Geely's boss to buy Volvo, shares from Mercedes

in #news7 years ago

Li Shufu is one of the most talked-about actors of the automotive market in recent years. Shufu, the founder of Chinese Geely, was on the verge of purchasing the Swedish Volvo in 2010 for $ 1.8 billion from Ford Motors. Shufu, who later bought $ 3.3 billion of shares from truck maker AB Volvo, received the majority of sport car manufacturer Lotus and 49.9 percent of Malaysian Proton, respectively. Shufu also owns LEVC, the UK's iconic black cab manufacturer. Shufu took a 10 percent share of the German Daimler in the past week and bought 9 billion dollars to sign a big surprise in the industry.

"INVEST IS TOO EVER"

Beyond Geely, Shufu, which has about $ 15 billion in automotive investment, is curious about what to do next. In an interview with the German media, Shufu said that such investment is enough for him, he explained that it is closed to new acquisitions and partnerships.

"WE WILL BE CONCENTRATED TO OUR AVAILABLE WORKS"

"We do not have a new purchasing plan for now, we will concentrate on improving our current business, there are so many different ideas and much work to do," Shufu said.

A question about whether or not the Chinese state is behind their investments is that they have never received any support or approval from the government, Shufu said, "We never ask the government to give a consent, and the same is true for the shares we receive from Daimler."