Pursuits
Volvo Cars Billionaire Owner Revamps Chinese Brand Geely
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Chinese billionaire Li Shufu is revamping his flagship Zhejiang Geely Holding Group Co. after setting Swedish automaker Volvo Cars on a five-year renewal. His latest move involves killing three brands.
At the National Aquatics Center in Beijing last night, Li handed the keys of the carmaker’s latest Geely GC9 sedan to members of the Chinese national swimming team, which the company is sponsoring. The carmaker will replace its Emgrand, Gleagle and Englon marques introduced in 2009 and market all future models under the single “Geely” brand.