Li Shufu, Chairman of Chinese automaker Geely Holding Group, has revealed that the company will further streamline its organizational structure by shutting down or consolidating certain business entities, and concentrate resources on its Hong Kong listed platform to improve governance efficiency.
According to Bloomberg, Li Shufu said at an industry forum on Saturday (June 13) that Geely will sort out the relationships between its operating entities, gradually exit redundant business units, build a more efficient corporate organization system, and promote the “One Geely” strategy.
However, Li did not specify exactly which business units will be subject to adjustment.
He mentioned that Geely will systematically shut down, merge, or restructure internally duplicated departments within Geely Auto Group, and further concentrate resources in its Hong Kong-listed company, Geely Automobile Holdings Limited, strengthening its position as the core development platform.
He mentioned that Geely will systematically shut down, merge, or restructure internally duplicated departments within Geely Auto Group, and further concentrate resources in its Hong Kong-listed company, Geely Automobile Holdings Limited, strengthening its position as the core development platform.
Li also pointed out that the company will adhere to a long-term development strategy, place importance on product safety and global partnership relations—including its existing cooperation with Volvo Cars and Renault Group—and emphasized the importance of strict engineering standards.
He stated that automotive products are directly related to human life and safety, “We must not only know what the product is, but also understand why it is designed this way,” adding that the company cannot take shortcuts in the automotive manufacturing process.
In terms of performance, Geely’s total auto sales last year surpassed those of Honda and Nissan. The company has also set a goal to be among the world’s top five automakers by the end of the 2020s.
In terms of performance, Geely’s total auto sales last year surpassed those of Honda and Nissan. The company has also set a goal to be among the world’s top five automakers by the end of the 2020s.