Daimler, Geely Kind Mobility Providers Joint Enterprise In China

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German carmaker Daimler on Wednesday mentioned it would kind a premium ride-hailing three way partnership in China along with Geely Group.

“The JV will present ride-hailing mobility companies in a number of Chinese language cities utilizing premium automobiles together with however not restricted to Mercedes-Benz automobiles,” Daimler in an announcement describing the alliance.

The 50:50 three way partnership shall be headquartered in Hangzhou, Daimler mentioned. Geely’s chairman Li Shufu is Daimler’s largest shareholder with a stake of simply over 9 %.



(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)

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