Daimler also conveniently announced today it would expand production with its current Chinese partner, BAIC. The automotive world was rocked somewhat last week with the news that Geely’s chairman Li Shufu acquired a few shares of stock in Daimler. By few, we actually mean $9 billion dollars worth, which translates to a 9.69 percent stake in the company. That’s enough for Shufu to claim the position as Daimler’s largest shareholder, but before folks start mentioning terms like control and takeover of the German company, Automotive News Europe reports that there are no additional plans for Geely, nor any company that’s part of China’s Zhejiang Geely Holding Group, to acquire more Daimler shares.Furthermore, Shufu seems to be addressing such concerns about Geely’s intentions. In a statement issued over the weekend, he said Daimler was “an outstanding company with a first-class management” and that it would “be an honor to support this unique team under the leader of Dieter Zetsche in the future.” Lastly, Shufu reportedly said that he would “fully abide by the company charter and governance structure of Daimler and respect its values and culture. Read also: Thanks To Geely, Lotus SUV Seems Increasingly Likely To Happen Geely Allegedly Extending… Read full this story
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