Geely Chairman Li Shufu: No New Auto Plants, Focus on Global Surplus Capacity Utilization

Li Shufu, Chairman of Geely Holding Group: Geely Decides Not to Build New Automobile Production Plants

At the "China Auto Chongqing Forum" held in Chongqing, Li Shufu, Chairman of Geely Holding Group, participated via video link. He stated that the global automobile industry is currently facing severe overcapacity. Geely has decided not to build new automobile production plants and will avoid redundant construction. Instead, Geely aims to fully utilize the global surplus capacity and engage in pragmatic cooperation and resource restructuring to the greatest extent possible. By doing so, Geely can leverage mature quality assurance systems and skilled workers, while also improving the utilization rate of peers' surplus capacity, thereby participating in global market competition with a friendly attitude.