26 Feb 2018, Waratthapoom Buarapha, EMIS Editor
Chinese automaker Geely acquires a 9.69% stake in Germany’s Daimler
Li’s US$9 billion investment has made Geely the top shareholder in Daimler. Prior to this latest deal, Geely has previously bought a 49.9% stake in Malaysia’s Proton and invested US$3.3 billion in Volvo Trucks last year.
According to Li, the Chinese automaker decided to forge alliance with Daimler, one of the leading companies in electric and self-driving vehicle development, in order to compete with new challengers in the global car industry such as Tesla, Google and Uber.
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