Chinese automaker Geely has purchased a stake in German car manufacturer Daimler, as the company seeks out cooperation to develop its electric car technology.

 

中国吉利汽车购买了德国戴姆勒汽车部分股份，该公司正寻求合作发展电动汽车技术。

 

The exact size of the stake purchased by Geely is unknown; however, a report from Reuters says it may be below three percent as Geely has not made the regulatory disclosure required in Germany for trades over this amount.

 

Sources say Geely is interested in Daimler's electric battery technology and may wish to pursue an electric car joint¹ venture in Wuhan, in central China's Hubei Province. A spokesperson for Geely said they are not aware of any such plans.

 

People familiar with the deal told Reuters that in November last year, Daimler rejected an offer from Geely to purchase a five percent stake in the company via a discounted share placement valued at 4.5 billion US dollars. It has been reported that parent company Mercedes-Benz did not want to see the existing stockholder shares diluted².

 

According to the Reuters report, Daimler said it welcomed investment from long-term shareholders³ and would disclose significant changes to its ownership.

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