Daimler Wants To Discuss China Cooperation With Geely

Daimler has agreed to discuss the potential of cooperation in China with Geely chairman Li Shufu, who has recently become the German company’s largest shareholder.

During Daimler’s annual shareholders meeting in Berlin, the company’s CEO Dieter Zetsche said: “So far our talks with Li Shufu have been very positive. He wants his investment in Daimler to be a long-term one and he supports our successful strategy.”

“China is our most important market. In our future discussions of the automobile business in China, we will be able to include our largest shareholder,” Zetsche added, according to Autonews.

However, he repeated his condition that any cooperation would have to keep Daimler’s long-standing Chinese partner BAIC happy. Zetsche added that he’s “open for everything” that serves BAIC’s interests. “The bottom line is Li Shufu’s stakeholding offers many new chances”.

A delicate balance

Since Li announced that he had amassed a 9.7 percent stake in the German car maker, worth nearly $8.6 billion, Daimler has been trying to balance between the wishes of its new shareholder and its existing partners in China.

Li has said that he sees partners and alliances as key to defending the industry from new competitors. Daimler is currently enjoying record sales and earnings but is now facing intense spending due to the shift to electric vehicles.

  • TheBelltower

    This will either be a very good thing for MB, or it will be a downward spiral.

    • bxniels0

      I fear the latter.

  • scalextric

    No reason why it wouldn’t be positive deal. Geely is not a Ford or GM but has a strong track record as stakeholder.

    • You seems to miss the point, what it means is that Geely as a group could have tapped into Mercedes tech and research. And possibly transfer those tech to China which can be bad for long term.

  • CJKnox

    Go home Daimler youre drunk.

  • Tan Lee

    WHY IS THIS THE MAIN PAGE??

    • Bob

      Why not?

The Koenigsegg Regera Is A 1,500 HP Single-Gear Torque Monster

A twin-turbo V8 and no less than three electric motors are mated to a revolutionary transmission.

Army Green Wide-Body Audi RS6 Avant Is Ready For The Apocalypse

This matte green RS6 comes from South Africa and has been fitted with many custom parts.

Toyota Could Kill Off Some U.S. Models If Trump Enforces Tariffs

Depending on Trump’s decision, some might be produced locally while others could be withdrawn.

Breaking: Sergio Marchionne Out As FCA And Ferrari CEO Following Complications With Surgery

Marchionne’s condition has “worsened significantly in recent hours” .

Is $65,000 Crazy Money For A 2019 Ram 1500 Truck?

The Ram 1500 Limited is the nameplate’s flagship version, costing as much as a base-spec Porsche Cayenne.

Trade Secrets From GM, Toyota, Tesla, More Exposed After Data Breach

Anyone with an internet connection and some knowledge could access sensitive information.

Bugatti Recalls Two Chirons, Will Fly The Seats To France To Fix The Airbags

Bugatti goes to great lengths to ensure it takes good care of its vaunted customers, .

Ken Block’s Ford Escort RS Cosworth Destroyed By Fire After Rally Crash

Ken Block’s Ford Escort is no more, but thankfully both he and his co-driver got out without any injuries.

New BMW X5 Makes Dynamic Video Debut In Official Launch Film

The fourth-gen X5 is more mature and versatile than ever and is priced closely to its predecessor .

Dark Blue 2019 Aston Martin Vantage Cuts A Dash On The Streets Of Montreal

It might not look as elegant as its predecessor, but it sure is a lot more aggressive .