Geely Automobile Holdings was founded in 1986 in Taizhou, China, by Li Shufu — who began as a refrigerator parts manufacturer. The company acquired Volvo Cars from Ford in 2010, marking one of the largest Chinese overseas automotive acquisitions at the time. Geely also owns a stake in Daimler, and holds controlling stakes in Proton, Lotus, and LEVC. In Southeast Asia, Geely markets its Coolray and Azkarra crossovers through local distributors. The brand is positioned as a value-priced Chinese alternative with Volvo-derived engineering credibility underpinning its newer platform development.