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Daimler eyes joint venture with China's Geely: Bloomberg

October 9, 2018 10:01 AM
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(Reuters) - German vehicle manufacturer Daimler AG (DAIGn.DE) is in talks with China’s Geely Holding Group Co (0175.HK) to set up a joint venture to offer ride-hailing and car-sharing services in China, Bloomberg reported, citing sources.

The 50:50 venture is yet to be finalized, and Daimler is planning to take on industry leader Didi Chuxing on its home turf, Bloomberg reported citing people familiar with the matter.

Also read: China preparing plan to increase access for foreign companies: WSJ

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