Swedish truck maker AB Volvo dropped the chief executive of Volvo Cars from its board after Chinese billionaire Li Shufu, founder and chairman of Zhejiang Geely Holding Group, bought a 9.7 per cent stake in German car manufacturer Daimler. The move is the latest sign that the global auto industry is ratcheting up pressure on… Continue reading CEO of Geely-owned Volvo Cars loses board seat at truck maker after Li Shufu buys Daimler stake
Tag: Geely
Aston Martin is looking for a shoulder to lean on
Even James Bond always ends up relying on someone, or someone. Aston Martin has regained its luster, but the British manufacturer of luxury cars dear to the secret agent has still been thinking of finding a shoulder, by the end of the year perhaps. “We are building a company that can survive by selling at… Continue reading Aston Martin is looking for a shoulder to lean on
Volkswagen increases dividend: Record profit, record sales – but VW remains cautious
All articles and backgrounds 02/23/2018 Volkswagen raises dividend record profit, record sales – but VW remains cautious DPA VW CEO Matthias Müller: More profit, more sales, more dividend Money machine despite the diesel scandal: Europe’s largest car maker Volkswagen Show stock market chart has almost doubled its operating profit in the midst of scandals and… Continue reading Volkswagen increases dividend: Record profit, record sales – but VW remains cautious
Aston Martin Posts First Profit in Eight Years
Aston Martin Holdings Ltd. is looking for a “big brother” partner in order to survive as a low-volume, luxury carmaker, even after it posted its first profit in eight years and prepares for a potential initial public offering. The manufacturer famous for making film spy James Bond’s favorite car could use a combination of capital… Continue reading Aston Martin Posts First Profit in Eight Years
Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed
All articles and backgrounds 02/25/2018 Chinese major shareholder launches multi-day charm offensive Li Shufu visiting Daimler, Berlin quite relaxed REUTERS Largest Daimler shareholder on tour: Geely boss Li Shufu launched a multi-day charm offensive in Stuttgart and Berlin shortly after his entry Just yet a competitor, today already a major shareholder and guest in Stuttgart:… Continue reading Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed
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
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
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