By on February 24, 2018

2017 Mercedes-Benz C350e grille hood ornament - Image: Mercedes-Benz

Unlike German auto titans BMW Group and Volkswagen Group, Mercedes-Benz parent company Daimler didn’t have the stabilizing effect of a family or individual with a massive, long-term cache of company shares. That’s no longer the case, as Geely Group owner Li Shufu has announced his purchase of a 9.69 percent stake in the German automaker.

This makes Shufu Daimler’s largest single shareholder.

The Chinese auto tycoon, whose Zheijang Geely Holding Group manages car-producing Geely Group, already owns Volvo Cars and Lotus, and is a major shareholder in truck builder Volvo AB. Always on the hunt for opportunities, the near 10-percent stake in Germany’s largest luxury automaker should give Shufu the partnership he’s looking for.  (Read More…)

Recent Comments

  • ajla: A lot of you guys need to switch to decaf.
  • FreedMike: Awww, poor markf…can’t handle someone making a perfectly valid criticism of the former...
  • dal20402: What cities are “sh!tholes?” I live in a city and it’s a pretty damn nice place. Abundant...
  • FreedMike: He’s the cool exec with the hottest deal.
  • JD-Shifty: MarkF, half of the GOP still think Trump IS President. Trump is still in charge of your party. wake the F...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber