Daimler Open To Buying Small Stake In Volvo Cars
Highlights
Daimler is open to supplying Volvo with engines and could even take a small stake in the Swedish carmaker, Manager Magazin said, raising the possibility of increased cooperation between Mercedes-Benz and China's Geely. Daimler could buy "a couple of percent" in Volvo Cars, Manager Magazin said on Thursday, without citing sources. Volvo declined to comment and a Daimler spokesman said: "This is pure speculation which we will not comment on."
The chairman of Volvo owner Geely, Li Shufu, stealthily built a $9 billion stake in Daimler by the end of February, seeking to forge an alliance with the German carmaker as a way to counter the threat from new competitors such as Tesla, Google and Uber.
Daimler Chief Executive Dieter Zetsche has welcomed the Geely chairman as a new shareholder and said any industrial alliance will depend on whether current China partner BAIC (1958.HK) agrees.
(Reporting by Edward Taylor; Additional reporting by Johannes Hellstrom; Editing by David Goodman)
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Great Deals on Used Cars
View All Used Cars- 27,000 km
- Petrol
- AMT
- 9,000 km
- Petrol
- AMT
- 42,000 km
- Petrol
- AMT
- 5,903 km
- Petrol
- Manual
- 73,000 km
- Petrol
- Automatic
- 42,189 km
- Petrol
- Manual
- 49,783 km
- Petrol
- Manual
- 35,000 km
- Petrol
- Manual
- 48,000 km
- Petrol
- Manual
- 50,000 km
- Petrol
- Manual
Upcoming Cars
Upcoming Bikes
Explore More
Latest News
Related Articles