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The Latest Breaking News from Li Shufu

For Cars, Geely Still Can’t Break With the Conventional, Chairman Says

Vehicles that run on fossil fuels will remain the preferred choice for most new buyers in the foreseeable future despite the rising popularity of EVs, Li Shufu says

Caixin Global

A battle may be shaping up between the two richest men in the world over who controls the luxury electric car market

The English sports car brand Lotus plans to float its shares on the Nasdaq stock market in the latter half of this year through a reverse merger with a SPAC firm backed by Bernard Arnault.

Fortune

Geely Acquires Major Stake in Smartphone Maker Which Has Alibaba Connection

Billionaire Li Shufu controlled satellite-to-automobile group Geely Automobile Holdings Ltd (OTC:GELYY), purchased a majority stake in Chinese smartphone maker Meizu Technology Co, the Caixin Global reports. Geely's Hubei Xingji Shidai Technology Co division bought a 79% stake in Meizu from Meizu's founder and a unit of Alibaba Group Holding Limited (NYSE:BABA). The financial terms of…

Benzinga

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Geely Founder Li Shufu Takes Control of Smartphone Maker Meizu

Meizu founder Huang Zhang will retain a 9.79% stake while Alibaba’s Taobao is dumping its entire 27.23% holding

Caixin Global

Another Chinese Car Tech Company Aspires To Go Public Via SPAC Merger After DiDi's Debacle

Billionaire Li Shufu-backed car technology company Ecarx Holdings Inc looks to go public via a special purpose acquisition company (SPAC) merger with Cova Acquisition Corp (NASDAQ:COVA). Ecarx, founded in 2017 by Geely Automobile Holdings Ltd's (OTC:GELYY) Shufu and Ziyu Shen, develops software and hardware like digital cockpit and infotainment systems for cars, Bloomberg reports. Ecarx serves both combustion-powered vehicles…

Benzinga

Håkan Samuelsson: outgoing Volvo boss and electric car pioneer

Having ensured the Swedish firm led the switch away from fossil fuels, its former boss is full of praise for Tesla – but has no regrets about filling city streets with SUVs

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