Geely Becomes The Largest Shareholder In Mercedes-Benz

The Chinese company Geely buys a 10% stake (which equals $9 billion) from Daimler AG, thus becoming the largest shareholder in Mercedes-Benz and opening new ways for Daimler and Mercedes-Benz to the world’s largest car market – China.

This step is confirmed in the Daimler’s report for markets, which says the company welcomes a new major investor.

Geely – the property of billionaire Li Shufu – already owns Volvo, Lotus and the performance electric Polestar brand, which has recently separated from Volvo. The company also owns Lynk & Co, another trademark in the EV segment targeting young buyers, as well as Terrafugia and London Electric Vehicle Company, which are developing flying electric vehicles for London Taxi.

Mercedes-Benz has already announced its goal to launch 10 different electric cars by 2022 under the new EQ brand and become the leader in EV design and battery technologies.

Source: Auto Express

Photo: the Mercedez-Benz EQ A Concept (2017) 

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