#ChinaFinances
Chinese Automaker Geely Snapping Up a Near 10-percent Stake in Daimler: Report
Is a seemingly unstoppable Chinese automaker slowly amassing a significant ownership stake in Germany’s Daimler AG? That’s what sources tell Bloomberg.
According to the news outlet, sources claim Geely Auto Group, which owns the Volvo, Lotus, and the mysterious Lynk & Co. car brands, is steadily acquiring a $9.2 billion stake in the German giant. That would give the Chinese a near 10-percent stake in the maker of Mercedes-Benz vehicles.
Are we witnessing the birth of a new alliance?
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