The chairman of Chinese automaker Geely, which also owns Volvo Cars, has built up a 9.69% stake in German automaker Daimler, the automaker said in a regulatory filing today. The nature of the investment is bit fuzzy as the stake is in the name of Geely Chairman Li Shufu, and not the automaker itself. “We are delighted, with Li Shufu, to have won over another long-term investor.”Besides Volvo, Geely also holds a 49.9% stake in Malaysian automaker Proton. Geely is also making more use of its Volvo operation by developing a Geely up-market SUV for China based on a Volvo platform that is a great success. Geely has among the very lowest capital expenditures of any global automaker, making its return on invested capital enviable.

Source: Forbes February 23, 2018 21:36 UTC