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

Published: Jun 9, 2025 11:25

Save

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.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Cao Bang, Vietnam to Apply New Tax Floor for Gold, Tin and Mineral Resources

To enhance the management of mineral exploitation and processing activities, the Cao Bang Provincial People’s Committee has issued Decision No. 2026/QD-UBND, approving a new price list for calculating natural resource taxes in 2026. The list including but not limited to gold and tin, which are among the most important resources in the province The updated pricing framework will take effect from April 2026 and will replace previous regulations. The move is aimed at improving tax management efficiency and ensuring more accurate valuation of mineral resources in the province.

11 hours ago

14 hours ago

Data: SHFE, DCE market movement (Apr 21)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 21 Apr , 2026

14 hours ago

16 hours ago

Shanghai Unveils Plan to Boost Pilot Zone with Cutting-Edge Tech like BCI, 6G, Quantum Computing

The General Office of Shanghai Municipal People's Government issued a notice on the *Implementation Plan for the National Digital Economy Innovation and Development Pilot Zone (Shanghai)*, which mentioned advancing the exploration of frontier technologies. This includes accelerating the piloting and commercialization of technologies such as brain-computer interfaces, sixth-generation mobile communications (6G), and quantum computing, as well as building common technology R&D service platforms. Research will be conducted on mechanisms for third-generation internet (Web 3.0) innovation testbeds, exploring the development of a trusted technology foundation based on smart contracts, and carrying out technology verification in an orderly manner.

16 hours ago