Geely negotiated the purchase of a large block of shares in Daimler AG concern. The Chinese offered to the concern a proposal to buy at least five percent of shares at a discount. In the Daimler AG, the proposal was abandoned and Geely offered to “buy shares on the open market.”
According to German press sources, Geely is extremely interested in accessing new technologies that Daimler uses to design, create and manufacture electric vehicles. Today, the largest shareholders of the German concern are the Kuwait Investment Fund (6.8%) and the world’s largest investment fund BlackRock (6%). Thus, Geely does not just want to become a shareholder of Daimler, but also to become one of its largest co-owners. What the current owners, apparently, does not need.
Today, the Chinese Zhejiang Geely Holding Group is wholly owned by the Swedish Volvo Car and the British Lotus, and it is also a major shareholder of the Malaysian proton and the Volvo AB concern, which produces trucks and power equipment.