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Daimler, Geely Form Mobility Services Joint Venture In China

Geely's chairman Li Shufu is Daimler's largest shareholder with a stake of just over 9 percent.
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By car&bike Team

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1 mins read

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Published on October 25, 2018

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Highlights

    German carmaker Daimler on Wednesday said it will form a premium ride-hailing joint venture in China together with Geely Group.

    "The JV will provide ride-hailing mobility services in several Chinese cities using premium vehicles including but not limited to Mercedes-Benz vehicles," Daimler in a statement describing the alliance.

    The 50:50 joint venture will be headquartered in Hangzhou, Daimler said. Geely's chairman Li Shufu is Daimler's largest shareholder with a stake of just over 9 percent.

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

    # Daimler AG# Daimler# Geely# Ride Hailing Apps# Auto Industry
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