AutoBeta(AutoBeta.net)05/14 Report--

Geely Daimler's cooperation project is becoming clearer! According to news, Geely Technology Group Co., Ltd. has increased its foreign investment to set up Weixing Technology Co., Ltd., in cooperation with Daimler Mobility Services GmbH (Daimler Mobile Services), with 850 million of each party's contribution and 50% of the equity.

In fact, Geely and Daimler will set up a joint venture to provide high-end chauffeured car services in addition to a joint venture with domestic smart electric vehicles, and the above-mentioned "Weixing Technology Co., Ltd." is expected to be the result of a cooperation between the two companies.

In October 2018, Geely and Daimler signed a memorandum in Stuttgart, which stipulates that the two sides will form a joint venture in China according to the 50:50 share ratio to provide high-end chauffeured car services in some Chinese cities.

Among the details, the initial models of the new joint venture will include Mercedes-Benz S-Class, E-Class, V-Class luxury utility vehicles and Mercedes-Maybach sedans, or will also add Geely's high-end electric models.

In February 2018, Geely acquired 9.69% of Daimler's voting shares through its overseas enterprises, officially becoming Daimler's largest single shareholder.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat