Li Shufu's Track Record in Sweden Eases Daimler Workers' Minds
- German works council in close contact with Swedish unions
- Government for now won’t intrude in Geely’s decision to invest
This article is for subscribers only.
Li Shufu’s $9 billion investment in Daimler AG raised hackles in German government halls and executive suites. Not so at the offices of Michael Brecht, the powerful head of the automaker’s works council.
That’s because Brecht, during months of speculation that preceded the purchase, had been doing his homework on Li, who’s owned Volvo Car AB since 2010. Regular conversations with unions in Sweden revealed that employees there -- no pushovers when it comes to defending their rights -- were content working for the Chinese tycoon.