Geely chairman acquires 9.7% holding in Daimler
Li Shufu, founder of Chinese automotive firm Geely, has acquired a 9.7% share in Daimler, becoming the biggest shareholder in the company.
Mr Li Shufu, chairman of Zhejiang Geely Holding Group Co. Ltd
The acquisition has been made by a subsidiary of Geely Group, which is managed by Zhejiang Geely Holding Group, and is said to herald a long-term commitment.
In a statement, Geely Group said there were no plans to acquire additional shares.
“Daimler is an outstanding company with a first-class management. It will be an honor to support this unique team under the leadership of Dieter Zetschein the future,” said Li Shufu. “I am particularly pleased to accompany Daimler on its way to becoming one of the world’s leading electro-mobility providers.”
Daimler confirmed the investment and said the move means it “could win another long-term orientated shareholder, which is convinced by Daimler’s innovation strength, the strategy and the future potential”.
Natalie Middleton
Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.
