This content is not available in your region

Daimler eyes joint venture with China's Geely - Bloomberg

Access to the comments Comments
Daimler eyes joint venture with China's Geely - Bloomberg
The Daimler is seen during a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau   -   Copyright  REGIS DUVIGNAU(Reuters)
Text size Aa Aa

(Reuters) – German vehicle manufacturer Daimler AG <DAIGn.DE> is in talks with China’s Geely Holding Group Co <0175.HK> to set up a joint venture to offer ride-hailing and car-sharing services in China, Bloomberg reported, citing sources.

The 50:50 venture is yet to be finalised, and Daimler is planning to take on industry leader Didi Chuxing on its home turf, Bloomberg reported citing people familiar with the matter.

“We have a constructive dialogue with our Chinese counterparts. I believe there is potential for both and there are more opportunities than risks. The situation is promising,” Daimler Chief Executive Dieter Zetsche said at the Paris Motor Show last week.

Geely holds a stake in Daimler and has sought an alliance in the areas of electric and autonomous vehicle technologies.

(Reporting by Rishika Chatterjee in Bengaluru; Editing by Sunil Nair)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.