September 25, 2018 / 5:24 PM / in a month

Geely says committed to be long-term partner for Daimler

FRANKFURT (Reuters) - Chinese carmaker Zhejiang Geely Holding Group Co [GEELY.UL] remains committed to being a long-term partner for Daimler, vice president Frank Li said, as talks about cooperation possibilities between the groups continue.

FILE PHOTO: A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China August 4, 2017. REUTERS/Aly Song/File Photo

Li, in comments made to Reuters on the sidelines of a panel discussion in Frankfurt, declined to comment on when talks would be concluded but reiterated that Geely was seeking to remain a supportive long-term strategic partner.

Li said Geely has not accumulated options to raise its stake in Daimler beyond 9 percent. “We have denied that,” he said.

Reporting by Edward Taylor; Editing by Christoph Steitz

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