The two companies formed a China-based venture to build electric Smart cars and a separate premium ride-hailing venture. They also invested in Volocopter, a flying taxi company.
Geely will also "launch several new products and services to our markets around the world" this year, Li said in a statement to Reuters. Geely plans to roll out Lynk & CO models in Europe this year.
Geely also won control of British sports car maker Lotus in 2017, while in 2013 it purchased Manganese Bronze Holdings, rescuing the maker of London's iconic black cabs after it entered bankruptcy. London Electric Vehicle Co., as the taxi maker is known, is preparing to launch a new electric van this year.
Another Chinese company, BAIC Group, is said to be seeking a greater stake in Daimler. BAIC, which is Daimler's main China joint venture partner, has set in motion a plan to double its stake to around 10 percent and win a board seat at the German automaker, as it aims to upstage rival Geely, two sources told Reuters.