Ford and Geely reached a cooperation deal to establish a joint venture in Spain, with Ford holding 66% and Geely holding 34%, using Ford's local plant to produce models for the European market.
Geely Auto released its first-half financial report, showing a 46% year-on-year increase in core net profit, but announced on the same day that founder Li Shufu has resigned as Chairman of the Board to become Lifetime Honorary Chairman, with An Conghui succeeding him.
On June 25, 2026, Reuters reported that the U.S. government has denied market access authorization to Polestar, an electric vehicle brand majority-held by China's Geely Holding, banning it from selling new vehicles in the United States starting with the 2027 model year.
During his tenure as Secretary of the CCP Zhejiang Provincial Committee, Xi Jinping went to Taizhou for research and visited the Geely factory, providing early political and credit endorsement for Geely, which was then a small private factory.
Geely completed the acquisition of Volvo for $1.8 billion, with local state-owned capital from Daqing and Jiading, Shanghai, participating in the funding and securing commitments for industrial bases.