Li Shufu News
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Volvo Cars, the Swedish carmaker owned by Zhejiang Geely Holding Group Co., won the approval of China’s main industry planner to begin making vehicles in the country, three people familiar with the matter said.
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Toyota Motor Corp.’s Prius hybrid is emerging as the likeliest winner from China’s faltering attempt to dictate the future of world motoring.
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China, lagging behind its target to put electric vehicles on roads, should expand its subsidy program to include other types of fuel-efficient cars such as hybrids, according to Zhejiang Geely Holding Group Co.
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Zhejiang Geely Holding Group Co. will invest 100 million pounds ($151.7 million) in London black cab maker Manganese Bronze Holdings Plc in the next five years as part of plans to turn the company profitable.
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Zhejiang Geely Holding Group Co. agreed to purchase Manganese Bronze Holdings Plc, rescuing the maker of London’s iconic black taxis after the U.K. automaker entered administration last year.
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Zhejiang Geely Holding Group Co. Chairman Li Shufu said he “enthusiastically” supports the Chinese government’s plan to limit its car purchases to only domestic brands.
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Baidu Inc. Chairman Robin Li, China’s third-richest man, and Yu Zhengsheng, No. 4 in the Communist Party hierarchy, were named to the country’s top political advisory body as a new generation of leaders prepares for power.
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Zhejiang Geely Holding Group Co. has submitted a bid to buy Manganese Bronze Holdings Plc, the maker of London’s black cabs that’s under creditor protection, two people familiar with the matter said.
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Geely Automobile Holdings Co. , whose parent this month completed the biggest overseas acquisition by a Chinese automaker, increased first-half profit 35 percent as car sales rose.
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Don’t expect any breakthrough deals from this week’s meeting between the U.S. president and China’s leader-in-waiting. In an election year for Barack Obama and Xi Jinping, who is in line to replace President Hu Jintao this fall, the best outcome to hope for is good chemistry.
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