In quest for tech, Chinese automaker Geely grabs 10 percent of Mercedes parent Daimler

26 Feb
2018 Mercedes-Benz SLC-Class (Mercedes-AMG SLC43)Daimler AG announced last week that Li Shifu, the founder of Chinese automaker Geely, had acquired almost 10 percent of the shares in the company. Li didn't buy 9.7 percent of Daimler all at once; the outspoken CEO has been accumulating shares on the open market since last fall. The German industrial giant counts Mercedes-Benz and Smart among its...

Flying car-maker Terrafugia bought by Geely

14 Nov
Terrafugia Flying CarChinese automaker Geely has been given the all-clear to purchase would-be flying-car manufacturer Terrafugia, ending months of scrutiny after the acquisition was first reported last summer. While most carmakers—including Geely-owned Volvo—are developing self-driving car technologies in a bid to turn science-fiction fantasy into...