The founder and chairman of
Zhejiang Geely Holding Group Co. has become the top shareholder in
Daimler AG, the German company that traces its roots to Benz, and inherits a storied legacy with inventions such as the world’s first diesel car. The 7.3 billion-euro ($9 billion) stake,
disclosed on Friday and first reported by Bloomberg, represents the biggest investment by a Chinese company in an overseas automaker -- and one right in the nerve centers of the global automotive world.
The maneuver by the photographer-turned self-made billionaire comes at a time when battery-powered vehicles and self-driving automobiles are poised to herald a new era. Technology companies like Google and
Apple Inc. with vast financial resources are vying for a role in the world of automaking. To survive, traditional manufacturers can no longer go it alone, Li says.
https://www.bloomberg.com/news/arti...e-flag-in-heart-of-germany-with-daimler-stake
