Geely founder Li Shufu has stepped down as chairman of Geely Auto as the Chinese carmaker seeks to strengthen its management team and support long-term growth.

Li, 63, will remain chairman of Zhejiang Geely Holding Group, the parent company of Geely Auto, which also owns Volvo Cars and holds a stake in Mercedes-Benz Group. Andy An Conghui, 56, an executive director of Geely Auto, will take over as chairman from Tuesday.

The company also announced a change in its top management. Jerry Gan Jiayue, formerly responsible for Geely Auto’s car development and sales, will become chief executive, replacing Gui Shengyue.

Li described the succession plan as an important step towards cultivating professional talent and building a stronger management team. The transition comes as Geely reported record revenue for the first half of 2026, despite mounting pressure across China’s highly competitive automotive market.

Geely Auto generated revenue of 173.6 billion yuan (US$25.8 billion) in the first six months, a 15 per cent increase from the same period last year. However, net profit fell 2 per cent to 9.1 billion yuan. Vehicle deliveries rose just 1 per cent to 1.42 million units, while exports surged 158 per cent to 474,228 vehicles.

The company has set an ambitious target of 920,000 overseas sales this year, more than double its total in 2025.

Meanwhile, Geely executives have warned that intense price competition is threatening profitability across China’s car industry. CFO Dai Yong called for an end to destructive discounting, noting that manufacturers are already operating on extremely thin margins.

The leadership changes therefore come at a critical moment for Geely, as the company balances rapid international expansion with the need to protect profitability in its fiercely competitive domestic market.