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    Geely chairman says global auto industry facing 'serious overcapacity'

    Picture of ZEEKR Intelligent Technology Holding logoZEEKR Intelligent Technology Holding
    07/06/2025 10:43
    SHANGHAI, June 7 (Reuters) - Geely's GEELY.UL chairman and founder Li Shufu said on Saturday that the global automotive industry was facing "serious overcapacity" and that the Chinese automaker had decided not to build new manufacturing plants or expand production in existing facilities.

Li made the comments at an auto forum in the central city of Chongqing, according to the company. Geely Holding owns multiple automotive brands including Geely Auto 0175.HK, Zeekr ZK.N and Volvo VOLVb.ST.

 (Reporting by Brenda Goh
Editing by Tomasz Janowski)

 ((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))

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