Li Shufu is a famed Chinese entrepreneur worried about the car enterprise and has been ranked 1067 on Forbes Billionaires List and 30 on China Rich List. He is the Chairman of Zhejiang Geely Automobile Holdings and the famous brand Volvo.
His total property worth is anticipated at USD 25.8 billion. Here’s Billionaire entrepreneur Li Shufu’s inspiring success story —
Li Shufu was born in 1963 in Taizhou, Zhejiang province. He was born and taken up in a rural place where he became luxurious to shop for a vehicle or take an air flight.
He made his first version vehicle at the age of 10 once he have been stimulated by the Red Flag vehicles that he noticed within the nearby army airport.
Poetry and Music are Li Shufu’s hobbies, and he pursues them at some stage in his spare time.
He did his Bachelor’s Degree- in control engineering at Harbin University of Science and Technology. Mr. Shufu did his master’s in mechanical engineering from Yanshan University.
His first foray into a camera enterprise became real with the help of 16 USD given through his father in 1980. His less expensive digital digicam became untrue for the task, and he devised his digital digicam with a lighting fixtures system and fixtures for his studio.
His enjoyment withinside the imaging enterprise led him to attempt extracting gold and silver from used machinery. However, the opposition pressured him out of enterprise.
At 23, his 2d significant foray into enterprise became withinside the making of refrigerator components. Shortly, he made his refrigerator beneath the logo `Arctic Flower.` But too many gamers entered the scene, and he went directly to new pastures.
He installed an organization known as Geely, which in Chinese meant `lucky.` Following the setbacks and the Tiananmen Massacre of 1989, he surpassed the enterprise to the authorities. He went to observe for the following few years.
After his studies, he began a bike enterprise in 1993, which started with fulfillment but petered out later because of the access of recent gamers.
He produced the two-wheelers at 1/2 of the value of the Japanese variations and exported them to 22 countries.
He began his vehicle production enterprise in 1997, running from a former jail manufacturing facility in Chengdu. Geely became indexed on Hong Kong Stock Exchange in 2005 thru a backdoor listing.
His preliminary manufacturing on August eight, 1998, became no longer satisfactory, and Li didn’t promote it. The 2d batch of vehicles did now no longer meet the desired standards. In 2000, every other set of cars from its 2d unit at Ningbo grew out to be bad quality.
When China joined World Trade Organization (WTO), he became capable of layout and bringing his vehicles. His first vehicle, named `The Free Cruiser` with the design furnished through South Korea’s Daewoo, was made in 2002 and exhibited at a global show.
In 2009, Geely obtained the essential car transmission organization, the Australian DSI.
The concept of purchasing Volvo from Ford Motor Company in 2002. Initially, they had been reluctant to don’t forget his thought because they appeared too large for a Chinese organization to manipulate them.
He ultimately offered Volvo in 2010 and had the challenging task of creating a turnaround in an organization that was popular for making light, however certain vehicles.
Democratic control is his hallmark. He consults professionals and profits collective information earlier than creating a decision. His emphasis on employer and fabric performance has helped him triumph over setbacks and race ahead.
He has received several awards and titles such as `Master of Operation and Management, Elitist of China’s Automobile Industry over the last 50 years, `Top 10 leaders of Independent Innovation of China’s Private Enterprises`,
`Top 10 Most Vibrant Enterprise Helmsmen in 2016` Top 10 Leaders of Independent Innovation of China’s Private Enterprises` `Zheijian Business Innovation Prize,` etc.