Chinese billionaire Li Shufu’s attempt to create a global automotive empire to rival Volkswagen AG has hit a road block, as equity markets sour on electric-vehicle companies amid worries about a price sapping oversupply and rising trade tensions between China and the West.

Polestar Automotive Holding and Lotus Technology Inc., two electric brands nurtured by Li, have turned to riskier funding to pay for their rapid international expansion, while Li’s Zhejiang Geely Holding Group Co. has high borrowings and appears to carefully guard its own capital.

QOSHE - Chinese Billionaire’s Auto Empire Hits a Road Block - Chris Bryant
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Chinese Billionaire’s Auto Empire Hits a Road Block

14 0
13.12.2023

Chinese billionaire Li Shufu’s attempt to create a global automotive empire to rival Volkswagen AG has hit a road block, as equity markets sour........

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