March 23, 2021, Ningbo Hangzhou Bay.

March 23, 2021, the ZEEKR brand global launch event was held in Ningbo Hangzhou Bay

The big screen flashed two words—ZEEKR. I didn't go to the scene that day. I was at home in Chongqing, watching the livestream on my computer. It was my third year doing independent media. I had no media credentials, no invitation, no front-row seat. I was just someone watching from behind the screen.

But at that moment, I sat up straight.

Because just a few months earlier, Geely had just launched the SEA Super Architecture. Everyone thought it was just a technology launch, a "bottom-level layout" facing electrification. No one expected this card to be played as an independent brand.

September 2020, Geely launched the SEA Super Architecture in Beijing, laying the groundwork for the birth of ZEEKR.

And it was a brand new card. Not hanging under Geely, not hanging under Lynk & Co. Clean and simple, starting from zero.

2

ZEEKR's first car is called ZEEKR 001.

The thing Li Shufu is best at is laying out a clean slate when others think it's impossible.

In 1997, with no catalog, he laid out a clean slate. In 2001, without market recognition, he laid out a clean slate. In 2010, no one believed he could digest Volvo, he laid out a clean slate. In 2021, everyone was racing on price, range, and specs, he laid out a clean slate and said: I won't race you on these. I want to create something different.

ZEEKR 001 became a hit upon launch. The Shooting Brake Coupe styling, pricing starting from 279,000 yuan, and the technical endorsement of the SEA Super Architecture. On the day of the launch, the order numbers jumped quickly.

I watched those numbers at home. What I thought of wasn't "this car sells well". I thought: This person, bet right again.

3

From 2022 to 2025, my days of doing independent media were actually hard to endure.

Traffic became more expensive, platform algorithms became more unpredictable, more peers joined, and readers became less patient. You write a 3,000-word in-depth article, and the views might not even be as high as a 15-second short video.

I began to doubt myself. Doubting if the decision to quit was right. Doubting if I should go back and find a job.

During that time, I rarely wrote about Li Shufu. Not because I didn't want to, but because I felt I couldn't write. His story was too big, my voice too small. An independent media person without media credentials, writing about the boss of a global automotive empire, the act itself was like a joke.

But on May 10, 2024, ZEEKR rang the opening bell at the New York Stock Exchange and went public.

May 10, 2024, ZEEKR rang the opening bell at the New York Stock Exchange, stock code ZK.

In 2001, Geely got the sedan production catalog, taking two years. In 2010, acquiring Volvo, from negotiation to signing, took two years. In 2024, ZEEKR went from establishment to ringing the bell at the New York Stock Exchange, taking three years.

This person's pace in doing things hasn't changed in over twenty years. Not fast, but continuous. Not flamboyant, but every step lands solidly.

4

In 2024, Geely did several big things.

ZEEKR and Lynk & Co integrated. ZEEKR holds 51% of Lynk & Co shares, becoming the controlling shareholder. The two brands changed from "siblings" to "father and son".

November 2024, ZEEKR and Lynk & Co integrated, ZEEKR Technology Group established, ZEEKR holds 51% of Lynk & Co shares.

Lotus listed on NASDAQ. That British brand that used to sell only a few hundred sports cars a year, under Geely's manipulation, returned to the market in the posture of a pure electric supercar SUV.

February 23, 2024, Lotus listed on NASDAQ, returning to the market in the posture of a pure electric supercar SUV.

Galaxy Series launched. Geely's main brand filled the gap in the mid-range new energy market.

In 2024, Geely Galaxy Series launched, Galaxy E8 filled the main brand's mid-range new energy market gap.

If you arrange these names together—Geely, Galaxy, Lynk & Co, ZEEKR, Volvo, Lotus, Proton, Daimler Shares—you will find this is a complete, three-dimensional, automotive map covering from mass market to ultra-luxury, from China to the globe.

He is not conquering. He is growing.

Like a tree. Roots planted in Taizhou, branches reaching Sweden, UK, Malaysia, Germany, USA. Every branch has its own direction, but they share the same root system.

5

Starting from August 18, 2026, Li Shufu resigned as Chairman of the Board and Executive Director, succeeded by An Conghui as Chairman of the Board. Li Shufu was appointed Lifetime Honorary Chairman, continuing to serve as Chairman of Zhejiang Geely Holding Group.

August 17, 2026, Li Shufu announced his resignation as Chairman of the Board and transition to Lifetime Honorary Chairman at Geely Auto's Interim Performance Meeting.

When the news came, I was in Hangzhou on a business trip. I opened my phone, staring at that news for a long time.

No shock. No surprise. Even not too many emotions. Just a very quiet feeling, like a rain that has been falling for a long time finally stopped.

He is 63 years old.

From taking 120 yuan to take photos around the streets in 1982, he has worked for 44 years. From deciding to make cars in 1997, he has worked for 29 years. From the rain at Tiandou Temple in 2001, he has walked 25 years.

25 years.

I have known him for 25 years. Although he doesn't know me.

In 2001, I was a college student about to graduate, watching him overturn the soccer table on TV. In 2010, I was a car journalist who had been in the industry for a few years, writing about his acquisition of Volvo at the office. In 2018, I quit. He invested in Daimler. We each took a road no one cheered for. In 2021, he launched ZEEKR. I watched from behind the screen and sat up straight. In 2024, ZEEKR rang the bell at the New York Stock Exchange. I wrote an article no one read. In 2026, he stepped down. I sat in front of a blank document, not knowing what to write.

6

I don't know what to write.

Not because there's nothing to say. Because there's too much.

Twenty-five years is enough for a person to walk from youth to middle age. Enough for an enterprise to walk from hammering car bodies to ringing the bell at the New York Stock Exchange. Enough for an industry to walk from the dominance of joint venture brands to self-owned brands occupying half the territory.

In these twenty-five years, I changed three identities. Student, journalist, independent media person. He changed one identity. From the person making cars, to becoming the owner of a car group.

But the things deep inside haven't changed.

He is always that person wearing a cheap shirt. The person playing the Guzheng. The person writing slogan-style modern poetry. The person who took apart and reassembled a Mercedes. The person who kowtowed outside Tiandou Temple. The person who said "Please give me a chance to fail".

In 2009 at the Dao Nong Conference, Li Shufu went on stage to play the Guzheng.

"The Wall Street Journal" said he "has a natural farmer wisdom in his body, and his personality is complex".

7

Writing to here, this series should end.

From the name "Geely" on the League B field in 2001 to the news arriving in 2026. Four articles, twenty-five years.

I wrote about him overturning the soccer table, wrote about him asking for a chance to fail, wrote about the rain at Tiandou Temple, wrote about him swallowing Volvo, wrote about him buying Lotus, wrote about him sitting in Daimler's shareholder seat, wrote about him playing the ZEEKR card.

But what I most wanted to write, actually wasn't these. I remembered the last chapter of "Those Days of the Ming Dynasty". Everyone thought the author would continue to describe, the decline of Great Ming, or the change of things after the Qing troops entered the pass, but he didn't, he wrote about Xu Xiake. While others in the same court fought for power and profit, Xu Xiake sat on the peak of Mount Huang, listening to the sound of snow melting all day.

That closing remark was: The reason I wrote about Xu Xiake, was to tell you, so-called hundred-year fame, thousand-year dominance, and everlasting glory, compared to one thing, actually count for nothing. This thing is to spend your life in the way you like!

He took photos, made refrigerators, made motorcycles, made cars, bought Volvo, bought Lotus, invested in Mercedes-Benz, made ZEEKR. Every step wasn't taught by others. Every step was chosen by himself.

He lived this life according to his own way.

Not according to industry rules, not according to capital logic, not according to "what a Taizhou farmer should look like". But according to his own way.

8

In 1963, Li Shufu was born in Luqiao, Taizhou, Zhejiang.

If there had been no decision to make cars in 1997, no sentence "Please give me a chance to fail" in 1999, no rain at Tiandou Temple in 2001—perhaps there would be no acquisition of Volvo, no birth of Lynk & Co, no bell ringing at the New York Stock Exchange by ZEEKR.

Perhaps there would be a 63-year-old retired old man living in Luqiao, Taizhou. On a weekend afternoon, he would probably ride an e-bike to the old city for a stroll, find a familiar restaurant, order a bowl of Maixia, drink a bottle of yellow wine. After eating full go home, sit in the yard and play the Guzheng for a while. Fingers thick and short, but pressing the strings is very steady.

In 1998, Li Shufu's work photo in Luqiao, Taizhou.

If you happen to sit opposite him, when he looks up, please smile and say hello to him.

In this world, nothing makes people feel warmer than greetings between ordinary people.

9月22日，2026成都马拉松新闻发布会在成都举行。现场，极氪001与极氪007GT作为赛事计时引导车正式亮相。10月25日比赛当天，两款车型将承担赛事计时与赛道引导任务，以高性能纯电产品实力，为赛事顺利运行提供保障。

今年6月，极氪正式成为2026成都马拉松冠名赞助商。随着此次授牌及计时引导车亮相，双方合作正式进入赛事落地阶段。作为国内具有广泛影响力的城市马拉松赛事之一，成都马拉松今年迎来创办十周年，赛事规模达到3.5万人。对于需要全程跟随比赛节奏的计时引导车而言，42.195公里不仅是一次长距离行驶，更考验车辆在持续运行状态下的动力响应、操控稳定性与可靠性。

此次承担计时引导任务的极氪001与极氪007GT，极氪001是中国新能源猎装车型的开创者，极氪007 GT则延续了极氪在猎装产品上的深厚积淀。两款车型均搭载900V高压架构，通过高电压平台、高性能电驱与超快充电池等核心技术深度协同，在性能、能效与补能效率上实现系统性提升。 目前，极氪猎装车型全球累计销量已突破40万台，全球每卖出10台新能源猎装车，就有7台来自极氪。

吉利控股集团高级副总裁杨学良在现场表示，选择它们领航赛道，是因为这两款车所代表的极致性能与精准操控，恰恰是马拉松计时车最需要的品质。

极氪不断进阶的技术能力，也正在转化为市场表现。今年以来，极氪交付规模持续走高，8月交付新车36,981辆，同比增长109.8%，连续7个月实现同环比双增长；1—8月累计交付25.1万辆，同比增长100.4%，已经超过去年全年交付规模。与此同时，极氪单车成交均价保持在近37万元，全球用户规模超90万，在销量快速增长的同时继续保持高端品牌的价格与产品结构。

具体到产品端，极氪猎装车型连续3个月月销破万，全球累计交付已超过40万辆；极氪7X全球订单突破20万辆，8月销量继续过万；极氪009则在中国香港、马来西亚、泰国等多个市场进入豪华纯电MPV头部阵营。从猎装、SUV到旗舰MPV，极氪正在不同高端细分市场建立规模优势，也让技术投入逐步转化为更直接的市场认可。

而体育赛事，正在成为这些技术能力走出实验室、进入真实高强度场景的另一扇窗口。此前，极氪已经多次参与大型体育赛事保障。在杭州亚运会期间，极氪车型承担VIP接待、火炬传递先导、马拉松赛事保障及警用服务等多项任务；此后，极氪又持续参与杭州马拉松、上海马拉松以及大型综合性体育赛事服务。从国际综合赛事到城市路跑，量产车型不断进入真实赛事环境，也对车辆的性能、稳定性和保障能力提出持续检验。

与追求单圈极限的专业赛车场不同，马拉松对于车辆的要求并不是简单的“快”。极氪全栈900V高压平台超充能力更强、电流更低、热管理更优、持续输出更稳定、轻量化与效率更接近极限，让车辆在面对高强度、长距离的场景时，能够提供更加稳定、高效的表现。

10月25日，极氪001与极氪007GT将正式驶上成都马拉松赛道，与数万名跑者共同出发。从900V高压架构持续进阶，到越来越多量产车型进入真实赛事场景，极氪正在用技术和产品重新拓展高性能纯电的边界，也让中国新能源汽车的高性能实力，在一次次真实奔跑中被更多人看见。

August 17, HKEX issued a notice: Li Shufu stepped down as Chairman of Geely Automobile Board of Directors, An Conghui officially took over, effective August 18.

News broke, industry shook. But this is not retirement and giving up power; it is the founder retiring after achieving success and professional managers fully taking over, the most thorough reform of private automakers "de-familialization". However, for Li Shufu who built the Geely business empire in the industry for decades, why let go now? Will An Conghui taking over cause changes in Geely's New Energy second half?

The Li Shufu Era: A Legendary M&A History, From Grassroots Car Maker to Global Giant

Li Shufu's decades in charge of Geely was a path to glory for a grassroots car maker. Starting from private car manufacturing, breaking foreign joint venture monopolies, forcing a path for Chinese automakers' globalization. He was the founder, M&A maniac, and the absolute creator of the Geely Empire.

$1.8 billion acquisition of Volvo was Li Shufu's most legendary move. The "snake swallowing an elephant" deal that was ridiculed by the public back then is now the most successful overseas M&A for Chinese automakers. This deal directly filled Geely's safety, chassis, and manufacturing system technology, thoroughly getting rid of low-end cheap labels, and obtaining the entry ticket for global high-end car manufacturing.

Furthermore, acquired Lotus core technology and brand assets,守住 the performance sports car track; held controlling stakes in Malaysia Proton, opening up Southeast Asian overseas markets, perfecting the global map. In 2018, invested heavily to enter Daimler, becoming the largest single shareholder, connecting industry top resources, raising Geely's global industry voice.

In technical infrastructure, Li Shufu was also not soft-handed. Built CEVT China-Europe Technology Center, CMA architecture, SEA浩瀚 Pure Electric Architecture, transformed from "assembly car maker" to an independent top brand with self-developed core technology, completing the foundation paving from fuel to New Energy.

Li Shufu was good at cross-border M&A, territory expansion, strategic gambles, helping Geely complete the leap from zero to global top-tier automakers. This was the era of building the land.

The An Conghui Era: Not Playing Capital M&A, Bearing the New Energy Second Half

Who is An Conghui? Core veteran following Li Shufu for many years, not playing capital M&A, focusing on product, operations, landing, New Energy transition pragmatic.

He was not interested in capital M&A and industry hype, always rooted in product, market, user and system construction, was the core operator of Geely's New Energy transition. This takeover was the inevitable result of industry accumulation and strength precipitation.

An Conghui's steering ability had already been verified by market performance. He single-handedly built the Lynk & Co brand, breaking the "domestic high-end must have fierce competition, must have slow sales" industry curse. Not relying on low-price competition, relying on extreme product quality, young user operations, global development thinking,站稳 the domestic high-end fuel car track, becoming the benchmark for domestic high-end brands.

Under the New Energy transition wave, An Conghui took the lead again, incubated Zeekr brand. From Zeekr 001 breakout hot sales, to full series model iteration upgrade, matrix perfect, Zeekr successfully entered the high-end pure electric track, facing new forces and joint venture New Energy brand competition, becoming Geely's New Energy rising core main force.

More rare is, An Conghui is also one of the few managers in the industry who truly understand users and are willing to guarantee users. In the early stage of the industry, New Energy models generally had problems of fast infotainment hardware iteration and old owner experience shrinking, most car companies chose paid upgrades or ignored.

Under his leadership decision, Zeekr officially announced in 2022, for the first batch of Zeekr 001 old owners full free upgrade Qualcomm 8155 infotainment chip assembly, entire upgrade enterprise investment over 300 million yuan, not charging users any hardware and installation fees. At that time's high-end New Energy market, this disregard for short-term costs, prioritizing old owner rights practice, broke industry convention, both filled model intelligence gaps, and also accumulated solid user reputation for the brand, fully showing long-term operation thinking.

In addition, An Conghui long-term led Geely internal system innovation, promoting model refined iteration, vehicle quality control comprehensive upgrade, New Energy strategy landing. Changed Li Shufu's built massive industrial empire from "scale expansion" to "refined operations", letting Geely's every transformation fit market demand, fit user pain points.

Two generations of leaders' handover, essentially was track switch, past relied on strategic expansion to set pattern, now relied on product strength to decide win or lose.

Conclusion: Not a Power Shift, but a Precise Era Handover

For this commander change, I think the most controversial point for outsiders is, Li Shufu stepping down equates to Geely giving up power, going downhill? The fact is, this is just listed company management handover, Li Shufu still holds Geely Group, controlling top-level strategy, belongs to "retired but not resting, behind-the-scenes steering".

Industry contradiction is, old generation car making big shots good at capital expansion, new generation professional managers must face fierce competition. Past relied on M&A to expand map, now relied on product, cost-performance, New Energy, intelligence to fight close combat, era track completely changed.

Final conclusion is clear, that is Li Shufu completed China's auto hardest zero to global foundation, famous and successful, perfect conclusion. An Conghui succeeding, marked Geely officially said goodbye to "wild expansion capital era", entered "product king, New Energy deciding, refined competition" new era.

This is not a power shift, it is a precise era handover, people of the founding land retired, guarding the land, winning second half people took the stage. From our perspective, future Geely's biggest highlight no longer relies on M&A breakout, but watching Zeekr, Galaxy whether can withstand BYD, new forces competition, truly站稳 domestic New Energy first tier.

Do you think, saying goodbye to Li Shufu frenzy expansion era, An Conghui can lead Geely to win New Energy competition war?

8 月 17 日，港交所一紙公告：李書福卸任吉利汽車董事會主席，安聰慧正式接棒，8 月 18 日正式生效。

消息一出，業界震動。但這唔係退場放權，係創始人功成身退、職業經理人全面接班，民營車企「去家族化」最徹底嘅一次變革。只不過，對於深耕行業數十年打下吉利商業帝國，李書福為何此刻放手？安聰慧接棒，吉利嘅新能源下半場會變天嗎？

李書福時代：一部併購封神史，從草根車企到全球巨頭

李書福執掌吉利嘅數十年，係一部草根車企嘅封神之路。從民营造車起步，打破外資合資壟斷，硬生生闖出中國車企嘅全球化道路。佢係奠基者、併購狂人、吉利帝國嘅絕對締造者。

18 億美金收購沃爾沃，係李書福最封神嘅一筆。當年全民看衰嘅「蛇吞象」，如今成為中國車企最成功嘅海外併購。呢筆交易直接補齊吉利安全、底盤、造車體系技術，徹底擺脫低端賤價標籤，拿到全球高端造車入場券。

更別收購路特斯核心技術同品牌資產，守住性能跑車賽道；控股馬來西亞寶騰，打通東南亞海外市場，完善全球化版圖。2018 年斥巨資入股戴姆勒，成為最大單一股東，打通行業頂層資源，拉高吉利全球行業話語權。

喺技術基建上面，李書福同樣冇手軟。搭建 CEVT 中歐技術中心、CMA 架構、SEA 浩瀚純電架構，從「組裝車企」蛻變為有自研核心技術嘅自主頭部品牌，完成燃油到新能源嘅基礎鋪墊。

李書福擅長跨界併購、版圖擴張、戰略賭局，幫吉利完成從零到全球一線車企嘅跨越。呢係打江山嘅時代。

安聰慧時代：唔玩資本併購，扛起新能源下半場

安聰慧係邊個？跟隨李書福多年嘅核心元老，唔玩資本併購，專注產品、營運、落地、新能源轉型嘅實幹派。

佢唔熱衷資本併購同行業造勢，始終扎根產品、市場、用戶同體系建設，係吉利新能源轉型嘅核心操盤手，今次接棒，係行業積累同實力沉淀嘅必然結果。

安聰慧嘅掌舵能力，早就被市場實績驗證。佢一手打造領克品牌，打破「自主高端必內捲、必滯銷」嘅行業魔咒。唔靠低價競爭，憑藉極致嘅產品質感、年輕化嘅用戶營運、全球化嘅發展思路，站穩自主高端燃油車賽道，成為自主高端品牌嘅標桿之作。

喺新能源轉型浪潮下，安聰慧再度扛起大旗，孵化極氪品牌。從極氪 001 破圈熱銷，到全系車型迭代升級、矩陣完善，極氪成功殺入高端純電賽道，直面新勢力同合資新能源品牌競爭，成為吉利新能源沖高嘅核心主力。

更難得嘅係，安聰慧都係行業入面少數嘅真正讀懂用戶、願意為用戶兜底嘅管理者。行業早期新能源車型普遍存在車機硬件迭代快、老車主體驗縮水嘅問題，多數車企選擇收費升級或置諸不理。

而喺佢嘅主導決策下，極氪喺 2022 年正式官宣，為第一批極氪 001 老車主全額免費升級高通 8155 車機芯片总成，整次升級企業投入超 3 億元，唔向用戶收取任何硬件同施工費用。喺當時嘅高端新能源市場，呢種唔計短期成本、優先保障老車主權益嘅做法，打破咗行業慣例，既補齊咗車型智能短板，亦為品牌攞下扎實嘅用戶口碑，盡顯長期營運思維。

除此之外，安聰慧長期主導吉利內部體系革新，推動車型精細化迭代、整車品控全面升級、新能源戰略落地落地。將李書福搭建嘅龐大產業帝國，從「規模化擴張」轉向「精細化營運」，讓吉利嘅每一步轉型都貼合市場需求、貼合用戶痛點。

兩代掌舵人嘅更迭，本質係時代賽道嘅切換，過去靠戰略擴張定格局，如今靠產品實力定輸贏。

結語：唔係權力更迭，係精準嘅時代交接

對於今次換帥，我想外界爭議最大嘅一點莫過於，李書福卸任是否等同於吉利放權、走下坡路？事實係，呢只係上市公司管理權交接，李書福仍控股吉利集團，把控頂層戰略，屬於「退而不休，幕後掌舵」。

行業矛盾喺於，老一輩造車大佬擅長資本擴張，新生代職業經理人必須直面內捲。過去靠併購擴版圖，而家靠產品、性價比、新能源、智能化拼刺刀，時代賽道完全改變。

最終結論好清晰，就係李書福完成咗中國車企最難嘅從零到全球化奠基，功成名就、完美收官。安聰慧接班，標誌住吉利正式告別「野蠻擴張嘅資本時代」，進入「產品為王、新能源決勝、精細化內捲」嘅新時代。

呢唔係權力更迭，係精準嘅時代交接，江山嘅人退場，守江山、贏下半場嘅人登台。小編睇嚟，未來吉利最大睇點唔再靠併購出圈，而係睇極氪、銀河能否頂住比亞迪、新勢力內捲，真正站穩自主新能源第一梯隊。

你點睇，告別李書福狂飆擴張時代，安聰慧可以帶吉利贏打新能源內捲戰嗎？