Wednesday, June 23, 2021
News Geely buys into Mercedes-Benz

Geely buys into Mercedes-Benz

Hangzhou-based Geely, from the Zhejiang Province in east China, has purchased a 10% stake in Daimler AG, or Mercedes-Benz. Geely already owns both Volvo and Lotus and have so far done much good for the Swedish luxury brand.

How much is a 10% stake in Benz worth? About 7.3 billion euros or $9 billion USD and in one swift move, they’ve become the largest investor in the German luxury automaker.o

Daimler is on the rise worldwide as it has reclaimed the number 1 spot in the luxury car sales from BMW. Geely’s interest in Mercedes-Benz is many fold as they will benefit quickly from the company’s century-long expertise in building arguably some of the best cars in the world.

Mercedes-Benz is in the process of revamping its structure and creating a holding company. One way or another, Geely’s involvement and deep pockets can only mean good things for Daimler.

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Matt St-Pierre
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

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