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Anjani Trivedi

Sometimes a Billionaire Just Needs a Volvo

Chinese tycoon Li Shufu’s sprawling auto empire would benefit even more from the Swedish company’s reliable stream of cash after a merger.

Li Shufu shifts Volvo and Geely into a higher gear. — Li Shufu shifts Volvo and Geely into a higher gear.
Photographer: Feng Li/Getty

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February 11, 2020, 10:30 PM UTC

Chinese billionaire Li Shufu is bringing his cash cow in-house. Let’s hope he doesn't milk it dry.

Volvo Car AB and Hong Kong-listed Geely Automobile Holdings Ltd. have said in a statement that they’re considering merging their businesses in a combined entity that would tap capital markets through Hong Kong and Stockholm. The parent company that they share, Zhejiang Geely Holding Group Co., is run by the ambitious Mr. Li, who seems to be taking a big first step toward consolidating his sprawling holdings.