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  • Billionaire Li Shufu creates China's first Global Carmaker with Geely Volvo merger of Engine Production units

    8 days ago - By Luxuo

    With a net worth of $13.2 billion, Li Shufu, is a Chinese billionaire businessman, and the chairman of Zhejiang Geely Holding Group Co. Ltd. and Volvo Cars.
    Chinese billionaire Li Shufu, owner of Geely Automobile, the second largest private automobile manufacturer in China is in talks to merge their engine operations with Swedish car maker Volvo Cars AB, in essence creating China's first global auto maker.
    Li's global ambitions for Chinese automotive manufacturing goes back as early as 2010 when Geely first bought Volvo from Ford for $1.8 billion and then followed up with a slew of other...
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