Geely Founder Li Shufu is a New Shareholder of Daimler AG

PR72430

HANGZHOU, China and STUTTGART, Germany, Feb. 24, 2018 /PRNewswire=KYODO JBN/ --

- Li Shufu acquired 9.69 percent of voting shares / long-term investment /

focus on digital technology services and electro-mobility  

A subsidiary of Geely Group Co., LTD., Hangzhou, China, a company owned by Li

Shufu and managed by Zhejiang Geely Holding Group Co., LTD, Hangzhou, China,

has acquired a 9.69 percent stake in Daimler AG, Stuttgart.

"Daimler is an outstanding company with a first-class management. 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. "I am particularly pleased to accompany Daimler on its way to

becoming one of the world's leading electro-mobility providers."

The share purchase makes Li Shufu currently the single largest shareholder of

Daimler AG and points to a long-term commitment. For the time being neither

Geely Group nor any other company in the Zhejiang Geely Holding Group intend to

acquire additional shares. Li Shufu: "I will fully abide by the company charter

and governance structure of Daimler and respect its values and culture".

With revenue exceeding RMB 270 billion (about USD 43 billion) in 2017, the

Zhejiang Geely Holding Group is China's largest privately owned automotive

manufacturing company and one of the world's leading providers of

electro-mobility. Major assets of the group include leading Chinese automaker

Geely Automobile Holdings Ltd., Hangzhou (46 percent), Volvo Cars, Gothenburg,

Sweden (100 percent), Lotus Motor Cars, Norfolk, UK (51 percent), Proton Cars,

Malaysia (49.9 percent) and London Taxi, Coventry, UK (100 percent).

Geely Group owns one of China's largest car-sharing providers, Cao Cao (100

percent), operating a fleet of around 16.000 electric vehicles worldwide.

Li Shufu: "The competitors that challenge the global car industry in the 21st

century technologically are not part of the automotive industry today. But

challenges create opportunities. No current car industry player might win this

battle against the invaders from outside without friends. To achieve and assert

technological leadership, one has to adapt a new way of thinking in terms of

sharing and united strength. My investment in Daimler reflects this vision."

Please find further information at: http://www.geely-project.com

Contact: Dirk Grosse-Leege,

Cardo Communications GmbH,

Friedrichstrasse 120, 10117 Berlin, Deutschland,

Phone: + 49-30-24087620,

Mail: dgl@cardocommunications.com

Source: Zhejiang Geely Holding Co