Founding Geely in 1986 as a refrigerator-maker with money borrowed from family, Li Shufu transformed his company into a successful private automaker selling cheap products to inland Chinese consumers in tier-3 and 4 cities.
Geely started manufacturing motorcycles in 1994 after the purchase of a failing, state-run firm. Small van production began in 1998, and in 2001 Geely received state approval to make automobiles.
Geely had its IPO on the Hong Kong Stock Exchange in 2004.
Between 2006 and 2008 Geely expressed its desire to sell in the EU and United States markets, and in pursuit of this goal it presented at the 2005 Frankfurt Motor Show. It followed with a 2006 showing at the Detroit auto show. Export to the EU and US has been postponed.
