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在线翻译:
szdaily -> Markets
Geely buys shares in Germany’s Daimler

    2018-February-8  08:53    Shenzhen Daily

CHINESE carmaker Geely has bought shares in German car and truck maker Daimler AG, sources familiar with the matter said, as the Chinese owner of Volvo cars seeks to strike an alliance over electric cars technology.

The size of the stake is unclear but likely to be below 3 percent, as a higher stake would require Geely to make a regulatory disclosure in Germany.

It was also unclear whether Geely, which owns London taxi manufacturer LEVC as well as stakes in Volvo trucks and Lotus sportscars, had sought to buy more Daimler shares.

In November, sources said that Daimler, the parent company of Mercedes-Benz, had turned down an offer from Geely to take a stake of up to 5 percent via a discounted share placement.

At the time, Daimler declined to issue new shares because it did not want to see existing stockholders diluted, sources with knowledge of the talks said.

Now sources say Geely has decided to build a stake by buying existing shares.

“Geely has opted mainly to show their seriousness and to impress on Daimler folks that they are not going away,” one of the sources said.

A spokesman for Geely declined to comment.

Daimler on Tuesday reiterated it would welcome interest from long-term shareholders and added any significant changes to its shareholder structure would be published on its website.

Speaking at an event in Duisburg, Germany, Daimler chief executive Dieter Zetsche said Tuesday he had no information about Geely’s purchases of Daimler shares. “I haven’t seen the chairman of Geely at least for a year,” Zetsche said.

People with knowledge of Geely’s thinking have said the company is keen to access Daimler’s electric car battery technology and wants to establish an electric car joint venture in Wuhan, the capital of China’s Hubei Province.

Carmakers in China have ramped up the production of batteries for electric and hybrid vehicles ahead of tough new quotas to be imposed by the government, which wants to reduce urban smog and lower the country’s reliance on oil.

Geely hopes Daimler will see the mutual benefits of a partnership to scale up production of electric car components, as China tightens the screws on combustion-only vehicles, a second source said.

Daimler executives have said they see no need to take on another industrial partner in China. (SD-Agencies)

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