1. Home
  2. >
  3. Car News
  4. >
  5. New Energy Vehicles
  6. >
  7. Daimler said it is...

[YesAuto News] After Geely acquired 9.69% of Daimler Group's shares for approximately US$9 billion in February this year, there has been a lot of concern about whether the two companies will cooperate. According to foreign media reports, Daimler Group CEO Zetsche recently stated that the company is currently not considering any cooperation with Li Shufu or Geely, and Daimler already has a joint venture partner in China, BAIC.

Facing the acquisition of Geely, Daimler has been emphasizing the cooperative relationship with BAIC. Zetsche once pointed out that any industrial alliance with Geely will depend on whether BAIC agrees. In fact, the cooperation between Daimler and BAIC has been further strengthened. At the end of February this year, the two parties announced that they would expand the production scale of Mercedes-Benz passenger cars in China. They would jointly invest more than RMB 11.9 billion to create a joint venture between the two parties. The new luxury car production base of Beijing Benz Automobile Co., Ltd. The new plant will produce domestically a variety of Mercedes-Benz products, including new energy electric vehicles, and will have a complete luxury car manufacturing system to further increase Beijing Benz's overall production capacity.

Regarding whether there is a hostile takeover and other issues, Zetsche pointed out that there is no sign that Li Shufu's takeover is malicious. “We have dealt with this type of share acquisition and have dealt with it, but there is no reason to believe that Li Shufu's acquisition was malicious. Of course, even in that case, we also have a general response plan. We will not say such a plan, because Say it and lose half of the effect. We will respond according to the specific situation.” Zetsche said.

It is reported that earlier this year, the relevant German authorities emphasized that they must be wary of Chinese companies increasing investment and acquiring high-tech German companies, warning that the loss of key technologies may harm the German economy. In recent years, some major transactions calculated in the billions of euros have made the German side sensitive to foreign acquisitions. This includes Chinese home appliance manufacturer Midea Group's acquisition of German robotics company KUKA, and Li Ka-shing's acquisition of German energy management integrated service provider ista. According to statistics, in 2017, 54 Chinese companies acquired or participated in equity participation in German companies, with a record total investment of US$13.7 billion. (Source: Reuters; Compilation/Car Home Zhang Lianyi)