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Geely looking to buy stake in Mercedes-Benz

December 19, 2017, 03:05 PM IST by Abhishek Nigam
Geely looking to buy stake in Mercedes-Benz

As surprising as it may sound, according to reports Geely is about to buy three to five per cent of Daimler for 4.0 billion euros. If this happens, Geely, the Chinese parent of Volvo Cars will become the second or third largest single investor in Daimler, as Kuwait holds 6.8 per cent, and the Renault Nissan Mitsubishi Alliance has 3.1 per cent.

Currently, Geely sells vehicles under its own brand, and completely owns Volvo Cars and the London Taxi Company. In May, Geely purchased a 49.9 per cent of Proton and 51 per cent of Lotus from Malaysian conglomerate DRB-Hicom. Apart from that Geely has also taken over the flying car firm Terrafugia. Geely is also in the process of launching the Lynk & Co marque with its own range of Volvo-derived products.

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