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Once viewed as an also-ran at home and abroad, Geely has leveraged its purchase of Volvo to improve its technology and emerge as the No. 1 local brand in China. Now, the company’s founder has bought a big stake in Daimler and Geely aims to conquer the rest of the world.
Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $ 9 billion bet by its chairman that he can access the Mercedes-Benz owner’s technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely’s founder and main owner, means China’s largest privately-owned automaker is now […]
STOCKHOLM – China’s Geely Holding, owner of the Volvo car brand, is buying an 8.2 percent stake in Swedish truckmaker AB Volvo from activist investor Cevian Capital, worth around $ 3.3 billion at current market prices. Geely’s expertise in the Chinese market and skills in developing electric and autonomous vehicles should help the truckmaker to […]
HONG KONG/BEIJING – Daimler AG has turned down an offer from China‘s Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth […]
BEIJING — Sweden’s Volvo Cars, a unit of Zhejiang Geely Holding Group, has agreed to make some engines available for Geely-branded vehicles, sources said, deepening ties between the carmakers who already share technology through third brand Lynk & Co. Three people close to Geely and Volvo said the first Volvo-powered Geely model was expected to […]
Anthony Kyriazis @ Flickr Lotus is one of the most storied names in the automotive world. Since 1952, the company has been applying founder Colin Chapman’s maxim “simplify, then add lightness” to the car; along the way it has built spectacularly successful racing cars and sublime road cars. Yet despite those four-wheeled creations, times haven’t […]
– China’s Geely will buy a majority stake in Lotus as the British sports-car maker’s Malaysian owner attempts to recoup years of losses and expand its fledgling Proton brand to China. – Geely’s parent company, Zheijang Geely Holding Group, has owned Volvo since 2010. When the deal closes in July, the company will also own […]
