Sunday March 25, 2018 12:32

Automotive Press Release : 26 Feb 2018

Photo Release: Mazda Raises Production Capacity with New Engine Machining Factory in ESIE Automotive—26 Feb 18

Mazda Powertrain Manufacturing (Thailand) Co., Ltd. (hereinafter, MPMT), an affiliate of Mazda Motor Corporation, recently held the grand opening ceremony of its new engine machining factory at Eastern Seaboard Industrial Estate (Rayong), Chonburi

Geely Founder Li Shufu is a New Shareholder of Daimler AG Automotive—26 Feb 18

HANGZHOU, China and STUTTGART, Germany--26 Feb--PRNewswire/InfoQuest
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 auto