Has Mercedes-Benz Been Acquired by Geely?
2 Answers
Mercedes-Benz has not been acquired by Geely. Geely Holding Group invested in Daimler and holds 9.69% of Daimler's voting shares, becoming Daimler's largest shareholder and committing to long-term ownership of its equity, but it has not acquired Mercedes-Benz. Below is an introduction to Geely: Introduction to Geely Auto: Geely Auto Group is a subsidiary of Zhejiang Geely Holding Group, headquartered in Hangzhou, Zhejiang, China. It has vehicle and powertrain manufacturing bases in Taizhou and Ningbo in Zhejiang, Xiangtan in Hunan, Chengdu in Sichuan, Baoji in Shaanxi, and Jinzhong in Shanxi, as well as overseas factories in countries and regions such as Belarus. Brands under Geely Auto Group: Geely Auto Group currently owns the Geely Auto brand, Lynk & Co brand, and Geometry brand. It holds a 49.9% stake in Proton with full management rights and a 51% stake in the luxury sports car brand Lotus.
I've been following the automotive industry for over a decade, and this matter needs to be clarified: Geely acquired a 9.69% stake in Daimler Group in 2018, and Daimler is the parent company of Mercedes-Benz. But this doesn't mean the entire Mercedes-Benz was bought out! After becoming the largest single shareholder, Geely's involvement was more about capital operation collaborations. The two companies later established a joint venture to develop electric Smart cars, while Mercedes-Benz continued to independently operate its luxury vehicle production lines. It's like someone in the neighborhood buying some shares from Old Wang next door, but Old Wang still decides how to renovate his own garden. Such strategic investments are quite common in the global automotive circle, just like how Volkswagen and Ford hold shares in each other.
