Billionaire Li Shufu Lays Groundwork for His Next Big Move
- Chinese car maker has announced a string of cooperation pacts
- Geely aligning for intelligent vehicles, connected mobility
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Chinese billionaire Li Shufu shook up the car industry with an eye-catching run of deals among traditional, European automakers that made his Zhejiang Geely Holding Group Co. a global force to be reckoned with. Now he’s training his sights on Big Tech.
In the space of less than a month, Geely has forged major collaboration pacts with companies from search engine heavyweight Baidu Inc. to Apple Inc.’s Taiwanese manufacturing partner Foxconn Technology Group and Tencent Holdings Ltd. Last Friday saw another, this time with electric-car upstart Faraday Future. The pair signed an agreement to cooperate on technology and engineering support.