The old guard of European automakers has a new member, one focused on electrification, forward-looking technology and manufacturing efficiency.
No, it's not Tesla.
The automaker that is quietly disrupting Europe's auto market is Geely, the Chinese conglomerate founded by billionaire Eric Li that now owns or collaborates with more than a dozen European companies.
In doing so, Li, who started his career making refrigerator parts, has created a web of interdependent enterprises that form the foundation of a vertically integrated mobility business that engages with a variety of partners.
Zhejiang Geely Holding Group, headquartered in Hangzhou, China, is the umbrella company for an expanding empire with four business divisions: passenger vehicles, commercial vehicles, technology and mobility services. Revenue in 2021 was $47.2 billion, with 2.2 million vehicles sold, according to Geely.