Founder of Geely, one of the largest automakers in China, is venturing into the smartphone business.
The founder, Eric Li, has set up a new company dedicated to making high-end smartphones.
The new company has signed a strategic cooperation agreement with the Wuhan Economic & Technological Development Zone to establish its headquarters in Wuhan.
Li said smartphones and devices can act “as a pathway to greater automotive applications.”
Over the years, Geely has seen venturing into multiple industries including satellites and flying cars.
The company has also acquired equities of other car makers such as Daimler, Proton and Volvo.