Category: Automotive

China’s Geely Buys $9 Billion Daimler Stake

The billionaire founder of Zhejiang Geely Holding Group Co. has accumulated a stake worth about 7.3 billion euros ($9 billion) in Daimler AG, marking the biggest investment in a global automobile manufacturer by a Chinese company. Li Shufu acquired the 9.7 percent holding through Geely Group, a company owned by the 54-year-old and managed by… Continue reading China’s Geely Buys $9 Billion Daimler Stake

Geely seeks meetings with Daimler, Berlin next week -sources

FRANKFURT/BEIJING (Reuters) – Officials from Chinese carmaker Geely (0175.HK) plan to meet Daimler (DAIGn.DE) executives early next week after announcing the acquisition of an almost 10 percent stake in the Mercedes maker, two sources familiar with the situation said. They also hope to meet top German government officials in Berlin, the sources told Reuters on… Continue reading Geely seeks meetings with Daimler, Berlin next week -sources

UPDATE 1-Germany could impose limited diesel car bans in strategy shift

BERLIN (Reuters) – Germany’s government, which has steadfastly opposed barring heavily-polluting diesel cars from cities, is working on changes to allow driving bans on certain routes on an emergency basis, documents seen by Reuters showed. Junior transport minister Norbert Barthle, a conservative, disclosed the shift in a reply to a parliamentary question by the Greens… Continue reading UPDATE 1-Germany could impose limited diesel car bans in strategy shift

Geely boss Li Shufu speaks of prolonged engagement – and does not see himself as a competitor: what the “Henry Ford China” intends to do with Daimler

All articles and backgrounds 02/24/2018 Geely boss Li Shufu speaks of a longer commitment – and does not see itself as a competitor What Daimler’s new major shareholder from China sets REUTERS Largest Daimler shareholder – and at the same time a competitor: Geely CEO Li Shufu wants to promote electromobility with the people of… Continue reading Geely boss Li Shufu speaks of prolonged engagement – and does not see himself as a competitor: what the “Henry Ford China” intends to do with Daimler

New shareholder

Daimler AG confirms that the entrepreneur Li Shufu has acquired 9.69% (103,619,340 shares) of the company. Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler’s innovation strength, the strategy and the future potential. Daimler knows and appreciates Li Shufu as an especially knowledgeable… Continue reading New shareholder

Geely says won’t buy more Daimler shares ‘for the time being’

FRANKFURT, Feb 24 (Reuters) – China’s Zhejiang Geely Holding does not plan to buy more Daimler shares “for the time being,” it said on Saturday, after its chairman Li Shufu disclosed he had a 9.69 percent stake in the German carmaker. ”Daimler is an outstanding company with a first-class management. It will be an honour… Continue reading Geely says won’t buy more Daimler shares ‘for the time being’

UPDATE 3-Geely chairman builds $9 bln stake in Germany’s Daimler

BEIJING/FRANKFURT (Reuters) – The chairman of Chinese carmaker Geely has built up a 9.69 percent stake in Mercedes-Benz owner Daimler, filings showed on Friday, an aggressive move designed to open the door for an industrial alliance between the two carmakers. Two sources familiar with the thinking of Li Shufu said his move to accumulate the… Continue reading UPDATE 3-Geely chairman builds $9 bln stake in Germany’s Daimler