founding place
- Taizhou, Zhejiang, China
- Founders
- Li Shufu
- Headquarters today
- Hangzhou, Zhejiang, China
- Milestones documented
- 11 (1986–2026)
- Current CEO
- An Conghui (Andy An)
- Acquisitions
- 4
| Year | Event |
|---|---|
| 1986 | Li Shufu founds Geely in Taizhou, Zhejiang, as a refrigerator parts maker. |
| 1998 | Geely produces its first car, the Haoqing. |
| 2009 | Drivetrain Systems International Acquired |
| 2010 | Geely buys Volvo Cars from Ford for $1.8 billion. |
| 2013 | London Taxi Maker Acquired |
| 2016 | Lynk and Co Launched |
| 2017 | Geely takes stakes in Proton (49.9%) and Lotus (51%). |
| 2018 | Daimler Stake |
| 2021 | Zeekr Launched |
| 2025 | Group sales reach 4,116,321 vehicles, and Zeekr is taken private by Geely Auto. |
| 2026 | Geely releases its One Geely 2030 strategy, Li Shufu hands the Geely Auto chair to An Conghui, and Geely partners with NIO on battery swapping. |
- Where was Zhejiang Geely Holding Group founded?
- Zhejiang Geely Holding Group was founded in Taizhou, Zhejiang, China in 1986.
- Who founded Zhejiang Geely Holding Group?
- Zhejiang Geely Holding Group was founded by Li Shufu.
- When did Zhejiang Geely Holding Group start?
- Zhejiang Geely Holding Group was founded in 1986.
- How old is Zhejiang Geely Holding Group?
- Zhejiang Geely Holding Group is 40 years old as of 2026.
Founding Story
Zhejiang Geely Holding Group was founded in 1986 by Li Shufu, an incredibly ambitious entrepreneur who started his career taking photographs for tourists and extracting silver from discarded electronics. With absolutely zero automotive experience, he started Geely making refrigerator parts, then pivoted to cheap motorcycles in the 1990s. In 1997, defying intense government skepticism, he boldly launched Geely Auto, becoming the first independent, privately-owned automobile manufacturer in Chinese history. By producing incredibly cheap, highly accessible cars for the exploding Chinese middle class, Geely rapidly amassed the massive wealth required to execute its legendary global acquisition spree.
Founders
Li Shufu
Li Shufu (Eric Li) is the founder and chairman of Zhejiang Geely Holding Group. He led the purchase of Volvo Cars in 2010. In 2018 his investment vehicle built up a 9.69% stake in Daimler. On August 18, 2026 he stepped down as chairman of Geely Automobile Holdings and became its honorary chairman for life. Li Shufu was born in 1963. Li, also known as Eric Li, was born on June 25, 1963.
Key Milestones
Li Shufu founds Geely in Taizhou, Zhejiang, as a refrigerator parts maker.
Source: en.wikipedia.orgGeely produces its first car, the Haoqing.
Source: en.wikipedia.orgDrivetrain Systems International Acquired
Geely bought the Australian gearbox maker Drivetrain Systems International in 2009.
Source: en.wikipedia.orgGeely buys Volvo Cars from Ford for $1.8 billion.
Source: en.wikipedia.orgLondon Taxi Maker Acquired
Geely bought Manganese Bronze, the maker of London black cabs, in 2013.
Source: en.wikipedia.orgGeely takes stakes in Proton (49.9%) and Lotus (51%).
Source: en.wikipedia.orgDaimler Stake
Li Shufu disclosed a 9.7 percent stake in Daimler in February 2018.
Source: en.wikipedia.orgGroup sales reach 4,116,321 vehicles, and Zeekr is taken private by Geely Auto.
Source: zgh.comGeely releases its One Geely 2030 strategy, Li Shufu hands the Geely Auto chair to An Conghui, and Geely partners with NIO on battery swapping.
Source: zgh.comMajor Acquisitions
Volvo Car Corporation
2010To gain a global premium brand, safety engineering and European distribution.
Proton (49.9%) and Lotus (51%)
2017To enter the Malaysian market and add a British sports car brand.
Zeekr Intelligent Technology (minority shares)
2025To bring Zeekr fully into Geely Auto and combine product development, manufacturing and sales.
Terrafugia
2017Zhejiang Geely Holding Group acquired Terrafugia in 2017.
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Zhejiang Geely Holding Group Company History FAQ
When, where, and how was Geely originally founded?
Geely was founded in 1986 in Taizhou, Zhejiang, China, by entrepreneur Li Shufu with borrowed family money, initially manufacturing refrigerator cooling components.
When did Geely transition into vehicle manufacturing?
In 1994, Geely began producing motorcycles; in 1997, it produced its first passenger car (the Haoqing), becoming China's first independent private automotive manufacturer in 2001.
What was the landmark acquisition of Volvo Cars in 2010?
In August 2010, Geely completed the historic $1.8 billion acquisition of Sweden's Volvo Cars from Ford Motor Company, shocking global business and revitalizing the iconic Swedish marque.
How did Geely preserve Volvo's brand autonomy post-acquisition?
Li Shufu implemented a 'Volvo is Volvo, Geely is Geely' philosophy, keeping engineering in Gothenburg, funding R&D, and unlocking Volvo's immense growth in the Chinese market.
When did Geely acquire the makers of London's iconic black cabs?
In 2013, Geely acquired Manganese Bronze Holdings, rebranding it as the London EV Company (LEVC) and engineering zero-emission electric TX London black cabs.
How did Geely acquire British sports car icon Lotus?
In 2017, Geely acquired a 51% controlling stake in British sports car manufacturer Lotus and a 49.9% stake in Malaysia's national automaker Proton, funding Lotus's electric hypercar renaissance.
When was premium electric brand Zeekr created?
Geely launched Zeekr in March 2021 as a dedicated luxury electric vehicle brand, completing a successful initial public offering on the New York Stock Exchange (ZK) in May 2024.
How many vehicles does Geely Holding Group deliver globally each year?
Geely Holding Group delivers approximately 3 million vehicles annually worldwide across Geely Auto, Lynk & Co, Zeekr, Volvo Cars, Polestar, Lotus, and smart joint ventures.
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