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.
