Almost a fifth of Daimler shares are in Chinese hands. German carmaker Daimler’s partner Baic has confirmed that it now owns nearly 10 percent of the Stuttgart-based company. Baic has announced it will own a 9.98 percent stake in Daimler since 2019. Previously, it was only known that Baic owned 5 percent. The information emerged following the spin-off of the Daimler Truck division, which has been listed since December 10, in which Baic also has a stake. President of rival Chinese carmaker Geely, Li Shufu, has owned 9.7 percent of Daimler since 2018. This means that one of the major German automakers, listed on the Dax, is almost 20 percent in Chinese hands. Daimler CEO Ola Källenius commented: “Baic’s stake in Daimler reflects the commitment to our successful joint alliance in manufacturing and development in the world‘s largest passenger car market,” the Chinese market. , where Daimler and Baic are permanent partners. Baic said in a deal not to go up yet in its stake in Daimler. As for the Stuttgart carmaker, it has a 9.55% stake in Baic Motor.
