The annual meeting of Mercedes investors was held this week in Stuttgart. The opportunity for Dieter Zetsche, the boss of the German manufacturer, to return on the arrival of the biggest investor: the Chinese Li Shufu, boss of Geely … owner of Volvo.
Alliances and redemptions sometimes lead to the creation of somewhat surprising family ties. While they are direct rivals on the market, Volvo and Mercedes find themselves today (by far, certainly) brought closer by the rise to the capital of Geely, the owner of the Swedish brand, at Mercedes .
Remember that last February, Geely bought for 7.1 billion euros shares in Mercedes, suddenly becoming the largest shareholder of the German giant. Li Shufu, Geely’s boss, did not move to the annual shareholders meeting, but Dieter Zetsche still wanted to comment on the deal.
The German explains that so far, relations “are very positive” with Shufu who wants to keep his investment at Mercedes in the long run. Will the Chinese go so far as to put his veto or impose his rules later? For the moment, there is very little chance. Geely had not at all interfered in Volvo’s business after the takeover in 2010, leaving the Swedes completely free.
A collaboration between Mercedes and Geely can not be excluded, however, according to Dietsche, who said that it should be done in agreement with the historical Chinese partner of Mercedes, the giant BAIC.