“Li Shufu: The Billionaire behind Geely”

Overview

Li Shufu is a Chinese billionaire businessman considered as one of the most influential figures in the automotive industry. He is the founder and chairman of Geely Holding Group, which owns several car brands like Volvo, Lynk & Co, and London Electric Vehicle Company (LEVC). Under his leadership, Geely has become one of the leading automakers in the world. Apart from his successful business ventures, Li Shufu is also known for his philanthropic efforts, particularly in education.

Early Life and Education

Li Shufu was born on October 25, 1963, in Taizhou, Zhejiang province, China. His father was a farmer, and his mother was a teacher. Li grew up in a rural area where he experienced the hardships of poverty. Despite this, he was determined to pursue higher education. He attended Hangzhou Dianzi University and earned a degree in electrical engineering in 1987.

Career and Achievements

After graduation, Li Shufu worked for a refrigerator manufacturer before starting his own company, Geely, in 1986. Initially, the company manufactured refrigerator parts and acquired a failed state-owned motorcycle manufacturer. However, his true success came in 1998 when he decided to venture into the automotive industry. Geely released its first car, a budget sedan named the “Haoqing,” in 1998, which was a hit in China. Geely continued to innovate and improve its products, which led to the acquisition of Volvo in 2010.

Under Li’s leadership, Geely has made numerous acquisitions and expanded its reach around the world. Geely owns several other car brands, including Lotus, Proton, and Terrafugia, a flying car manufacturer. In addition, Geely has made significant investments in the development of electric and autonomous vehicles.

Li Shufu’s contributions to the automotive industry have been recognized with numerous awards and honors. In 2018, he was named China’s Automotive Industry Person of the Year. He also holds several honorary doctorates, including one from the University of Nottingham.

Personal Life

Li Shufu is married with two children. His son, Li Xingxing, is the CEO of Geely Technology Group, a subsidiary of Geely Holding Group. Li Shufu is known for his frugality and humble lifestyle despite his immense wealth. He reportedly prefers to ride bicycles and drive his own Geely cars.