Thursday , January 28 2021

The Chinese want more of their ownership in Daimler – Technology

It is obvious that in the future we will increasingly see news that connects hitherto incompatible partners. When the Geely Chinese bought almost 10% of Daimler, Germany was in trouble, but the Chinese insured did not intend to attack an even larger share of the company's shares. Then, the concerns that were struck were unprepared and had to go into an explanatory system that has yet to be developed.

Now things are changing, but probably Daimler is the one who has sought the Chinese, known for his deep pocket. Dieter Tesche acknowledged that Geely is negotiating to expand their cooperation, even though German authorities have taken measures to protect the Chinese from the threat. The Panen is buying shares in embedded companies, including the automotive industry, to prevent unwanted foreign buyouts. Only the Chinese have the potential.

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On this occasion, Tseche, CEO of Daimler, says: "Countries that pursue industrial policies are usually not competitive, we did not want such measures."

Daimler's boss refused to comment in detail on his admission, but suggested "we negotiate other issues with a larger dimension," Reuters reported.

We recall that in February 2018, Li Shufu, the founder of Geely, acquired 9.69% of Daimler's shares and paid them about $ 9 billion. Thus, the Chinese company became the biggest shareholder in a concern. Since then, the two companies have been in negotiations, but their only joint venture is a joint venture for a joint travel service.

When the deal happened a year ago, a source close to Shufu revealed that he believed that one, two or three manufacturers would survive in the new competitive environment, stating that unity between automakers is the way to survive.

It is believed that Geely is seeking access to Mercedes-Benz electric vehicle and truck technology to enable the Chinese company to compete with the stringent sub-Siberian Empire emission reduction requirements.

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