Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. Nissan Motor Co. and Renault SA already hold stakes.
"Daimler knows and appreciates Li Shufu as an especially knowledgeable Chinese entrepreneur with a clear vision for the future, with whom one can constructively discuss the change in the industry".
The rumour mill has been working overtime since Daimler refused to sell a chunk of its stock at a discount to Geely Chairman Li Shufu past year, suggesting he might instead buy the stock on the market if he was so keen.
The company paid 1.8 billion dollars to buy Volvo from USA carmaker Ford in 2010, bringing a renaissance to the Swedish-Chinese brand.
Li, 54, is 10th on Forbes magazine's China Rich List and 209th on its global billionaires ranking, with an estimated net worth of US$16.6 billion (RM65 billion).
Last year, Geely Holding bought a 51% stake in Lotus, the British sports vehicle maker.
Late a year ago, Geely acquired a stake in the Volvo Trucks group, a separate entity, becoming its largest investor in a deal that has not yet closed.
China's avid search for footholds in Europe has raised hackles among some politicians in Berlin, Paris and Brussels.
Daimler is the world's oldest automaker, with brands including Mercedes-Benz and Smart cars, as well as heavy trucks.
It is to become a holding company combining three divisions: financial services, cars and small commercial vehicles and trucks and buses. Volvo announced past year that none of its new models from 2019 will have simple combustion engines, but will be powered at least partly by electricity and other sources. Volkswagen AG is owned by the Porsche-Piech billionaire clan with the government of Qatar counting as a major stakeholder, and BMW is owned by the wealthy billionaire Quandt-Klatten family.
Following the potential deal, Zhejiang Geely would surpass Kuwait Investment Authority, as Daimler's top shareholder.
Photo A Mercedes-Benz assembly line operated by Daimler in Sindelfingen, Germany.
Due to the wraparound season, they all count on this year's FedEx Cup and the American left-hander sits 13th on that list. Winless since September 2016, McIlroy missed the cut at the Pebble Beach Pro Am and tied for 20th at Riviera last week.
Combined with the diet, Ferrari claims the Pista can now do 0-100km/h in just 2.85 seconds and 0-200km/h in only 7.6 seconds. To help it stick to the track , Ferrari's engineers made some aerodynamic changes to increase the downforce by 20 percent.
Turning to investments, Berkshire's Apple holding was up to $28.2B at year-end, second only to Wells Fargo at $29.3B. Operating profit, however, fell 18 percent to $14.46 billion, hurt by a rare loss from insurance underwriting.
It could only feasibly produce a certain amount of packets in time for the promotion it wanted to pair Szechuan sauce alongside. People wept. "And our super-limited batch, though well-intentioned, clearly wasn't near enough to meet that demand".
She was hosted in Seoul by President Moon Jae-in, who has long advocated talks rather than confrontation with North Korea. President Donald Trump is expected to address the new penalties Friday at a conservative gathering in Washington.
ARCore is the result of the Augmented Reality developments Google refined over the years through a project codenamed Tango. Lens will also get improved support for recognizing common animal and plants, such as specific dog breeds and flowers.
In a story February 21, The Associated Press reported that east Jerusalem is Palestinian territory occupied by Israel since 1967. Abbas has refused to meet Prime Minister Benjamin Netanyahu and sit at the negotiation table", the Israeli envoy said.
Russian security agents have gone to Argentina three times to help the investigation, and it has taken more than a year. Security Minister Bullrich said that the criminal network was headed by a Russian businessman identified only as "Mr.
Since the onset of Syria's conflict in 2011, the YPG and its allies have carved out three autonomous cantons in the north. The shelling set some cars ablaze, wounding at least ten people and killing one passenger; he told Reuters.
Among those who are joining Haasan for the launch of his political outfit also includes Delhi Chief Minister Arvind Kejriwal . There have been several examples of former actors who have left a mark in politics in Tamil Nadu .
Russian Federation deploys its most sophisticated jets in Syria
Yevgeny Prigozhin (right) a businessman close to Vladimir Putin , allegedly controlled movements of Russian mercenaries in Syria . Wael Al Hussaini posted a video on Twitter, on which, according to him, two Su-57 fighters approaching the landing are visible.
Donald Trump Jr. Retreats From Foreign Policy on India Trip
Trump or the Trump Organization during his time in India, other than that necessary to provide any security support for the U.S. It might be even of a problem if, for whatever reason, the Trump brand experiences a sudden, precipitous drop in popularity.
Anbang control seized by Chinese government
The government has also removed the company's former chairman, Wu Xiaohui , from his job and charged him with "economic crimes". Chinese regulators previous year barred Anbang from issuing wealth management products disguised as insurance policies.