Geely takes a near 10% stake in Daimler

Geely Group, a  company owned by Li Shufu and managed by Zheijang Geely Holding Group, has acquired a 9.7 percent stake in Daimler AG, through open market purchases of shares. The move appears to be part of a long-term strategy by Li to position Geely for growth in e-mobility and possible access to Daimler technologies.