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