September 25, 2018 / 5:11 PM / a year ago

Geely says committed to be long-term partner for Daimler

FILE PHOTO - Li Shufu, founder and chairman of Zhejiang Geely Holding Group, attends the Volvo's S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song

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

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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