Geely acquires a 10% stake in Mercedes-Benz

02/27/2018

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The Chinese owner of Volvo Car has become a major shareholder in Daimler.

Not only does the Geely own Lotus, PROTON, Lynk & Co and Volvo, the Chinese multinational automotive manufacturing company is also the largest shareholder in Mercedes-Benz at the present after buying a £6.4 billion (over 3,191 billion nairas) stake in Daimler. In other words, Geely currently holds nearly 10% stake in the luxury German car giant.

Geely Company Review

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The Chinese firm holds nearly 10% stake in the luxury German car giant

In fact, Geely’s has been harboring its ambition of building shareholding in Daimler for years. To illustrate, its intentions had formerly been beckoned by the financial community's reports. And for now, Daimler has publicly confirmed the move in a report citing that the German marque rolls out the red carpet for another big investor.

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Geely company is presently the largest shareholder in Mercedes-Benz

Additionally, the 10% stake (9.69% to be exact) is also a sign of Geely’s longing for technological collaboration, specifically in developing electric vehicles and economies of scale of Volkswagen Group brands.

To your eyes, what do you make of Geely's growing influence in the global auto market?

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