Li Shufu, founder of Chinese automaker Geely [Photo/IC]

Li Shufu, born in Taizhou, East China's Zhejiang province in 1963, is the founder and chairman of Zhejiang Geely Holding Group that owns Volvo and a major stake holder in Mercedes parent Daimler.

Zhejiang Geely Holding Group was founded by Li in 1986 and initially started as a refrigerator parts manufacturer, and later transitioned into producing refrigerators, freezers, construction and decorative materials, and motorcycles. In 1997, Geely entered the automotive industry and has since focused its core business on the development and production of automobiles.

Geely sold 630,237 vehicles in the first half of 2021, ranking third among Chinese carmakers in terms of sales in the first half. It expects its sales to reach 3.65 million units in 2025, which would make it the most popular Chinese marque in the country.

Li was regarded as one of the most influential private entrepreneurs in China. In 2018, he was honored with a reform pioneer title for his pioneering spirit since the country's reform and opening-up.