Geely Automobile Holdings Net Worth is2.6 $Billion
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Type: Holding company
Foundation: Taizhou, Zhejiang, China (1986)
Founder: Li Shufu
Location: Hangzhou, Zhejiang, China
Area Served: Worldwide
Key People: Li Shufu (Chairman), Yang Jiandate
Industry: Automotive industry
Products: Automobiles, motorcycles, Internal combustion engine, Transmission (mechanics)s
Num Employees: 12,000+ Subsid: Geely Automobile Holdings, Volvo Cars
Homepage: [http://www.geely.com/ geely.com]
Geely (officially Zhejiang Geely Holding Group) is a Chinese automotive manufacturing company headquartered in Hangzhou, China. Its principal products are automobiles, motorcycles, engines, and transmissions. It sells passengers cars under five brand names: Emgrand, Englon, Geely, Gleagle, and Volvo. Geely acquired Volvo Cars from Ford for US$1.8 billion in 2010.Geely Automobile Holdings Ltd (Chinese: a??a?(C)ae? 1/2 e 1/2 ?; pinyin: JA-lA? QA?chA?) (SEHK: 0175), a subsidiary of Geely, is listed on the Hong Kong Stock Exchange.
Geely (Chinese: a??a?(C); pinyin: JA-lA?) means "auspicious" or "lucky" in Mandarin Chinese.
Founding Geely in 1986 as a refrigerator-maker with money borrowed from family,Li Shufu transformed his company into a successful private automaker selling cheap products to Chinese consumers. A pioneer private Chinese automaker, in 2003 it remained the only domestic car manufacturer to lack ties to the Chinese state.
After the purchase of a failing, state-run firm, the company manufactured motorcycles in the mid-nineties. Small van production began in 1998, and a year after Geely received state approval to make automobiles, car production began in 2002. It had its IPO on the Hong Kong Stock Exchange in 2004.
Between 2006 and 2008 Geely expressed its desire to sell in the EU and United States markets,[citation needed] and in pursuit of this goal[citation needed] it presented at the 2005 Frankfurt Motor Show. It followed with a 2006 showing at the Detroit auto show. Export to the EU and United States was postponed, but the company has recently started EU sales.
Geely approached Ford in mid-2008 about a possible takeover of Volvo Cars. On October 28, 2009, Geely was named as the preferred buyer of Volvo by the American automaker. A deal was reached in late March and completed in early August, 2010. Volvo continues to operate independent of its new owners,[citation needed] but Geely wants to make Volvo-branded cars in China something Volvo

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