Story perspectives

Li Shufu Steps Down as Geely Auto Chairman

8/17/2026

Summary

Li Shufu Resigns

Li Shufu stepped down as Geely Automobile board chairman, appointing An Conghui effective August 18, 2026.
He will remain chair of Zhejiang Geely Holding Group, keep shares, and be Honorary Chairman for Life.
An Conghui assumed the chairmanship on August 18, 2026.
Gan Jiayue moved from executive director to CEO.
Gui Shengyue became vice-chairman and stayed an executive director, while Li Donghui left the vice-chairman role to remain an executive director.

Summary

Geely Sales Surge

Geely Auto posted H1 2026 sales of 1.4 million, a 2 % rise, with exports jumping 158 % to 474,228 units.
Geely, which aims for two-thirds of sales overseas, partnered with Ford to build electric SUVs at its Spanish plant and co-develop a vehicle.
Zeekr merged into Geely Auto and was delisted from the NYSE in December 2025.
Polestar recorded first-half sales of 30,400 units, up 3.8 % year-on-year despite tariffs.

History

Historical Context

Geely’s 2010 purchase of Volvo Cars for $1.8 billion gave the Chinese group access to European engineering and the SPA platform, sparking a sales surge that funded its global push. Building on that overseas-focused strategy, Geely partnered with Ford in July 2026 to form a 34%-owned joint venture at Valencia, slated to launch a new Bronco SUV and two Geely electric models by 2028.

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Li Shufu Resigns

Li Shufu stepped down as Geely Automobile board chairman, appointing An Conghui effective August 18, 2026.
He will remain chair of Zhejiang Geely Holding Group, keep shares, and be Honorary Chairman for Life.
An Conghui assumed the chairmanship on August 18, 2026.
Gan Jiayue moved from executive director to CEO.
Gui Shengyue became vice-chairman and stayed an executive director, while Li Donghui left the vice-chairman role to remain an executive director.

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