How Chinese car manufacturer Geely became one of the worlds biggest car companies.
Geely is a Chinese car brand which is best known for making affordable consumer cars since 1998. Nowadays, though, they are officially one of the biggest car manufacturers in the world, and even bought over Sweedish brand Volvo.
Chinese entrepreneur, Li Shufu, started making a living in China as a freelance portrait photographer but soon realised he could make more money by trading precious metals, which led him to make a small fortune out of. A few years later, he started a refrigerator manufacturing company but soon lost interest and wanted to move on to bigger and more exciting things. He donated the fridge manufacturing company to the government and then bought over a motorcycle factory that was near to bankruptcy, which he resurrected and continued to produce affordable motorcycles.
Li Shufu spotted a gap in the Chinses market at the time, the need for small, cheap and reliable family cars, which were incredibly expensive and considered to be a luxury by the Chinese public.
Li Shufu then started producing cars under the name Geely which were not only reliable but affordable to the public. Geely is known for being the first private car manufacturing company in China.
Take a look at the video below by YouTube channel, Donut Media, on the history of Geely.
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