Geely Holding to explore deeper cooperation with Daimler

China’s Geely Holding will explore the possibility of deeper cooperation with German automaker Daimler AG, its Chairman Li Shufu stated on Friday.

Geely built a 9.69% stake in Daimler in 2018. The two companies established a China-based venture for building electric Smart cars and a separate premium ride-hailing venture. They also invested in Volocopter, a flying taxi company.

The Chinese automaker would also release several new products and services “to our markets around the world” this year, Li informed Reuters. Geely plans to present Lynk & Co cars in Europe this year.

Li also said Chinese auto market is getting back to normal and global auto supply chain disruption is “temporary and manageable”.