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FILE PHOTO: Employees wearing face masks following the coronavirus disease (Covid-19) outbreak work on a Lynk & Co car production line at Geely's Yuyao plant in Ningbo city, Zhejiang province, China (REUTERS)
FILE PHOTO: Employees wearing face masks following the coronavirus disease (Covid-19) outbreak work on a Lynk & Co car production line at Geely's Yuyao plant in Ningbo city, Zhejiang province, China (REUTERS)

China's Geely to explore deeper cooperation with Daimler

  • Geely built a 9.69% stake in Stuttgart-based Daimler in 2018. The two companies formed a China-based venture to build electric Smart cars.

China's Geely will explore the possibility of deeper cooperation with German luxury automaker Daimler AG, its Chairman Li Shufu said on Friday.

Geely built a 9.69% stake in Stuttgart-based Daimler in 2018. The two companies formed a China-based venture to build electric Smart cars and a separate premium ride-hailing venture.

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They also invested in Volocopter, a flying taxi company.

(Also read: China's Geely warns of coronavirus headwind after 35% 2019 profit drop)

Geely would also "launch several new products and services to our markets around the world" this year, Li said in a statement to Reuters. Geely plans to roll out Lynk & Co cars in Europe this year.

Li also said Chinese auto market is returning to normal and global auto supply chain disruption is "temporary and manageable."

This story has been published from a wire agency feed without modifications to the text.

  • First Published Date : 23 May 2020, 09:52 AM IST