26 Feb 18
News

Chinese Geely secures 9.7% of Daimler AG

After having failed a first time in November 2017, Geely has now succesfully acquired amost 10% of German Daimler A.G. for an estimated amount of USD 9 billion. The Chinese car manufacturer, already owner of Volvo Cars, parts of Volvo Trucks and LEVC (the London black cabs), is said to have pushed for the investment because of Daimler's know-how in electric and autonomous cars.

This acquisition has raised concerns with German authorities about the protection of strategic European companies from unwanted investors - companies that often realise a major part of their revenues in China.

Authored by: Yves Helven