Daimler’s CEO interested in Chinese investors image

Chief Executive Dieter Zetsche said although it has had no sign that this will happen, German carmaker Daimler would welcome a Chinese investor after taking a stake in Beijing Automotive Group.

Daimler is seeking to revive operations in China, where the luxury carmaker has fallen behind its German rivals BMW and Volkswagen’s Audi and fallen out with its dealers.

“We would welcome Chinese investment, although we’re not desperately looking for that, because it’s better for us when China is interested in our fate,” Zetsche said during a panel discussion in Berlin on Saturday. “The reason is certainly not to look for more equity. We rather have the opposite problem of very high equity in our company.”

The Stuttgart-based manufacturer and Beijing Auto signed an agreement last week that will see Daimler take a 12 percent equity stake in BAIC Motor and two seats on the board. Zetsche said on Saturday that a possible Chinese investor would need to buy shares in the market, adding that “no other transaction” would be involved.

Via Reuters