Volvo Cars Open to Partners; Dismisses Daimler Stake Reports

CEO says Daimler investment report is ‘pure speculation’
Volvo expects half of sales after 2025 to be EVs, rest hybrid

Volvo Cars CEO Hakan Samuelsson discusses the company’s future for electric and hybrid cars, and growth in China.(Source: Bloomberg)

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By Bloomberg News

April 25, 2018 at 1:41 AM UTC

Updated on

April 25, 2018 at 3:03 AM UTC

This article is for subscribers only.

Volvo Car Group Chief Executive Officer Hakan Samuelsson dismissed reports of Daimler AG becoming a potential investor and said the Swedish automaker is open to partnerships with anyone if it serves its interests.

Last week, Manager Magazin reported that the German company would take a small stake in the company controlled by Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group Co. in order to signal its willingness to cooperate. Geely founder Li Shufu acquired a 9.7 percent holding in Daimler in February.