Chinese investor becomes top shareholder in Daimler

Li Shufu, chairman and owner of Chinese car company Zheijang Geely Holding Group, has acquired a 9.7 percent stake of Daimler AG, which represents the biggest investment by a Chinese company in an overseas automaker, reports Bloomberg. It is a deal “right in the nerve centres of the global automotive world”, Bloomberg adds. “I am particularly pleased to accompany Daimler on its way to becoming the world’s leading electro-mobility provider,” said Li Shufu in a press release. The billionaire accumulated a stake worth about 7.3 billion euros. 

Read the article in English here and the Geely press release in English here.

For background, read the CLEW factsheet Reluctant Daimler plans “radical” push into new mobility world and the dossier The Energiewende and German carmakers.