Geely boss Li Shufu poses next to a Xingyue L SUV on July 20, 2021 at the group’s headquarters in Hangzlou, China. ALY SONG/REUTERS
STORY – The manufacturer, owner of Volvo, Lotus, Smart, is preparing to invest in Renault heat engines.
How far will Geely go, this Chinese group based in Hangzhou in the south-east of the country, whose name is increasingly appearing in the news of Western car manufacturers?
In about ten years, Geely has slipped into the landscape by smoothly taking control of fine European brands: the Swedish Volvo Cars, acquired in 2010 from Ford, Manganese Bronze, the manufacturer of London’s “black cabs”, the Malaysian Proton, itself the owner of English Lotus racing cars. It was again Geely who bought half the capital of Smart from Daimler in 2019, these small cars formerly made in Moselle and now produced in China. He also became the largest shareholder of Mercedes Group with 9.69% of its capital.
Production at lower costs
His road did not stop there. Geely has decided to give more shine to Polestar, the division of Volvo originally dedicated to touring racing, which has since become a brand of luxury electric cars. The private Chinese group has even decided to…
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