Absorb Global Systems Not Just Assets

"Starting in 2002, Li Shufu had been eyeing Ford’s Volvo. After several twists and turns, he finally achieved his wish eight years later. Li Shufu’s acquisition introduced him and Geely to the world. The changes brought to Geely by this acquisition were evident. Volvo’s three factories, more than 10,000 patents, and complete technology research and development system could feed back into Geely’s tech R&D, forming a balanced product line and complete manufacturing system. The change brought to Li Shufu can be described as “impact.” Volvo’s supply chain, employee training system, safety test center, large-scale testing grounds, and global sales and service network taught Li Shufu to use global business thinking, experiencing the art and wisdom of management in the conflicts and integrations of different cultures."

"This signifies that six years after Geely’s acquisition of Volvo, Li Shufu successfully built a global automotive manufacturing and supply chain system. Håkan Samuelsson, president of Volvo Car Group, believes that “China’s automotive industry has entered a new era of globalized production and export initiated by Volvo.”"

"“We have not failed Ford’s trust!” Li Shufu always appreciated Ford’s broad-mindedness and sense of responsibility as a giant in the global automotive industry. Li Shufu knew that money alone could not buy Volvo, and he valued Ford’s trust in him. International media have likened Li Shufu to China’s Henry Ford. As founders of their respective automotive brands, Henry Ford was born in 1863, and Li Shufu in 1963. Interestingly, Geely was founded in 1986, and 100 years earlier, in 1886, the automobile was invented by the Germans."