Geely says it will stop building factories and start borrowing everyone else’s instead
Li Shufu, the billionaire chairman of Geely Holding Group and the man who bought Volvo Cars from Ford for $1.8 billion in 2010, has arrived at a conclusion that many of his peers in the global automotive industry have been slower to reach: the world has too many car factories, and building more of them […]<br /> This story continues at The Next Web [...]
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Ford and Geely will build EVs together at Ford’s plant in Spain. Ford owns 66%, Geely 34%.
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Volvo’s parent Geely is selling a $15,000 electric SUV with massaging seats and 600 km of range
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Geely will purge excess factory capacity and focus on becoming a global competitor to BYD
Geely Auto chairman Li Shufu told the Chongqing Auto Show on Friday that the company will assess excess capacity across all its units and determine whether to close, suspend, merge, or sell redundant [...]