Published on February 11th, 2019 | by Hammer0
Geely & Daimler in talks for more co-operation
Wednesday this past week, Daimler Chief Executive Dieter Zetsche commented that the luxury car manufacturer is in discussion with Geely from China about extending their cooperation. This statement comes as German politicians draw up measures to protect German industries from foreign rivals by buying into German brands to protect foreign out-right ownership.
Last year October Geely bought a 9.69% stake in Daimler which had the automotive industry buzzing as Geely was a relative unknown company in Europe before that. Now the global automotive eyes are on Geely as the work to to rebrand and revitalize Proton and Lotus for the ASEAN region which is the fastest growing automotive region in the world. As the Europeans slow down the reliance on cars, ASEAN countries are buying more and more each year.