Geely has acquired close to 10 per cent of Mercedes-Benz owner Daimler for about $9bn, becoming its largest shareholder in the latest sign of the global ambitions of the Chinese group. With the upcoming $9 billion deal, Geely would surpass Daimler's current top shareholder Kuwait Investment Authority's 6.8 percent stake. Instead, the automaker is seeking to enter into an alliance with Daimler that will develop self-driving and electric vehicles, to respond to the many challenges from other competitors such as Tesla, Google and Uber, which all are working on technology vehicles of their own. No current auto industry player might win this battle against the invaders from outside without friends.
Look who's about to become an automotive superpower now!
"China wants a payback after spending a decade gifting the European auto industry super-normal growth and profits".
The Chinese automaker could announce the transaction in coming days, Bloomberg reported.
EPL: Salah leads Liverpool up to second in West Ham rout Salah had been delivering quality deliveries all afternoon and it finally paid off after poor marking from the Hammers . Oxlade Chamberlain had a fantastic game in midfield and he nearly gained another assist when he fed Mane through.
Geely could not be reached for comment. Volkswagen AG is owned by the Porsche-Piech billionaire clan with the government of Qatar counting as a major stakeholder, and BMW is owned by the wealthy billionaire Quandt-Klatten family.
Geely's expansion comes only weeks after a $3.9bn move to become the biggest shareholder in truckmaker Volvo AB.
Analyst Arndt Ellinghorst of Evercore ISI said: "We only believe that Geely would consider an investment of this magnitude if there was a more significant industrial opportunity from cooperation between Geely/Volvo and Mercedes". "Daimler already has a strong footing in China". Since Li's aims are simply for access, Geely has no intention of increasing its stake in Daimler beyond 10% or to take it over in full, the company said. Geely has not commented publicly on the goal of its investment, but is thought to be interested in Daimler's battery technology. "It is the duty of investors to follow these and to check them". "It will be an honour to support this unique team under the leadership of Dieter Zetsche in the future", Li Shufu, chairman and owner of Zhejiang Geely Holding Group and Geely Group said in a statement.
He added that Geely could give Daimler an important partner.
She is survived by husband Boney Kapoor and daughters, Khushi and Janhavi Kapoor. "Yes, it is true that Sridevi passed away". Media reports say the actress was visiting Dubai for a wedding when she suffered a cardiac arrest.
ADOT advised travelers headed to the Grand Canyon to allow plenty of extra travel time because of snow and limited visibility. Another storm system is taking aim on the Upper Mississippi River Valley Saturday afternoon into Saturday night.
Trump has the option of simply granting a security clearance to Kushner, but officials wanted to avoid that option. Trump's son-in-law faces Kelly over new restrictions on insider information Google Images Labeled for reuse.
Oppo dropped to fifth place with a 6.3 percent share, up by 0.1 percent points despite a small fall in sales. Samsung will rely on its next flagship devices which will be unveiled at the Mobile World Congress 2018.
Joyce called the claim " spurious and defamatory " and said he wanted it investigated by the authorities. Whoever Nationals politicians choose as their new leader on Monday will become deputy prime minister.
Over the last 10 years, Airbnb hosts earned more than $41bn and guests have checked into an Airbnb more than 300 million times. Finally, Airbnb is redesigning its website to include more personalized collections for travelers to choose from.
But, despite Madrid still being a point adrift of third-place Valencia, Zidane said his talisman needs a breather. The key duo are joined by Toni Kroos , Marcelo and Luka Modric , who are all ruled out with injuries.
Hours after the report was published, Kuzma shot casually with Ball following the Lakers' morning walk-through. Playing in 36 games this year, the rookie has averaged 10.2 points, 7.1 rebounds and 7.1 assists per game.
In the accompanying clip, directed by Andrew Donoho , she unflinchingly raps as the leader of a Black Panther-esque organization. The first, titled " Make Me Feel ", was selected as Zane Lowe's World Record on Beats 1 radio today (February 22).
Australia Wants to Jump-Start Trump's Infrastructure Plan
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Israel foils alleged plot to blow up Australian plane
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Senators Urge Trump to Rejoin TPP
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Fresno law enforcement leaders: ICE needed for safety
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Iran locates wreckage of crashed passenger plane
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