Geely chairman says Daimler synergies "no precondition": Bloomberg

Updated: Fri, Mar 09, 2018
11:34 pm
Reuters
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Cooperation with Geely [GEELY.UL] will depend on the "desire" of Mercedes-Benz executives and is not a precondition of an investment in German carmaker Daimler , Geely Chairman Li Shufu told Bloomberg news.

Li revealed last month he had built up an almost 10 percent stake in Mercedes-Benz maker Daimler, hoping to access electric and self-driving car technology in a move which caught the German carmaker by surprise.

"How do we generate synergies with them going forward? That will depend on whether they have such a desire. If they do, we`ll collaborate with them. If they don`t, then we won`t," Li was quoted as saying.

"Collaboration is not the only issue and is not a precondition," Li told Bloomberg.

"Why do people think we shouldn`t make an investment if there are no synergies? Why shouldn`t we? Many people around the world have put money into Daimler. Why shouldn`t we," Bloomberg quoted Li as saying.

The chairman`s remarks come after executives at Daimler and Volvo Cars questioned the viability and industrial logic of a collaboration, and after Daimler moved to strengthen its partnership with China partner BAIC .

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)