Geely will shut down or merge redundant entities under Geely Auto Group Co. and concentrate resources around its Hong Kong-listed unit, Geely Automobile Holdings Ltd., Chairman Li Shufu announced. The restructuring aims to improve corporate governance and advance a unified 'One Geely' strategy, though Li did not specify which units will be affected.

The move streamlines operations as Geely intensifies focus on its listed platform while maintaining existing global partnerships. Li emphasized long-term development and rigorous engineering standards, noting that automotive products directly impacting human lives require thorough understanding of design principles. The company reiterated collaborations with Volvo Car AB and Renault SA as part of its international strategy.

Geely's restructuring comes after the automaker overtook Honda Motor Co. and Nissan Motor Co. in total vehicle sales last year. The company has set an ambitious target to rank among the world's top five carmakers by decade's end, positioning itself as a major player in the global automotive market.

By consolidating around its Hong Kong-listed arm, Geely aims to create operational efficiency while pursuing aggressive growth targets. The restructuring signals a more focused approach to international expansion and capital allocation as the Chinese automaker competes with established global manufacturers.