Swedish carmaker Volvo has been making leaps in the automotive industry in recent years and this is thanks to the stronger funding provided by their parent company, Geely.
The China carmaker is turning into a massive player in the automotive scene as they have been buying out a number of auto companies. Today, we can confirm that Geely is inching closer to become the new parent for Mercedes-Benz after they have successfully acquired 10% of Daimler’s shares.
Most that have heard the news are growing worried for Daimler and Mercedes-Benz as they fear that Geely will have a negative impact on their future offerings.
But if we are to look at how Volvo is doing, having Geely handling the business end of things won’t be so bad as they company prefer to give their sub-brands the freedom to work independently.
If the acquisition of a minor stake in Daimler is going to bring goodness to the company, we can expect Geely to push ahead and get more shares out of the prestigious brand.