Geely's Li: Daimler Deal Driven by Brand Cachet Vs Common Ground

Zhejiang Geely Holding Group Co. Chairman and founder Li Shufu made history last month when he became Daimler AG’s top shareholder, a move he says is driven more by the cachet of Germany’s storied auto brand and the outlook for autonomous driving and electric cars, rather than shared business prospects. Here is an explainer -- in his own words -- of what’s behind the investment, valued at 7 billion euros ($8.6 billion).

The 54-year-old made the comments during a brief interview this week on the sidelines of legislative meetings being held in Beijing and also through written responses to questions submitted by Bloomberg News. The following is a translation of those comments, which were originally made in Chinese.