Next month, German carmaker Daimler may conclude an agreement on the sale of 50% of Smart, the division of Chinese Geely, which became Daimler’s majority shareholder last year. This was reported by sources familiar with the situation. The Smart division of the German automaker is unprofitable. Its sales per year are about 130 thousand cars. For comparison, a subsidiary of Mercedes-Benz, part of the Daimler group, sells about 2 million 250 thousand cars a year. Earlier it was reported that Geely and Daimler decided to create a joint venture in China, which will provide car sharing services.
Daimler to settle $20 million civil penalty over vehicle recalls in the US15.11.2019
EUROPEAN SHARES UNDERPERFORM DUE TO DAIMLER WARNING, WEAK ECONOMIC RECORDS15.07.2019
Daimler recorded a net loss of 1.6 billion euros in the second quarter10.07.2019
Geely expects a 40% decline in profit in the first half of the year