Geely has denied the sale of its share of Daimler

Geely has denied the sale of its share of Daimler

January 12, 2019 0 By autotimesnews

In a number of media outlets have appeared data on the sale of a 5.4% stake in the German concern, which is owned by the Chinese giant. However, the company’s press service officially denied the information.

At the moment, Geely concern is the largest shareholder in Daimler, having a package of 9.69% with a value of $ 9 billion at the time of purchase. The purchase of these shares took place in February 2018. Earlier, Bloomberg, citing sources, said that the head of Geely, Li Shufu, got rid of most of the Daimler package.

In an official statement of the Chinese company, it is said that the information that appeared is erroneous. And now the billionaire has no plans to sell his shares. On the contrary, analysts say that the Chinese company would not mind buying more shares of the German concern. The purpose of the purchase is to create an alliance for the creation of electric vehicles, as well as the opportunity to gain access to the company’s developments.

So far there is no information about the creation of any joint venture. But Geely is sure that they have every chance to win the competition with Tesla, Google and Uber.

Meanwhile, Geely introduced a competitor to the Swedish Volvo XC40. A few minutes ago, the press service of the Chinese brand published an image of a new model.