Tag: Geely

German regulator says Geely’s Daimler stake needed earlier disclosure -report

FRANKFURT (Reuters) – German markets regulator BaFin has found that transactions to buy a 9.69 percent Daimler stake on behalf of Geely chairman Li Shufu did not meet German disclosure rules, Germany’s Frankfurter Allgemeine Zeitung said. Investment bank Morgan Stanley should have disclosed its transactions on Feb. 22, 2018 rather than on Feb. 23, Frankfurter… Continue reading German regulator says Geely’s Daimler stake needed earlier disclosure -report

Daimler: Geely threatens million fine for Daimler entry

Li Shufu The Geely founder is a major shareholder at Daimler. (Photo: obs) Dusseldorf / Frankfurt Negotiations on large deals are often sealed only in the early morning hours. That was the beginning of the Chinese automaker Geely at Daimler not otherwise. By the evening of February 22, the negotiations were well advanced. There left… Continue reading Daimler: Geely threatens million fine for Daimler entry

Geely threatens fine in the millions

With a spectacular coup Geely became a major shareholder of Daimler. But the Chinese automaker is said to have reported its involvement of the Financial Services Authority too late. A delicate punishment threatens. Geely owner Li Shufu and Daimler CEO Dieter Zetsche Saturday, 12.05.2018 14:23 clock Due to missed registration deadlines at the Daimler entry,… Continue reading Geely threatens fine in the millions

UPDATE 2-Chinese owner eyes Volvo Cars IPO, picks banks – source

NEW YORK/STOCKHOLM/BEIJING (Reuters) – The Chinese owner of Volvo Cars has hired three investment banks for an initial public offering (IPO) this year that could value the Swedish carmaker in a broad range of $16 billion to $30 billion, a person familiar with the matter said on Thursday. FILE PHOTO: The Volvo logo is seen… Continue reading UPDATE 2-Chinese owner eyes Volvo Cars IPO, picks banks – source

Geely Sales results for April 2018

Recently, Geely Automobile announced the latest sales data for April: The total sales volume for the month was 128,817 units, which was a 6% increase from the previous period and a 49% increase year-on-year, maintaining a strong growth momentum and leading Chinese brands collectively upward. Of these, 2018 Bo Yue, Dorsett GS, Emgrand GL, new… Continue reading Geely Sales results for April 2018

Waylands expands Volvo business with Newbury acquisition

Waylands Automotive, the dealer group set up by ex-Ridgeway CEO John O Hanlon (pictured right), has bought Fawcetts Garage’s Volvo business in Newbury. Waylands, which already runs a Volvo business in Reading, took ownership of Fawcetts earlier this month. O’Hanlon returned to the motor trade in November last year with the launch of Waylands .… Continue reading Waylands expands Volvo business with Newbury acquisition

Volvo Cars Picks Citi, Goldman, Morgan Stanley on IPO

Volvo Cars owner Zhejiang Geely Holding Group Co. has selected Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to advise on an initial public offering for the Swedish carmaker this year, according to people with knowledge of the matter. China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in a range of… Continue reading Volvo Cars Picks Citi, Goldman, Morgan Stanley on IPO

China’s Geely said to pick Citi, others for Volvo Cars IPO

May 10, 2018 Volvo Cars owner Zhejiang Geely Holding Group Co. has selected Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to advise on an initial public offering for the Swedish carmaker this year, according to people with knowledge of the matter. China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in… Continue reading China’s Geely said to pick Citi, others for Volvo Cars IPO

Volvo Trucks introduces an EV just for hauling garbage

Volvo Trucks Volvo Trucks has joined the short list of automakers to introduce an EV bigger than a consumer car, but the Swedish company’s new vehicle is special: It’s a garbage truck. The Volvo FE Electric is built to haul up to 27 tonnes of cargo across urban environments, and like all electric vehicles, it… Continue reading Volvo Trucks introduces an EV just for hauling garbage