Geely chairman not looking for Daimler board seat

Li Shufu, the founder and main owner of China’s Geely, is not seeking impact over Daimler’s strategy through representation on its board after building up a stake of nearly 10 percent in the German automaker, according to a newspaper interview.

“I respect the values and culture of Daimler. I have never asked for a seat on the supervisory board, and that doesn’t have any importance for me,” German weekly Bild am Sonntag quoted the founder as saying in an interview.

Geely’s purchase of a $9 billion stake in the owner of Mercedes-Benz cars has revived fears in Germany of its highly-prized expertise falling into Chinese hands.