Geely Group is now the largest stakeholder in Daimler AG

  • Published By: Hari
  • 27 February 2018
  • 612 Views

The Group now owns 9.69 percent of the company’s shares.

The Geely Group is now the largest shareholder in Daimler AG. The company acquired a 9.7 percent stake in the company through open-market purchases. The second largest stakeholder is the Renault Nissan alliance. Managed by Zheijang Geely Holding Group, it made regulatory disclosures after the close of markets on February 23. Li Shufu, the founder of Geely, has acquired 9.69 percent (103,619,340 shares) of the Daimler company.

The share purchase makes Li Shufu the single-largest shareholder of Daimler AG. The Zheijang Geely Holding Group is China’s largest privately owned automotive manufacturing company. It’s revenue for 2017 exceeded US$ 42.7 billion, and the company is one of the world’s leading providers of electro-mobility.

Under the Geely portfolio are Geely Automobile Holdings Ltd., Hangzhou (46 percent), Volvo Cars, Gothenburg, Sweden (100 percent), Volvo Trucks, Gothenburg, Sweden (8.2 percent), Lotus Motor Cars, Norfolk, UK (51 percent), Proton Cars, Malaysia (49.9 percent), London Taxi, Coventry, UK (100 percent) and China’s largest car-sharing provider, Cao Cao (100 percent), which has an operational fleet of around 16,000 electric vehicles around the world.

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