Chinese wealth fund to purchase a stake in Daimler AG

Article by Christian Andrei, on January 9, 2013

It’s possible that China's sovereign wealth fund will purchase a stake in Daimler AG, according to a China media outlet, the state-owned People's Daily newspaper. It reported that China Investment Corp., the investment vehicle in the country, is considering a plan to buy a stake in Daimler that ranges from 4% to 10%. No sources were cited by the article.

The China Investment Corp. hasn’t released a comment about this matter yet. In the past, Daimler CEO Dieter Zetsche has said that a Chinese investor is welcome. Company spokeswoman Silke Walters didn’t directly address the comment but said that generally, Daimler wants a balanced shareholder structure so it will “always welcome” any new investors. A source told Reuters that there was no merit to this report.

Reports about this potential investment coincide with moves by the Mercedes-Benz parent company to shake up its troubled Chinese operations. Last December, Mercedes-Benz sales in China fell by almost 19% year-on-year to 18,910 units, as the company faced challenges just to keep up with Audi and BMW. Mercedes sales languished but Audi sales in China surged by almost 30% last year to 405,838 units.

Audi experienced strong demand for the Audi Q5 crossover, which posted a 65% sales increase. Sales of the long-wheelbase A4 sedan increased by 19%. Meanwhile, deliveries of the redesigned long-wheelbase A6 sedan climbed by 17%.

When interviewed by German newspaper Boersen-Zeitung recently, Zetsche admitted that Mercedes-Benz had not been able to keep up with Audi and BMW. Mercedes is reorganizing its sales network in China, merging different entities for locally and imported cars into one company. In addition, Daimler appointed Hubertus Troska in a new board position that’s responsible just for the market in China.

Topics: daimler

If you liked the article, share on:


Login or Create new account to add a comment!


Mitsubishi is now officially part of the Renault-Nissan alliance after Nissan took over the Japanese car company recently. We know a lot has been happening in the car industry, but...
by - October 24, 2016
Driving the newest 2017 BMW 5-Series (G30), Clive Owen (Closer, Children of Men) returns to his role as “The Driver”. In this latest installment, what initially starts as a simple...
by - October 24, 2016
Many had wished that a Lamborghini Huracán Superleggera would somehow make a surprise debut at the recently held Paris Motor Show. Sadly, not a single Lamborghini appeared anywhere in sight....
by - October 24, 2016
Aston Martin and Red Bull Racing teamed up for the first time in creating what looks like one of the most ferocious beasts in history. The British car manufacturer has...
by - October 24, 2016
German premium carmaker Audi is reportedly planning to buy back around 25,000 Audi Q7 SUVs powered by its 3.0-liter V6 TDI engine in the United States. The buyback should compensate...
by - October 24, 2016