The shift was laid out in a document called the Taizhou Declaration, which called for consolidation, synergies and savings.

Tourists take photos with peach blossoms in Fuxin Town of Mianzhu, southwest China's Sichuan Province, March 16, 2025. (Photo ...

Li Shufu, the billionaire behind one of the world's largest automobile empires, has been doing some soul-searching.

Geely Automobile, which reports earnings on Thursday, is trying to catch up to electric-vehicle leader BYD Co.