Geely Automobile to Streamline Operations and Focus on Hong Kong-Listed Arm

MT Newswires Live

06/15

Geely Automobile's (HKG:0175) parent Zhejiang Geely plans to shut down or merge redundant entities to build a more efficient corporate structure, said chairman Li Shufu at a recent industry on Saturday.

Resources will be concentrated around its Hong Kong-listed unit, Geely Automobile, as the core platform, though specific units were not named, according to a transcript on the company's website.

Shufu also reaffirmed the company's commitment to long-term growth, safety, and global partnerships with Volvo and Renault, while warning against shortcuts in manufacturing.

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