Li Shufu re-emphasizes cooperation for auto industry at 2018 Auto China Summit

Shanghai (Gasgoo)- Li Shufu, Chairman of the Zhejiang Geely Holding Group (Geely Holding), re-emphasized the significance of cooperation for the automakers and auto industry development at 2018 Auto China Summit held on April 25. He said building sharing platforms and forming on-line advantages are crucial to the future victory. Below is part of key points of his speech.

China has currently been the largest auto market worldwide with vehicle parc up to 185 million units. Traditional automakers are still striving for more market shares, while new auto brands have continuously sprung up. However, the fast-growing auto market in China has faced unavoidable challenges and troubles, such as environment issues, resource shortage, traffic jam and security risk, brought by the new brands' intrusion and novel disruptive technologies. Automakers need seek synergy and make breakthroughs with new thoughts, breaking borders of nations, cultures and industries.

Li Shufu said companies must develop online digital technology solutions under the premise of strengthening the hardware manufacturing merits. Additionally, automakers should cooperate in the development of generic technologies and common systems. The partnerships should be transparent and legal without breaching participants' independence.

Meanwhile, companies should ensure that their investments in new technologies and business modes will be rewarded. Both auto marketing and mobility services must be carried out on the basis of sustainable development. For instance, the Geely-back car-hailing platform Caocao Zhuanche offers NEV mobility services in over 20 cities across China. The company still need get profits rather than blindly “burning cash”. He also thought that the so-called Internet thought is never a panacea.

Li said, the active reformer will survive in this changeable century, while the auto industry will be no exception. The Volvo low-emission car as well as the new Geely and Lynk & Co's models that are showcased at the Auto China 2018 all reflect Geely Holding's thoughts and practices on reforms.