Dating back to 1927, when its first model was built, Volvo Group used to build trucks and cars, as well as marine and aero engines. In 1999, it sold its car business to Ford Motor for US$6.45 billion, and focused on commercial vehicles. Ford sold Volvo to China’s Geely in 2010.

  • Geely will acquire a 17 per cent stake in Aston Martin Lagonda Global Holdings to become UK sports car maker’s third largest shareholder
  • Aston Martin’s shares rise as much as 25 per cent in early trading in London

China’s Geely is planning a big investment to turn the maker of London’s iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles.


Chinese carmaker Geely has taken a nearly 8 per cent stake in Aston Martin, the maker of ultra-luxury sports cars favoured by fictional secret agent James Bond.


European companies including Dutch consumer-electronics retailer Coolblue and health care property company Icade Sante have put their IPO plans on ice in recent weeks as investors became picky about where they put their money amid a flurry of deals.

Renault is returning to the world’s largest passenger car market with a new focus and partnership with Geely, after abandoning a pandemic-hit venture in Wuhan in April last year.

Geely Automobile Holdings, China’s largest private carmaker, has decided to scrap a secondary listing on Star Market, the Shanghai Stock Exchange’s Nasdaq-like board for start-ups, it said on Friday.

Billionaire Li Shufu has been forging ties with a vast array of companies as Geely pushes to stay abreast of the two great shifts hitting the industry: electrification and automation.

Hangzhou-based Geely, owner of Volvo Cars, plans to launch commercial low-orbit satellites by the end of this year, which would give it an edge in providing an accurate navigation system for autonomous cars.

Chinese automobiles tycoon Li Shufu plans to merge Geely Automobile Holdings with Volvo Cars, which he acquired from Ford Motors in 2010, in a move that will create a global car manufacturing powerhouse.

Geely’s Li Shufu is looking to transform the Chinese conglomerate from a carmaker into a provider of transport services such as car-sharing, flying taxis and high-speed trains

South Carolina officials hopeful ‘phase one’ deal can remove uncertainty that has raised tension with its largest export market and caused companies to delay investment decisions.


Sales of 10 premium brands, which includes BMW, Mercedes-Benz, Audi, Volvo and Lexus, have risen in China compared to the 11 per cent decline in overall car volumes in the year’s first eight months.

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