Chinese Car Billionaire Li Sets Sights on ‘Supersonic’ Trains

Li ShufuChinese billionaire Li Shufu has expanded its automotive empire over the past decade with the purchase of Volvo, a stake in Daimler AG and a startup that builds flying cars. Now he wants to reinvent the high-speed train.

On Tuesday, Li's Zhejiang Geely Holding group signed an agreement with China Aerospace Science and Industry Corp. to build "supersonic trains" using local technology. Under the Pact, the two companies will combine their expertise to focus on developing what they call the next generation of vehicles and mobility technology.

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