Ltd., has acquired a 9.69% stake in Daimler AG, owner of the Mercedes-Benz brand, becoming the German company's largest single shareholder. Geely is the largest privately owned automaker in China and has a tough road ahead of it as Chinese authorities look to tighten emissions regulations to heavily favor electric vehicles.
A Daimler spokesman called the stake purchase a private investment by Li. "It will be an honor to support this unique team under the leadership of Dieter Zetsche in the future", said Li Shufu, chairman and owner of Zhejiang Geely Holding Group and Geely Group.
Only two to three manufacturers will survive in the auto industry moving forward, said one source who is familiar with the way Li thinks.
Daimler overtook homegrown rival BMW to become the world's largest luxury auto maker by unit sales in 2016, helped by a broad refresh of its model range and powerful sales growth in China. Geely representatives weren't immediately available to comment.
His interest in Germany is the latest in a string of acquisitions by wealthy Chinese firms and individuals, including conglomerate HNA which owns an 8.8% stake in the country's biggest lender Deutsche Bank.
"Chinese companies understand that leading European firms lean heavily on the People's Republic for sales and profits", said Michael Dunne, president of Dunne Automotive, a Hong Kong-based investment advisory firm focusing on automotive markets in Asia.
Geely bought the struggling Volvo VOLVB -1.31% vehicle brand in 2010 and invested more than $3 billion in a stake in Volvo AB, the separate truck maker, late a year ago.
Worldwide motor manufacturers are seeking to strike deals in China, the world's largest vehicle market, but centred on electric cars in order to get an increased foothold in a segment set to grow rapidly in the coming years. Geely plans to start selling a compact five-seat SUV, now marketed under the Lynk & Co brand, outside China from mid-2019.
He added that Geely could give Daimler an important partner.
But she withdrew from the tournament thanks to the concussion here, and her on-court performance hasn't been too strong since. Her attorney, Benedict Morelli, said he would be claiming "millions and millions" in damages.
Regarding the issues, Baker stated: "It is very hard to install a new program in a new airplane, especially the first one". Qatar is the top A350 customer with 76 on order, including 37 A350-1000s, which have a list price of $367 million.
Dillon's tattoo and Daytona 500 win are just the latest storylines coming from NASCAR's youth movement. Patrick and fellow driver Ricky Stenhouse Jr. broke up in December after almost five years of dating.
Its shares ended the day 4.4% higher as the bank said it was aiming to more than double its dividend for 2018 to 6.5p per share. Of these, 32% are based in the United Kingdom , 61% in the U.S. and 7% elsewhere internationally.
Two-thirds of Australian voters wanted Joyce to resign, The Australian newspaper's Newspoll showed earlier this week. Mr Joyce is now on leave, after revelations that he is expecting a child with his former media adviser.
And if you're not ready to commit to this particular trend, the label also sent blazers with New York Yankees logos on them. FASHION lovers were shocked at Gucci's freakish catwalk show that saw models strut their stuff carrying fake heads.
Moreover, while both these devices come with flagship chip under the hood, they only sport a single camera at the back. BGR India will be covering the event live so you can stay tuned for all the latest updates from the MWC 2018 .
The announcement came on the same day that President Donald Trump called for an end for schools being considered "gun-free". Since 2008, he said, the sheriff's office was involved in 23 calls involving either Nikolas Cruz or his brother.
He said the Android Go devices based on Oreo will be up for purchase after the official announcement which is happening next week. It will also have 4GB of RAM, 64GB of internal storage, USB Type-C port, fingerprint sensor and microSD card slot.
One of the favorites to win the Champions Leauge, Bayern Munich has had 13 straight victories led by their coach, Jupp Heynckes . Lewandowski is the leading scorer in the Bundesliga with 20 goals this season.
The variant of the Surface Pro with Intel HD Graphics 620, 8GB RAM, and 256GB storage retails for Rs. 1,06,999. The Surface Pro Type cover is also available for Rs. 10999 and Surface Pro signature type cover for Rs 12,999.
He did not specify the source of the information that officials were examining, the three people said. Like Kushner, Porter operated under an interim clearance for more than a year.
Jimmy Butler suffered meniscus injury
CELTICS 110, PISTONS 98 Kyrie Irving scored 18 points and rookie Daniel Theis had a career-high 19 to lift Boston to the victory. After grabbing a rebound, the All-Star pivoted and planted hard on his right foot before collapsing and grabbing his right knee.
Trump Directs DOD to Hold Military Parade on Veterans Day
But officials told CNN that the White House's wish is to find McMaster a four-star job that is seen as acknowledging his service. Earlier this week, press secretary Sarah Sanders said the president "still has confidence in General McMaster", Reuters reported.
FluMist spray vaccine is OK next season — CDC panel
"LAIV4 is an option for influenza vaccination for persons for whom it is otherwise appropriate", the new recommendation reads. Studies have suggested that while FluMist fell down against swine flu, it has been effective against other types of flu.
Surprise Crude Draw Lifts Hope For Oil Market
In November 2016, OPEC, along with Russian Federation , made a decision to cut oil production by 1.8 million barrels a day. The firm dollar outweighed a reported fall in USA crude inventories.
Snow Expected Saturday Prompts Winter Storm Warning
ADOT advised travelers headed to the Grand Canyon to allow plenty of extra travel time because of snow and limited visibility. A high in the low 20's will be in effect with increased winds up to 20-30mph today as the pressure gradient tightens.
NCDHHS: 27 more flu deaths, 200 so far this season
If there is any good news, it's that it appears the peak has been reached and the number of cases is slowly declining. The state Department of Public Health reports an additional 20 flu deaths for the week ending last Saturday.
'Measles in Europe up 400% in 2017'
Studies have repeatedly refuted this claim, which were based on a paper by British former gastroenterologist Andrew Wakefield. The surge included large outbreaks (100 or more cases) in 15 of the 53 countries, but Ireland was not included.