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From “Geely No. 1” to No. 1 investor: Li Shufu expands global empire after Daimler stake

HANGZHOU/STUTTGART – In 1996, Li Shufu bought a few Mercedes-Benz cars and took them apart to learn about car making. He then assembled a car with a body style that resembled a Mercedes-Benz 280 using knocked down parts of an FAW Red Flag. He named that car “Geely No. 1.”

Two years later, Geely rolled off its first car ever, a hatchback named Haoqing with a Mercedes-Benz-like grille.

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