Geely’s chairman and founder Li Shufu said the global automotive industry is facing “serious overcapacity” and the company has decided to not build new manufacturing plants or expand production at its current facilities, Reuters reports.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GELYF:
- Geely Finalizes Joint Venture Formation to Strengthen Market Position
- Geely Automobile Reports Robust Sales Growth in May 2025
- Geely Automobile Holdings Announces Board Composition and Committee Roles
- Geely Announces AGM Results and Board Changes
- Zeekr investors argue Geely $2.2B offer undervalues unit, Reuters says
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue