Alex Webb, Columnist

Daimler Keeps Family Jewels Close in Dance With China

A venture with Geely is a good way for the parties to get to know each other.

October 9, 2018 at 11:15 AM UTC

Alex Webb is a correspondent for Bloomberg Quicktake. He previously covered the technology, telecoms and media industries in London, San Francisco and Munich.

A tough market to crack without a partner.
Photographer: Qilai Shen/Bloomberg

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Daimler AG may have found a way to assuage its biggest investor’s desire to form a Chinese-European alliance without giving away its family jewels.

The parent of Mercedes-Benz is in talks to form a Chinese ride-hailing and carsharing joint venture with Zhejiang Geely Holding Group Co., Bloomberg News reported Tuesday. The Chinese carmaker, headed by billionaire Li Shufu, became Daimler’s biggest shareholder in February.