Daimler declines Geely offer to buy stake but Geely is still positive

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Daimler has declined an offer from China’s Geely to take a stake of approximately 5 percent by means of a discounted share placement, as the German automaker has long hesitated to see existing shareholdings diluted, sources with understanding of the discussions stated. A stake of that size valued at $4.5 billion at current market value. […]

Daimler increases investment on North American auto plants

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U.S. automakers are dealing with increasing pressure amid sluggish demand in the country, as Asian and European auto companies strongly increase vehicle production in North America, including a recent investment by Daimler. In the recent move, Daimler prepares to invest $1 billion to broaden its Mercedes Benz assembly plant near Tuscaloosa, Alabama, to provide batteries […]