German vehicle manufacturer Daimler AG is discussing China’s Geely Holding Group to start a joint venture to offer ride-hailing and car-sharing services in China, Bloomberg reported, mentioning sources. The 50:50 venture is yet to be finalized, and Daimler has strategies to take on industry leader Didi Chuxing on its home turf, Bloomberg reported mentioning people
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.
Geely Holding Group and its Volvo Cars unit are thinking about making Lynk & Co branded automobiles at Volvo plants in Belgium and the United States state of South Carolina, a senior Lynk & Co official informed Reuters. The Lynk & Co brand is jointly owned by Geely and Volvo Cars, and sales of the
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
Volvo Cars displayed its first compact SUV on Thursday with the launch of its brand-new XC40 model, the newest in a sweeping overhaul of the automaker’s line-up under Geely Holding Group. Volvo will look to emulate the success of its XC90 and the popular XC60 SUVs, which have put it on course for a straight
The motor industry presently seems fixated on bringing driverless vehicles to roads, however some are looking things beyond that to a point where vehicles might be able to do without roads as frequently as they can cope without a human driving them. Mainly, flying cars have always been the stuff of comics and dream visions
Most of you would already be aware of the fact that Geely is Volvo’s new owner and they have already let it known that they intend to produce some of the models of the Swedish manufacturer in China. However, more often than not, whenever we come across anything that originates from China we immediately start